For older Americans, planning for retirement can be a unique challenge, especially as most older adults prefer to age in place. And while a reverse mortgage can help retirees achieve this while living in their homes, on-demand technology can help them stay in their homes by providing the services they need to maintain their independence. That’s why tech […]
In the wake of the landmark Supreme Court ruling late last month, which gave same-sex couples the right to marry nationwide, organizations and agencies across the country have had to adjust their policies to accommodate expanded protections and opportunities for the LGBT community. But one agency won’t have to alter any of its books: the […]
In case you missed it, here’s what happened in reverse mortgage news this week: NBC News: Widow’s Reverse Mortgage Tale Reveals Risks — Eighty-two-year-old Arlene Hill claims an “eager” broker provided false information about the terms of the reverse mortgage, and she is now fighting to keep her home in Simi Valley, Calif. since her husband passed […]
A two-tiered mortgage market has emerged in the U.S., favoring the affluent — and mostly white — borrowers, while saddling middle-class and minority workers with an array of fees and extra costs, according to an article in the LA Times. Lending standards have loosened since the Great Recession, but that mostly applies to homebuyers with […]
Despite lingering concerns over the Financial Assessment’s impact on the industry, reverse mortgage lenders aren’t slowing down their hiring efforts anytime soon. In fact, job opportunities abound — from positions as reverse mortgage loan officer and wholesale account executive to mortgage relationship manager and more. Among the companies seeking qualified individuals to join their growing […]
Long considered a loan of last resort, reverse mortgages now have their place in financial planning for even the mass affluent, a cohort of 10 million to 15 million baby boomers who have between $750,000 and $2 million of net worth at retirement, according to an article by The Huffington Post. These homeowners, who could have homes […]
At $4.27 billion for the first six months of 2015, HREMIC issuance is already at 85% of 2014’s full-year issuance of $5.05 billion, and is expected to surpass 2012’s record $6 billion of issuance, according to the latest Ginnie Mae data compiled by New View Advisors. Fifteen transactions underwritten by three sponsors — Nomura, Bank […]
As a result of the 9% year-over-year growth in home sales, home prices have steadily risen, giving way to “important ramifications” for the overall economy, including positive equity that can increase homeowners’ wealth and place underwater homeowners “right-side up,” a recent CoreLogic report states. In fact, the CoreLogic Home Price Index (HPI) for the U.S. was up 6.8% […]
Despite some “disappointing” poll data suggesting the Financial Assessment may be impacting reverse mortgage volume more than originally anticipated, counseling volume paints a slightly different picture, says Jerry Wagner, president of Ibis Software Corporation. In fact, counseling volume over the most recent four weeks is down only 12%, when using the average of the 21 weeks from […]
A reverse mortgage could be a “viable proposition” for older homeowners looking to tap home equity — but they must heed the caution “look before you leap,” and educate themselves before they borrow, a recent article by The Huffington Post suggests. In fact, reverse mortgage borrowers should arm themselves with six tips when shopping around […]
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