Here’s How the Latest Home Equity-Tapping Tools Stack Up

When it comes to utilizing a wealth of built-up equity, homeowners have an array of options available on the market. Aside from reverse mortgages — both federally backed and proprietary — many shared equity products and sale leaseback products have popped up in recent months, each with their own features, fees, and structures. RMD gathered […]

1st Reverse Mortgage USA Brings Reverse Mortgages to Forward Lending

With a rapidly aging population, rising interest rates, and forward loan officers looking for alternatives for their borrowers, 1st Reverse Mortgage USA is working to bridge the gap between forward and reverse lending. Currently ranked 16 on the Top HECM Lenders list from Reverse Market Insight, 1st Reverse Mortgage USA is the reverse mortgage division […]

Reverse Mortgage Counselors See Uptick in H4P, Proprietary Sessions

Because steering is strictly prohibited in the Home Equity Conversion Mortgage world, there is little opportunity for counselors and originators to communicate. But during a panel discussion at the National Reverse Mortgage Lenders Association conference last month, reverse mortgage counselors offered their insights on current trends they are seeing via counseling sessions. Counselors on the […]

Servicers Give Updates on Non-borrowing Spouses

As complex servicing issues regarding non-borrowing spouses continue to challenge reverse mortgage originators, servicing experts offered their guidance on updates to Home Equity Conversion Mortgage servicing at the National Reverse Mortgage Lenders Association conference last month. As many loan originators continue to be a main source of loan-related support long after the reverse mortgage is […]

FHA Automates User ID Processes

The Federal Housing Administration is discontinuing paper documentation and moving to email for two parts of the user ID assignment process for application coordinators. Both changes will be effective November 9. Under one change, mortgagees’ chief executive officers will begin being notified via email when an employee has been assigned a new user id. The […]

Reverse Mortgage Changes Prompt Originators to Rethink and Rebrand

For any reverse mortgage professionals repositioning their businesses with new products and different strategies amid recent industry changes, now is the perfect time to rebrand, marketing experts say. October 2017’s Home Equity Conversion Mortgage principal limit factor changes and the waning volume they caused over the last year have many lenders and originators looking to […]

NYSE Delists RMS Parent Company Ditech

Following multiple warnings, Ditech Holding Corporation (NYSE: DHCP), the parent company of Reverse Mortgage Solutions, is being delisted from the New York Stock Exchange. The NYSE is delisting the company after its failing to meet the NYSE’s listing standard requiring companies to maintain at least $15 million in average global market capitalization over a consecutive […]

Ocwen Explores New Product Alternatives As Reverse Business Shrinks

Ocwen Financial Corp. (NYSE:OCN), the parent company of Liberty Home Equity Solutions, reported a loss of $0.9 million in pre-tax reverse mortgage revenue during the third quarter of 2018, and executives are looking to new products to add to their offerings. Overall reporting a company-wide net loss of $41 million, executives blamed the reverse mortgage […]

WaPo: Qualifying for a Mortgage Difficult in Retirement

Even for seniors with impeccable credit scores and plenty stored in assets, purchasing or refinancing a home in retirement without regular employment income can be a challenge, a recent column in the Washington Post says. In his column “Even retirees with sizable assets can find qualifying for a mortgage challenging,” Kenneth Harney writes that retired […]

HUD: Falling HECM Volume, Principal Limits Reflect Latest Program Changes

In an effort to illustrate the impacts of the latest reverse mortgage program changes, Federal Housing Administration officials presented supporting data at the the annual National Reverse Mortgage Lenders’ Association conference in San Diego last week. For the past 13 months, the reverse mortgage industry has been adjusting to lower principal limit factors and higher […]