Home Equity, If Used, Offers Big Boost to Retirees’ Income

If converted to income, untapped home equity for seniors in the United States and 10 European countries could make for a significant supplement to retirement income, according to data released by the Urban Institute and highlighted in a blog post at the Boston College Center for Retirement Research (BCCRR). “The typical retired U.S. household has […]

Canadian Reverse Mortgage Demand Reaches New High

Demand for reverse mortgages among citizens in Canada continues to grow, demonstrating a contrast to the trend of the business sector in the United States. As of October 2018, the annualized pace of reverse mortgage debt growth is now at $3.425 billion CAD (roughly $2.6 billion USD), the highest level it has been in nearly […]

‘Understanding Reverse’ 2019 Refresh Accounts For New Business Realities

The 2019 edition of Understanding Reverse, the book used by industry personnel and consumers alike as an informative reference tool about reverse mortgage product offerings, features numerous changes which aim to paint a more accurate and lender-neutral picture of contemporary home equity utilization practices. These include reflecting increasing prevalence of proprietary products, the updated Home […]

U.S. House Passes Bill to Fund HUD, Transportation Dept.

At the end of the 20th day of the partial United States government shutdown, the Democratically-controlled House of Representatives passed a standalone spending bill to fund and reopen both the Department of Housing and Urban Development (HUD) and the Department of Transportation, along with a handful of other agencies. According to The Hill, the House […]

RMD Report: Reverse Mortgage Market Looks to New Year After Rocky 2018

In light of the changes made to the reverse mortgage product over the past 15 months, observers and originators in the reverse mortgage business find themselves at a crossroads. Some express frustration over opportunities having been affected by rule changes implemented to principal limit factors (PLFs) in October 2017, while others express encouragement by recent […]

‘Rate Reprieve’ End Nears for Reverse Mortgage Borrowers

All other things being equal, prospective borrowers of a Home Equity Conversion Mortgage (HECM) could see as much as $10,000 more in loan proceeds this week when compared to mid-November, 2018. This is based on data provided to RMD by Dan Hultquist, the author of Understanding Reverse and Live Well Financial’s vice president of education […]

Long-term Care Insurance Grows More Difficult for Seniors to Fund

Options for long-term care (LTC) insurance are diminishing in the marketplace, but a new industry-specific price index has revealed a substantial spread in costs for plans with similar coverage when compared with prior years. According to a new report released by the American Association for Long-Term Care Insurance (AALTCI), a couple in the mid-50s age […]

Financial Planners Warm to Reverse Mortgages, Though There’s Still Work to Do

Although there are still issues in the general reputation of reverse mortgage product offerings, more financial advisors and planners have shown signs of warming up to the product and how it could help their clients to fund retirement. This is according to a story found in Financial Advisor (FA). Still, even with progress having been […]

For Reverse Mortgage Originators, Government Shutdown is Business as Usual

Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]