Urban Institute: Reverse Mortgages Used Far Less than Other Equity Tapping Options

Reverse mortgage products represent the least popular option of extracting home equity compared with three alternative methods, including open-ended Home Equity Lines of Credit (HELOCs), cash-out refinance mortgages, and closed-end home equity loans. Reverse mortgage use can also vary significantly based on race and ethnicity due to a number of different factors. This is according […]

Washington Post: Consider Reverse Mortgages, But Be Aware of Cons

Reverse mortgages can be viable options for older Americans who are looking to borrow money for an abundance of reasons, and should be considered based on their own merits. Still, prospective borrowers should be aware of any potential cons that reverse mortgages may have, including high upfront costs and the critical necessity of being able […]

Justice Department Urges Supreme Court to Protect CFPB

The U.S. Department of Justice (DOJ) has filed a brief with the United States Supreme Court in a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB), urging the Court to protect the Bureau due to its “critical work” on behalf of American consumers. This is according to a copy of the brief […]

Presidential Hopefuls Bloomberg and Warren on Reverse Mortgages

The 2020 presidential election is still over 8 months away, but the election has heated up now that voters have begun caucusing in the Democratic primary election. As most political observers know, reverse mortgages in general and the Home Equity Conversion Mortgage program specifically don’t often come up as hot button topics of political conversation, […]

Nasdaq.com: Reverse Mortgages are ‘Overhyped’

There are four “overhyped” investment strategies that retirees should avoid when trying to determine how to make ends meet in retirement, and among equity-indexed annuities, non-traded real estate investment trusts (REITs) and cash-value life insurance, reverse mortgages should be considered among the last options. This is according to Liz Weston, a certified financial planner and […]

National Notary Association: Reverse Mortgages ‘Good For Business’

While often overlooked by the notary business sector, the reverse mortgage industry can be a very positive resource for someone building a mobile notary business particularly for notaries who may reside in a part of the United States with a high population of seniors. This is according to columnist Carol Ray, the owner of a […]

Quicken Halts One Reverse Mortgage Operations, Shifts Focus to Rocket Mortgage

Top-10 reverse mortgage lender One Reverse Mortgage is “pausing” its operations, under the direction of its parent company Quicken Loans. The San Diego-based One Reverse reportedly informed its employees Monday that their jobs will be transitioned to roles within Quicken Loans in order to refocus their operations on conventional lending. One Reverse will complete its […]

Motley Fool: Reverse Mortgage a ‘Proven’ Way to Boost Retirement Income

Maintaining enough income in retirement is an ongoing issue for many American seniors, and finding effective methods to maintain or bolster senior finances becomes a major concern. One such proven way to boost retirement income is by employing a reverse mortgage, particularly since it requires no monthly payments. This is according to financial columnist Selena […]

Some Positive Reverse Mortgage Industry Effects of Oct. 2017 Changes

When the Federal Housing Administration (FHA) handed down changes to principal limit factors (PLFs) in October of 2017, by all accounts that changed proved nearly disastrous for the reverse mortgage industry. Endorsement volume for Home Equity Conversion Mortgages (HECMs) seriously declined, originators related stories of increased difficulty in finding qualified borrowers, and many still refer […]