NRMLA Comments: CFPB “Guidance” Should Not be Treated as Rule

Informal guidance from the Consumer Financial Protection Bureau (also known as the Bureau of Consumer Financial Protection) should not be treated as rule from a compliance standpoint, according to a position held by the National Reverse Mortgage Lenders Association that was submitted in formal comments to the Bureau this week. Responding to a Request for […]

Reverse Mortgage Volume Falls to 2005-Era Lows

Reverse mortgage volume continued on a downward trajectory in June, falling 15% relative to May endorsements, according to Reverse Market Insight. With a total tally of 2,838 Home Equity Conversion Mortgages endorsed in June, volume is at its lowest monthly level since May 2005, RMI noted in its monthly commentary. Many have speculated about the “new […]

RMS Parent Ditech Explores ‘Strategic Alternatives,’ Company Sale

Ditch Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), announced Wednesday that it has initiated a process to evaluate strategic alternatives to enhance its shareholder value. The review process is being commenced following inquires from the company’s board of directors, and will be conducted with the assistance of financial and legal advisors. […]

Seattle Emerges as Bright Spot Amidst Reverse Mortgage Fallout

Despite the downturn in Home Equity Conversion Mortgage endorsement volume in February, largely attributable to program changes implemented in October 2017, several areas saw substantial year-over-year growth during the first two months of combined data in 2018. Those areas, Seattle and Portland, have outpaced the national 27.9% increase in year-over-year volume for January and February […]

Forbes Column: Retirees Can Save With Reverse Mortgage for Purchase

While many senior homeowners opt to relocate in retirement, they may be missing out on an opportunity to mitigate problems and best support their retirement, writes reverse mortgage proponent and financial advisor Jamie Hopkins in a Forbes column this week. Presenting the historical landscape for home equity growth versus stock market returns, Hopkins, who is Co-Director […]

Webinar Gives Answers to Consumer Questions on Reverse Mortgages

Reverse mortgages may be getting a positive reception in press outlets and the financial planning community, but there are still some myths and questions that remain among prospective borrowers. A webinar panel hosted by the National Reverse Mortgage Lenders Association and Next Avenue — an information outlet for individuals 55 and over — aimed to […]

ReverseVision Completes Integration with Allegiant Reverse Services

Reverse Mortgage origination platform ReverseVision today announced it has completed an integration with title and settlement services provider Allegiant Reverse Services, based in Roseville, Calif., which conducts Home Equity Conversion Mortgage closing services. Through the integration of ARS’s Order Source order management system and ReverseVision’s RV Exchange, ARS settlement agents can place title orders and […]

RMS Parent Ditech Appoints New CEO

Ditech Holding Corp., the parent company of Reverse Mortgage Solutions, announced Wednesday it has appointed board chairman Thomas F. Marano as CEO and president of the company, effective immediately. Marano replaces interim CEO and president Jeffrey Baker, who will continue to serve as president of RMS.  “We are pleased to appoint an executive of Tom’s […]