CFPB Now Accepting Comments for HMDA Rule Proposal

The Consumer Financial Protection Bureau (CFPB) announced on Wednesday that it is now accepting comments concerning a proposed rule change to aspects of the Home Mortgage Disclosure Act (HMDA), changes which would affect coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit. “Specifically, the Bureau requests comments on […]

Ditech Sale Timing Uncertain Pending RMS Woes

On the heels of issues related to Ditech Holding Corporation’s planned sale of Reverse Mortgage Solutions (RMS), real estate investment company New Residential Investment Firm says that legal concerns affecting Ditech could impact the deal closing. New Residential (NYSE: NRZ) disclosed Q2 2019 earnings on Tuesday, adding a note of caution concerning its plans to […]

Forbes: Good Reasons for Taking Early Social Security Benefits Are Few

Taking Social Security benefits as early as possible, at age 62, is not very beneficial for an American retiree concerned with maximizing their post-working income. This is according to Steve Vernon, FSA and consulting research scholar in the financial security division at Stanford University’s Center on Longevity in a new piece at Forbes. “There are […]

Tips for Talking to ‘On-The-Fence’ Reverse Mortgage Prospects

For originators, having sales conversations that ultimately yield a new reverse mortgage loan that accomplishes the goal of closing while meeting the specific needs of borrowers is always the goal, but that goal also comes with the chance of failure. Sometimes making those conversations even more difficult is a scenario in which a potential borrower […]

Waters Takes Aim at Forward FHA Mortgage Servicers With New Bill

The office of Congresswoman Maxine Waters (D-CA), chairwoman of the House Financial Services Committee, announced last week the development of new legislation specifically designed to mitigate the number of foreclosures associated with forward mortgage loans backed by the Federal Housing Administration (FHA). The proposed bill, called the FHA Foreclosure Prevention Act of 2019 aims to […]

How Originators Respond to Negative Reverse Mortgage Media Coverage

It’s no secret that in terms of the ways it’s communicated to the public as a financial product, the reverse mortgage has had difficulty in both gaining and maintaining public trust. Reputational challenges abound for the industry when trying to connect with potential borrowers, which can be impeded further depending on the kind of media […]

Study Names the 5 Best Big and Small Cities for Seniors

A new study from Apartment Guide has determined the five best big and small cities, respectively, for seniors against a number of different criteria. Each location was graded by examining their population sizes, compared with the availability of certain services and facilities aimed primarily at the senior demographic. “After compiling a list of 760 cities […]

Liberty Home Equity Solutions Offers More Details on ‘EquityIQ’ Jumbo

On the heels of a flurry of new proprietary products and product features from the nation’s top reverse mortgage lenders, Liberty Home Equity Solutions last week announced the launch of its EquityIQ to compete in the space. Proprietary products are currently seen among reverse mortgage industry players as a path to the business’s future prosperity, […]

RMF Hires Scott as Account Exec

After announcing the hiring of Tim Griffin as an account executive overseeing third-party originator (TPO) relationships with brokers, Bloomfield, N.J.-based lender Reverse Mortgage Funding (RMF) announced an additional appointee. The company has hired Jaimee Scott to serve as an account executive, and her responsibilities will have similar scope to Griffin’s in that she will also […]

New American Funding Plans to Add 1,000 Jobs, Includes Reverse Recruiting

California-based mortgage lender New American Funding (NAF) announced plans on Wednesday to add nearly 1,000 new jobs to its national employment ranks by the end of 2019’s fourth quarter. While not specifically mandated to add to the company’s ranks of reverse mortgage staff, NAF Reverse National Production Manager Ellen Skaggs confirmed for RMD that the […]