As parts of the Bahamas and Southeastern U.S. are bearing the brunt of Hurricane Dorian, the Consumer Financial Protection Bureau (CFPB) has released a new guide for borrowers of Home Equity Conversion Mortgages (HECMs) who have been affected by natural disasters. “Today we released a guide for older homeowners on how to meet their reverse […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 15 percent to 2,341 loans for the month of August 2019, a disappointing figure considering that the past six months have seen more positive endorsement activity spinning out of the uncertainty exhibited at the start of the year. This is according to the August HECM Lenders report […]
In the wake of the arrest of former reverse mortgage executive Michael Hild, the ongoing saga related to the forced Chapter 7 bankruptcy of his former reverse mortgage company Live Well Financial has continued. One of the company’s former financiers is now gaining access to over half of what it is owed by Live Well. […]
The production of new Home Equity Conversion Mortgage-backed securities (HMBS) totaled $637 million in August, with lower interest rates strengthening new production. This is according to publicly available GNMA data and private sources compiled by New View Advisors. August saw 93 pools issued, which included approximately $390 million of new unseasoned Home Equity Conversion Mortgage […]
Making connections with different trusted advisors can be essential for reverse mortgage originators to remain competitive in the current industry landscape. While not all originators see the appeal in making connections with professionals like lawyers, financial planners or Certified Public Accountants (CPAs) in facilitating viable reverse mortgage leads, one originator and industry educator swears by […]
A reverse mortgage can be a viable financial product for seniors looking to protect their retirement assets from a volatile influencer like the stock market, while also reducing the risk of a retiree exhausting all of their financial resources in retirement. This is according to an article on funding longevity recently published in Kiplinger. “Reverse […]
In the fifth episode of The RMD Podcast, we speak to reverse mortgage industry speaker and HighTechLending producing branch manager and trainer Martin Andelman! Beginning his career as a writer, Andelman found an affinity for the reverse mortgage product before finding a new career path in the industry. Attendees at industry conferences have likely seen […]
Former CEO of now-defunct reverse mortgage lender Live Well Financial, Michael C. Hild, has been arrested by the Federal Bureau of Investigation (FBI) in connection with an alleged bond fraud committed between 2015 and 2019. Co-conspirators Darren Stumberger, former Live Well EVP and Eric Rohr, Chief Financial Officer were also charged in the alleged scheme […]
While more seniors today are embracing more active lifestyles and generally working longer, academics conducting research into the lives of modern older Americans are also recording an increasing trend in seniors’ embrace of debt, which has both financial consequences while also raising mental health concerns. “The median total consumer debt of households headed by someone […]
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for your continued support! As a reminder, RMD’s Chicago headquarters will be closed on Monday, September 2 in observance of Labor Day. Our normal posting schedule and daily email will resume on the morning of Tuesday, September 3. We hope everyone enjoys the […]
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