How Recent CFPB Enforcement Could Affect Reverse Mortgages

Due to a recent enforcement action taken by the Consumer Financial Protection Bureau (CFPB) against a non-depository mortgage lender, the reverse mortgage industry may be able to take some lessons concerning its own compliance posture, according to an interview with a legal specialist conducted by RMD. Earlier this month, the CFPB issued an enforcement action […]

Reverse Mortgage LOC Can Help Seniors Endure Financial Turbulence

For those Americans over the age of 62 who have recently seen the values of their retirement accounts shaken by the ongoing effects of the COVID-19 coronavirus pandemic, the ability for a reverse mortgage to take some pressure off of individuals and their accounts should not be overlooked. This is according to a column appearing […]

New Florida Broker Bets Big on Reverse Mortgage for Purchase

Launching any new business during the height of the COVID-19 coronavirus pandemic is no easy task, particularly in an area of the country that is seeing rising numbers of infections. For the launch of Florida’s Reverse Mortgage Center (FLRMC), however, focusing on the potential benefits of a Home Equity Conversion Mortgage (HECM) for Purchase (H4P) […]

Nasdaq: How Reverse Mortgages Can Assist Wealthy Seniors’ Tax Plans

The sweeping Tax Cuts and Jobs Act of 2017 changed much about the way that tax laws work in the United States, and also helped to elevate the reverse mortgage product category by enhancing its strategic importance for wealthy seniors seeking to incorporate a new element of strategy into their tax situations. This is according […]

How the Pandemic Prepared Fairway for the Future of Reverse Mortgages

Similarly to other companies across the reverse mortgage industry, the reverse division of Fairway Independent Mortgage Corporation has seen a noticeable rise in its volume since the onset of the COVID-19 coronavirus pandemic. That’s far from the only difference noted in the business during this unique time by Harlan Accola, Fairway’s national reverse mortgage director […]

Dana Wade Confirmed as FHA Commissioner

The United States Senate voted on Tuesday to confirm Dana Wade as Assistant Secretary for Housing, Federal Housing Commissioner. She succeeds Acting FHA Commissioner Len Wolfson, who has held the position since the ascension of former Commissioner Brian D. Montgomery to the position of Assistant Secretary for the Department of Housing and Urban Development (HUD). […]

New York Updates Reverse Mortgage Regulations with Trade Association Input

The New York Department of Financial Services (DFS) has issued new updates to a series of regulations governing both Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgage products originated within the state, considering a series of industry comments submitted to the regulatory body by the National Reverse Mortgage Lenders Association (NRMLA). This is according […]

How Educating Financial Advisors About Reverse Mortgages Expands the Business

Across the country, many reverse mortgage professionals believe that the ultimate path toward expanding the scope of the business runs through financial advisors, charged with presenting options and solutions to clients looking to improve their financial standing. While recent years have been filled with both forward momentum and occasional setbacks in reaching this goal, the […]

The RMD Podcast #15: Shelley Giordano, co-founder of the Academy for Home Equity in Financial Planning

The RMD Podcast returns for a conversation with Shelley Giordano, co-founder of the Academy for Home Equity in Financial Planning and of Enterprise Integration at Mutual of Omaha Mortgage. In our discussion, Shelley describes for RMD Editor Chris Clow the path she took to arrive in the reverse mortgage industry, as well as the origin […]