CNBC: Reverse Mortgages Can Buffer Coronavirus’s Economic Shock

COVID-19, the so-called coronavirus which has sparked concerns of a global epidemic after spreading into multiple countries, has introduced additional volatility to the U.S. stock market as investors raise concerns over the effects the spread of the virus might have on the American economy. For retirees, there are steps that can be taken to try […]

AAG Details Updates to Private Reverse Mortgage Use Trends

In early 2019, American Advisors Group (AAG) revealed some surprising statistics related to the ways in which its proprietary reverse mortgage offering – AAG Advantage – was being employed by borrowers. Now, the company has shared updates to the ways its non-FHA offering is primarily being leveraged by a more recent class of borrowers. This […]

Former CFPB Director Cordray Reveals Near Firing by Trump

Just as the United States Supreme Court prepares to hear oral arguments on the constitutionality of the Consumer Financial Protection Bureau (CFPB)’s single director structure, the Bureau’s inaugural director reveals that he believed he was nearly fired by President Donald Trump in a phone call which ended abruptly. This is according to a story in […]

Wholesale Leads Retail in December Reverse Mortgage Endorsement Drop

Home Equity Conversion Mortgage (HECM) endorsements fell by 13.6% in the month of December 2019, for a total of 2,456 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 21.1% that month, while wholesale levels […]

The RMD Podcast #10: Scott Norman of FAR

In the tenth episode of The RMD Podcast, RMD Editor Chris Clow is joined by the VP of Field Retail and Director of Government Relations at Finance of America Reverse (FAR), and co-chair of the National Reverse Mortgage Lenders Association (NRMLA) Scott Norman! Known for his instrumental role in expanding the reverse mortgage business to […]

Longbridge Launches ‘Platinum Ultimate,’ Expands LOC Product

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial has announced a new addition to its fixed proprietary reverse mortgage product suite. “Platinum Ultimate” adds a new, higher loan-to-value (LTV) variation to the existing proprietary Platinum product line, maintaining many of the existing features of current Platinum products. The company also announced expanded availability of its recently-launched […]

Liberty Parent Touts Reverse Business While Inching Back to Profitability

Ocwen Financial Corporation, parent company to reverse mortgage lender Liberty Home Equity Solutions, touted the ongoing growth of the reverse mortgage business while reaffirming its scheduled return to overall profitability, according to financial documents released this week and a Tuesday morning earnings call. “Our reverse mortgage lending business is now ranked as the number three […]

Election 2020: Bernie Sanders and Donald Trump on Reverse Mortgages

With the 2020 presidential election in full swing, the field of Democratic candidates has narrowed considerably since the first debates in 2019 while primary challengers for the Republican nomination have largely fallen by the wayside due to the party’s support of the current President of the United States. Whoever is elevated to the highest office […]

WalletHub: States With the Highest and Lowest Property Taxes

In order to keep a reverse mortgage loan in good standing, a borrower has to maintain the property to the standards of the Federal Housing Administration (FHA), and they have to be current on their payments to their homeowners insurance and property taxes. Not all tax environments are created equal, however, since different states have […]