The Stress of Repaying $265 Billion in HELOCs

A large portion of home equity lines of credit (HELOCs) originated between 2005 and 2008 and representing $265 billion are outstanding and nearing the repayment phase. But consumers coming to the end of draw on these loans are more likely to go delinquent, not just on HELOCs, but also on other types of debt, according […]

U.S. News: Reverse Mortgages Reduce Housing Costs in Retirement

Housing can often be one of the biggest retirement expenses — but it can also be one of the biggest retirement assets, especially when tapping into home equity through a reverse mortgage. This strategy is one of six outlined in a recent U.S. News article, which explains a number of ways to pay less for housing […]

Reverse Mortgage Counselors Adjust to ‘New Normal’ Under Financial Assessment

One month into the Financial Assessment’s (FA) implementation, reverse mortgage counseling agencies are experiencing the calm after the storm. Despite some of the concerns counselors had prior to April 27, many are largely seeing the benefits of the Department of Housing and Urban Development’s (HUD) new guidelines.  “At the end of the day, this will […]

4 Reasons Reverse Mortgages Aren’t Mainstream Products—Yet

Despite ongoing changes that aim to make the reverse mortgage a safer product for consumers and the Federal Housing Administration-insured program as a whole, the product still has some barriers to overcome in order to transition into a mainstream retirement planning tool. Some of these barriers include the reverse mortgage’s upfront costs, misuse, the stigma associated with […]

Lenders Now Hiring Reverse Mortgage Professionals — Apply Today

Reverse mortgage lenders nationwide are continuing their search for top talent. From wholesale account executives to loan processors and underwriters, job opportunities abound.  First Bank, Live Well Financial and Reverse Mortgage Funding are among the lenders actively recruiting for industry professionals to join their teams.  Click the following opportunities that are now open to find out […]

Reverse Mortgage Volume Continues Steady Decline, But Some Buck Trend

For the fourth month in a row, home equity conversion mortgage (HECM) endorsement volumes have declined, dropping to the lowest level since September 2014, according to the latest data compiled by Reverse Market Insight (RMI).   In May, reverse mortgage volume fell -5% to 4,273 loans that month, a level not seen since last September when only 3,762 […]

CFPB Releases New Guide to Help Seniors Plan Ahead Financially

Diminished financial capacity, or the decline in a person’s ability to manage money and financial assets, may cause a person to become more vulnerable to investment fraud and other forms of financial abuse. As such, the Consumer Financial Protection Bureau (CFPB), in partnership with the Securities and Exchange Commission (SEC), has created a Consumer Advisory […]

CNBC: Reverse Mortgage — Friend or Foe?

A reverse mortgage, while an effective way to address the retirement income problem for many Americans, could also create new problems, depending on borrowers’ health and financial stability, a recent CNBC article suggests.  “Reverse mortgages can be an effective tool for retirees, but the problem is that the interest rates tend to be higher than […]

5 Ways Reverse Mortgages Can Serve as Retirement Planning Tools

In today’s world, Americans face a looming retirement crisis — one that has been well-documented over the past several years and which has created a new purpose for the reverse mortgage.  Gone are the days when reverse mortgages were considered a loan of last resort. Now, the product is gaining steam among financial planners as […]

Reverse Mortgage Jobs Available Nationwide — Apply Today

Halfway through 2015, reverse mortgage lenders are still searching for fresh new talent to join their growing companies.  Job opportunities abound nationwide — from California to New York. Positions include wholesale account executives, loan processors, loan officers and many more.  Reverse Mortgage Funding, Yadkin Bank, HighTechLending and Urban Financial of America are among the lenders […]