Programming Note: RMD Independence Day Schedule

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 Thursday, July 4 and Friday, July 5 in observance of Independence Day. Our normal posting schedule and daily email will resume on the morning of Monday, July 8. We […]

Fox Business: 22% Say Retirement Savings Worse Than Before Great Recession

More than 1-in-5 American survey respondents who were adults when the Great Recession began in December, 2007 now say that their retirement savings are worse now than they were before it hit the market, according to a survey conducted by personal finance website Bankrate. This may be because the effects of the Recession were underestimated, […]

An Inside Look at NRMLA, the Reverse Mortgage Trade Association

The National Reverse Mortgage Lenders Association (NRMLA) is the foremost advocacy and educational organization in the reverse mortgage industry, taking on a wide variety of responsibilities in an effort to educate potential borrowers and further legitimize the tapping of home equity as seniors try to determine the course of their financial futures. Steve Irwin, Executive […]

401K Participants Not Saving the Amount Believed to Be Needed

New research indicates that although participants in 401K retirement savings plans believe that they’ll need roughly $1.7 million in order to fully fund retirement, most participants aren’t saving nearly enough to reach that goal. This is according to a national survey conducted by Schwab Retirement Plan Services. The survey, conducted on a national scale with […]

The RMD Podcast #3: Interview with NRMLA EVP Steve Irwin

In the third episode of The RMD Podcast, we go behind the scenes of the National Reverse Mortgage Lenders Association (NRMLA) by speaking with its Executive Vice President. Steve Irwin is one of the most visible leaders of NRMLA, on the front lines of both reverse mortgage industry advocacy and education. In our exclusive interview, […]

How Reverse Mortgages are Breaking Records Across Northern Border

After changes to the Home Equity Conversion Mortgage (HECM) program were handed down by the Department of Housing and Urban Development (HUD) and the Federal Housing Administration in October 2017, the American reverse mortgage industry has had something of an uphill battle to climb in trying to recover a large amount of lost volume. Some […]

FHA Financial Assessment Appears to Be Working, Data Suggests

The requirement of a financial assessment (FA) of a reverse mortgage borrower’s ability to pay, now in its fifth year, is working by cutting tax and insurance defaults considerably. This is according to data analysis conducted and released Thursday by New View Advisors. “FHA’s new policy of requiring the financial assessment of the borrower’s ability […]

Industry Expert: What USA Today Got Wrong About Reverse Mortgages

Even before USA Today published an article this month taking aim at reverse mortgages and the associated industry’s practices, the news outlet had previously published articles that relate caution to its readers concerning the idea of engaging in a reverse transaction. One such article was posted back in April, and a prominent industry expert has […]