USA Today Publishes Industry Op-Ed on Reverse Mortgage Report

A rebuttal to an investigative article released this week by USA Today has been published in the form of an editorial also released in the national news outlet, written by the Chief Executive Officer of the National Reverse Mortgage Lenders Association (NRMLA). In the editorial, titled “A reverse mortgage can be a lifesaver,” Peter Bell […]

Hometown Lenders to Launch HECM Lending Channel, Partner With ReverseVision

Editor’s note: RMD has learned that the launch of Hometown’s reverse mortgage division is forthcoming and is not yet operational. We will provide future updates as information becomes available.  Hometown Lenders, an 80-branch mortgage lender, will be launching a reverse mortgage division with the support of ReverseVision. The company will work with the support of ReverseVision’s software and will begin offering […]

Urban Institute: Panel Discusses Aging in Place, HECM Program

While a continuous stream of surveys continue to corroborate that seniors overwhelmingly prefer to age in place, making a determination about exactly the right place for them to age is a more difficult and complex issue to try and answer. This is according to a recently and privately convened panel of experts on aging and […]

USA Today Investigates Reverse Mortgage Foreclosures, Evictions

A new in-depth investigation on foreclosure actions related to reverse mortgages published late Tuesday by USA Today paints a bleak picture surrounding the activities and practices of the reverse mortgage industry, but also relates some questionable and out-of-date information in key areas highlighted by the investigation, according to industry participants who spoke with RMD. The […]

Live Well Challenges Former Employee’s Wrongful Termination Lawsuit

A week after the closure of mortgage lender Live Well Financial, a former employee filed a class-action lawsuit alleging lost wages and wrongful termination under the terms of the Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 days of advance notice before dismissing employees. Now, Live Well is pushing back by challenging the […]

Tips for Tackling Closing Costs With Reverse Mortgage Borrowers

No matter the business, there are always issues that can come up when trying to close a deal. In the reverse mortgage industry these hurdles can be particularly bothersome because, as most loan originators know, consumers have access to all kinds of inaccurate information that could make them nervous about engaging in a reverse mortgage […]

U.S. News: Senior Mortgage Tips Include Reverse Mortgages

A mortgage finance expert describes how reverse mortgages can potentially act as a “lifesaver” for some seniors in specific financial situations, along with offering advice related to home equity levels and optimal financial planning strategies related to taking a reverse mortgage out. This is according to a new piece running down mortgage tips for seniors […]

RMD Report: Alternative Equity Tools Could Bode Well for Reverse Mortgage Industry

In addition to the plethora of proprietary reverse mortgage products that have started to become increasingly prevalent in the industry, there have also been a series of products that allow some homeowners to tap the equity in their homes without relying on a debt-based loan. The increasing availability of alternative equity tapping tools – including […]

Ocwen Transfers 1 Million Loans to New Platform, Finalizes Merger Details

Ocwen Financial Corporation (NYSE: OCN) announced Monday that it has completed the final phase of transferring 1 million forward loans to a new servicing platform, and has consolidated its legal entity under a new name that reflects an acquisition the company made last year. The final phase of the company’s loan transfer process and transition […]

FHA Commissioner Talks HECM Program Benefits to Seniors, Potential Changes

Because of the government-insured nature of the Home Equity Conversion Mortgage (HECM) program, many of the biggest and most influential changes to it come from the federal government, specifically the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA). The possibility of new HECM program changes was one of the topics […]