Realtor.com Points to Renewed Reverse Mortgage Potential

During a time when financial planners have taken a renewed interest in reverse mortgages for their clients, a recent Realtor.com article suggests Realtors may also see a possible resurgence in reverse mortgage interest ahead. “For those close to retirement, a lack of savings may mean monthly expenses go unpaid. As a result, retirees may be […]

Why April Reverse Mortgage Numbers Don’t Tell the Full Story

Reverse mortgage endorsement volume for April as reported by the Department of Housing and Urban Development earlier this week indicated a month-over-month decline of roughly 45% — to just over 1,600 loans. But the numbers aren’t reflective of what’s happening in the market, several industry sources have shared with RMD, particularly at a time when […]

Plaza Home Mortgage Expands Jumbo Reverse Mortgage Program to 11 States

During a time when some lenders have scaled back their participation in the proprietary reverse mortgage landscape due to market volatility, one lender announced this week it is expanding its offerings. San Diego-based Plaza Home Mortgage, predominantly a wholesaler lender is expanding its Reverse Jumbo mortgage program to 11 states and will now be offering […]

Nationwide Equities Raises Loan Limits for EquityPower Jumbo Program

While some lenders active in the proprietary reverse mortgage market have recently pared down on their jumbo loan offerings, Nationwide Equities has rolled out an expansion of its EquityPower program, now with a loan limit of $6 million. Previously, the EquityPower was available for loan amounts up to $4 million, following the product’s launch in […]

[Sponsored] AAG Specialists: Now is the Right Time to Connect with Financial Professionals

While reverse mortgages have long been a viable option for many homeowners ages 62 and older, the current economic climate stemming from the COVID-19 coronavirus pandemic is leading more consumers and financial professionals to examine home equity conversion to help bridge the gap. American Advisors Group (AAG) is at the forefront of connecting with financial […]

Reverse Mortgage Volume Plummets in April Amid COVID-19 Crisis

Reverse mortgage endorsement volume fell sharply in April amid the COVID-19 crisis that continues to derail the U.S. economy and impact businesses and households in unprecedented ways. Yet the downturn in Home Equity Conversion Mortgage volume — which posted a 45% decrease to 1,601 loans during the month — does not tell the full story, […]

Reverse Mortgage Community Joins Forces to Bring Lost Loan to Fruition

During a time riddled with uncertainty and bad news stemming from the COVID-19 pandemic, several reverse mortgage players recently experienced a bright spot in the midst of the crisis — a collaboration that led to a lost reverse mortgage loan in progress getting back on track. On April 27, reverse mortgage technology company ReverseVision received […]

Class Valuation Launches Borrower App to Show Home Interior During Alternative Appraisals

In light of the Federal Housing Administration’s recent shift to allowing desktop and “drive-by” appraisals for FHA-insured mortgages during the coronavirus crisis, national appraisal management company Class Valuation is launching an app to aid both borrowers and appraisers. The app, INvision YourHome™, is a mobile-based platform that allows homeowners to share interior photos and property […]

President Trump to Nominate Dana Wade as Federal Housing Commissioner

President Trump today announced that he intends to nominate Dana Wade as Assistant Secretary for Housing, Federal Housing Commissioner. Brian Montgomery, who currently holds the position, is awaiting Senate confirmation for a role as deputy secretary of the Department of Housing and Urban Development, after his nomination was recently confirmed by the Senate Banking Committee. […]

Nationwide Equities Launches New ‘EquityPower’ Proprietary Reverse Mortgage

On the heels of a flurry of new private reverse mortgage product development, top-20 lender Nationwide Equities Corporation announced this week the introduction of its own private reverse mortgage, “EquityPower.” The fixed-rate, lump-sum product allows borrowers to access greater proceeds than the traditional Home Equity Conversion Mortgage (HECM) allows. Nationwide’s leadership sees the product’s launch […]