Merrill Lynch: Financial Planning Can Ease Burden for Widows

Although often avoided, planning for widowhood can be crucial in avoiding financial crisis if the unthinkable happens, recent research from Merrill Lynch suggests. To better understand how this life-changing event can affect a surviving spouse, Merrill Lynch partnered with Age Wave, an aging population research firm, for a report called “Widowhood: What to do when […]

California Poised to Take Center Stage in Private Reverse Mortgage Market

As new proprietary reverse mortgage products are teased and released, California sits as a prime potential market for borrowers looking for home equity-tapping options outside of the federal program. Favorable tax laws, high property values, and a large retiree population are a few reasons why jumbos could be poised to take off in the state. This […]

RiskSpan Adds Reverse Mortgage Data to Edge Platform

Home Equity Conversion Mortgage data has been added to the data libraries of RiskSpan, a leading provider of mortgage data analytics, the company announced Wednesday. The HECM addition includes more than half a billion records from Ginnie Mae, expanding the ways industry professionals can analyze reverse mortgage data. Available through RiskSpan’s Edge platform, the data will […]

Task Force Issues Call for Education on HECM Repayment Pitfalls

As the industry has positioned the Home Equity Conversion Mortgage as a strategic retirement tool for more affluent borrowers, an industry trade group recently issued an important warning: Do not accidentally terminate your loan by paying down your balance too low. Called a “HECM non-claim termination” in the Federal Housing Administration’s HERMIT system, this type […]

55+ Communities Stuck in Reverse Mortgage Limbo as Freeze Continues

Despite almost two years of public support and amended bylaws, residents in one of Arizona’s 55-and-up communities must continue to wait to open reverse mortgages. Residents of the Sun City West active adult community, about 30 miles northwest of Phoenix, got a glimmer of hope in May when their governing body rewrote a bylaw to […]

Ranking the Most and Least Expensive Places to Retire

After crunching all the numbers, Realtor.com has released a list of the most and least expensive places where the rapidly expanding baby boomer population can spend their retirement years. Realtor.com looked at cities already popular for seniors, and, not surprisingly, three of the most affordable locations are in Florida, with Sebring, Fla. and its $180,000 […]

Introducing New RMD Reporter Maggie Callahan

Hello Reverse Mortgage Daily readers, After almost a year of contributing content to Reverse Mortgage Daily, I’m pleased to be joining the team full-time, focusing on day to-day coverage of reverse mortgages and other related content. Alex Spanko will continue to be involved as an editor and occasional writer for the site, along with Elizabeth Ecker […]

Reverse Mortgage Originators Look to Emulate Lenders’ TV, Radio Success

Big-name pitchmen like Tom Selleck and Henry Winkler have graced reverse mortgage ads for large national lenders for years, but local originators also have also found their own paths to success using TV, radio, and the internet. Michael Banner, the president of Professional Mortgage Alliance LLC in Clearwater, Fla., is no stranger to using media […]