Reverse Mortgage Securities Issuance Rebounds Slightly From Latest Low

New tails and old loans have helped HECM mortgage-backed securities (HMBS) bounce back since April’s meager $396 million issuance tally. Still, issuers only created $582 million in new HMBS pools during May 2014, the sixth smallest issuance since May 2009, according to the latest monthly commentary from New View Advisors’.  In comparison, HMBS issuance totaled $845 million in May 2013, […]

AAG Goes to Washington in Latest Reverse Mortgage Commercial Launch

American Advisors Group (AAG) has launched a new five-commercial series with today’s airing of “Working Together,” a TV ad that emphasizes the benefits of reverse mortgages and highlights changes made under the Reverse Mortgage Stabilization Act of 2013. The first commercial began running Monday on major networks including ABC, NBC and CBS. Though still featuring product spokesman and […]

Baby Boomers Not Showing Any Signs of Downsizing

Despite speculations of a fast-approaching shift in housing as baby boomers reach retirement age, most of them are unlikely to downsize anytime soon, according to a report released by Fannie Mae.  In fact, the number of boomers living in single-family detached homes actually increased slightly between 2006 and 2012 — about 38.3% of trailing boomers […]

Donovan: $25 Billion Mortgage Settlement Was Biggest HUD Accomplishment

After more than five years as secretary of the Department of Housing and Urban Development, Shaun Donovan has played a role in many of the department’s key initiatives, and reminisces on his work in an interview with The Washington Post. Donovan, who played an integral role in reforming the Home Equity Conversion Mortgage program, did not […]

Jobs Now Open for Reverse Mortgage Loan Officers, Originators and More

Reverse Mortgage lenders nationwide are continuing to expand their teams of professionals as the industry adapts to ongoing change. As they prepare for an upcoming borrower financial assessment and adjust to new products in the market as well as changes to the existing product mainstays, lenders are seeking new talent.  Openings are available around the […]

CFPB Launches Probe Into Mobile Financial Services

The Consumer Financial Protection Bureau announced today its interest in entering the field of mobile financial services and the launch of an inquiry seeking information from the public on the topic.  The Bureau’s inquiry specifically focuses on how mobile banking can be used to improve the financial lives of underserved consumers, a segment which may […]

WSJ: Tech Making Inroads to Help Seniors Age in Place

Researchers are using radar and 3-D technology to prevent elderly people from falling with the hopes of keeping them in their homes longer, a Wall Street Journal article reports.  Because falling affects one in every three adults age 65 and older, according to the Centers for Disease Control and Prevention, scientists are diving deeper into […]

Breaking Even a ‘Reasonable Outcome,’ As Mortgage Profits Fall

Independent mortgage banks and mortgage subsidiaries of chartered banks experienced a loss in profits for the first quarter of 2014, reporting a net loss of $194 on each loan they originated in 2014, according to a Mortgage Bankers Association (MBA) report. The report tracks only forward mortgage data in its compilation, not reverse.  The MBA’s […]

Friday Round Up: RMF Suspends Reverse Mortgage Product, AAG Tops Rankings

In case you missed it, here’s what happened in reverse mortgage news this week. RMF Suspends HECM Choice Reverse Mortgage Reverse Mortgage Funding LLC has suspended HECM Choice from its offerings, following an April 1 rule issued by Ginnie Mae prohibiting the fixed-rate loans.  Reverse Mortgage Volume Up as AAG Keeps Top Lender Spot American Advisors Group ranked […]

56 Housing Markets Return to Normal Activity

Housing and economic activity show signs of recovering, as 56 of the 350 metro markets nationwide have returned to or exceeded their last normal levels of activity, according to a recent report.  Data collected for the National Association of Home Builders/First American Leading Markets Index (LMI) shows this improvement is a net gain of nine metros […]