In spite of declined reverse mortgage endorsements observed in calendar year 2019, the reverse mortgage industry continues to feel general optimism for the trajectory of the business in the early days of 2020. Sources of general optimism include the increasing prevalence of proprietary reverse mortgage products, the signing of new financial legislation and a generally […]
Reverse mortgage technology platform ReverseVision announced last week a new partnership with cloud-based sales and management platform OptifiNow, which will use ReverseVision’s Loan Import application programming interface (API) to streamline the loan origination process for Texas-based Open Mortgage, a mutual client. The integration of ReverseVision’s API links OptifiNow’s cloud-based software as a service (SaaS) sales […]
Finding dedicated reverse mortgage personnel that have been trained strictly in the reverse discipline can be a difficult thing for recruiters at various lenders, which is why it’s generally common for some of those lenders to find loan officers who have been trained and working on the forward side through something of a “conversion” process. […]
A program sponsored by Medicaid and Medicare which allows more seniors to age in place has recently expanded its presence in the state of California, keeping more seniors at home while reducing the cost of care for seniors in the state. This is according to a story appearing at Kaiser Health News (KHN). The Program […]
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for giving us a great start to our new year of coverage over the past couple of weeks! As a reminder, RMD’s Chicago headquarters will be closed on Monday, January 20 in observance of Martin Luther King Jr. Day. Our normal posting schedule […]
A New York state law that was recently signed by Governor Andrew Cuomo, and which targets deceptive consumer practices while imposing new requirements on borrower representation during loan closings, could have potentially serious implications on the way that reverse mortgage business is conducted in the state. State Assembly bill A5626 was first passed by the […]
Reverse mortgage pricing and analytics company Baseline Reverse has announced the hiring of Kathryn Ferriman as its new vice president, with her focus centering on providing reverse mortgage valuation services, while bringing mortgage servicing right (MSR) valuation knowledge and experience. Her addition is a part of Baseline’s growth strategy, according to a press release announcing […]
In the wake of numerous, high-profile cyber security breaches that have afflicted some of the world’s largest technology companies, it’s incumbent upon financial professionals in particular – even in the reverse mortgage industry specifically – to be aware of cyber security threats and how to protect against attacks that can affect clients, business and employees. […]
HomeEquity Bank, the largest reverse mortgage lender in Canada, posted record originations in 2019 as Canadian retirees continue to seek out financing options designed to fill in for the increasing rarity of traditional retirement funding, such as pensions. Additionally, HomeEquity Bank’s recently-entered rival in the Canadian reverse mortgage space has seen its own business grow […]
Certified Financial Planners (CFPs) that have historically been resistant to the use of reverse mortgages in stabilizing the finances of their clients are continuing to evolve their perspectives on reverse mortgage products in a few key ways, and continual refinement of the language that originators can use in attempting to appeal to them as referral […]
