Voices: Jim Magner, Chief Technology Officer, ReverseVision

This article is sponsored by ReverseVision. In this Voices interview, RMD sits down with Jim Magner, ReverseVision Chief Technology Officer to get his take on the current state of reverse mortgage technology, how ReverseVision is approaching market expansion by bringing reverse mortgage origination capabilities well beyond the current industry players, and how a varied background […]

The Top 10 Reverse Mortgage Stories of 2020

It’s likely fair to say that compared with the outlook one year ago, as we were anticipating the arrival of 2020 in the waning days of the prior year, things generally worked out quite a lot differently than people were expecting. 2020 brought with it an enormous set of challenges for people all over the […]

FHA Adds 2 New MLs for Loan-Level Certification, Manufactured Home Standards

On the heels of announcing a slew of Mortgagee Letters (MLs) this week dedicated to continuing relief programs in the midst of the COVID-19 coronavirus, the Federal Housing Administration (FHA) on Tuesday published two additional Mortgagee Letters (MLs) which apply to both the traditional forward mortgage and Home Equity Conversion Mortgage (HECM) programs. Manufactured housing […]

Programming Note: Wishing You a Happy Holiday Season from RMD

With only days remaining until Christmas, the team here at Reverse Mortgage Daily wants to express warm wishes and happy holidays to all of our valued readers! In observance of Christmas and New Year’s Day, RMD and Aging Media Network will be closed from Thursday, December 24 to Friday, January 1, with our normal posting […]

HUD Extends Pandemic Reverse Mortgage Relief to 2021 in Slew of Mortgagee Letters, Waivers

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced the extension of relief initiatives which apply to the reverse mortgage program in a slew of Mortgagee Letters (MLs) issued on December 17, and which were formally announced on Monday. The agencies also announced new extensions of Home Equity […]

USA Today: Reverse Mortgage Could Help Retirees Avoid Exhausting Funds

The judicious use of a reverse mortgage has the potential to aid those at or near retirement in avoiding exhausting their financial resources while on a fixed income, something that is likely of particular interest to those who are concerned of outliving their resources well after they’ve retired from a career. This is according to […]

Reverse Mortgage Executives Look Back at Eventful, ‘Resilient’ 2020

The experience of working in the reverse mortgage industry in 2020 inspired many different reactions at different parts of the year, from general optimism in the first couple of months to uncertainty during the immediate onset of the COVID-19 coronavirus pandemic. Soon after that point, things started to take a bit of a different turn […]

Reverse Mortgage Lender Forges Educational Partnership With Financial Service Association

Multi-channel mortgage lender CrossCountry Mortgage, LLC has announced the creation of a new educational partnership with the Society of Financial Service Professionals (FSP), an association made up of CPAs, attorneys, insurance experts, and financial advisors from many disciplines. The partnership is specifically designed to educate FSP members on the reverse mortgage product category, specifically the […]

LIBOR Restriction Delay Decided With Reverse Mortgage Industry Input, Originators React

This week, the Government National Mortgage Association (GNMA, or “Ginnie Mae”) announced that it had delayed a previously-declared January 1, 2021 restriction on the eligibility of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) for adjustable rate loans operating off of the London Interbank Offered Rate (LIBOR) index to March 1, 2021. The delay for originators […]

New York Reverse Mortgage Foreclosure Bill Signed by Gov. Cuomo

A bill in New York requiring area lenders to notify the state’s Department of Financial Services (DFS) and mortgagors of an impending foreclosure action on reverse mortgage borrowers has been signed into law by Governor Andrew Cuomo, codifying the measure into law after being passed by both houses of the state legislature this past summer. […]