Survey Finds Reverse Mortgage Appeal Higher Among Those Under 50

Around 15% of Americans say they would consider a reverse mortgage once eligible, according to a new survey released Thursday, with responses varying widely depending on age. Among respondents — investors between the ages of 35 and 64 who were polled by Kiplinger and digital wealth management company Personal Capital — 31% of those under […]

RMF Takes Top Spot for Reverse Mortgage Securities Issuance in 2018

Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]

HECM Endorsements Halted During Partial Government Shutdown

Home Equity Conversion Mortgage insurance endorsements are being halted as a result of the partial U.S. government shutdown that began on Saturday, according to a notice sent by the Federal Housing Administration (FHA) on Wednesday morning. Due to a lapse in appropriations, the shutdown entered its fifth day on Wednesday. Until further notice, the FHA […]

Class Valuation Acquires Landmark Network, Plans to Expand

National appraisal management company Class Valuation has acquired Landmark Network as of Friday, the companies have announced. Landmark, based in Van Nuys, California, has long been a leader in the reverse mortgage space through its real estate appraisal offerings, and Class identified the opportunity in Landmark based on its presence in the growing baby boomer […]

Lenders Prepare for 2019 Reverse Mortgage Challenges

Recent program changes and new appraisal rules have led reverse mortgage lenders to update their strategies and approaches in a consistently dynamic market. And on the the heels of major product changes implemented in late 2017, many longtime reverse mortgage players have adapted their businesses accordingly. Yet there are several challenges that remain in light […]

RTG Reverse Mortgage Servicing Platform Adds Borrower Website, Updates

Several months after announcing the launch of reverse mortgage servicing technology platform ReverseQuest, Reverse Technology Group (RTG) has launched a new borrower portal that allows reverse mortgage holders to access their account information online. “The website works just like your forward mortgage website where after registration, the borrower is able to view the loan balance, […]

[Update] Despite Gain, Reverse Mortgages Continue to Weigh on FHA Insurance Fund

The reverse mortgage portion of the Federal Housing Administration’s Mutual Mortgage Insurance Fund continues to drag on the overall government-backed portfolio, according to an annual actuarial review of the fund’s finances released Thursday morning. At the end of fiscal 2018, the Home Equity Conversion Mortgage cash flow net present value, a measure reported to Congress […]

Tips to Addressing The New Appraisal Rule with Reverse Mortgage Borrowers

With a month of experience with the Department of Housing and Urban Development’s new collateral risk assessment for reverse mortgage properties, lenders have reported a relatively smooth process in submitting appraisals to HUD and receiving responses as to whether a second appraisal is needed. And an industry working group has been studying the process, finding […]

AAG Adds VA Loans to Retirement Product Offerings

The latest in new product offerings for the nation’s largest reverse mortgage lender, American Advisors Group is adding government-backed Veterans Affairs (VA) loans to its offerings, the company announced Wednesday. Adding to the company’s suite of products that includes Home Equity Conversion Mortgages, jumbo reverse mortgages, traditional “forward” mortgages and real estate services, VA loans […]