WSJ Op-Ed: A Disservice to Seniors Interested in Reverse Mortgages

In mid-December, the Wall Street Journal published an article asserting the Federal Housing Administration should pare down its reverse mortgage support. In response, the WSJ last week published an op-ed by National Reverse Mortgage Lenders Association President and CEO Peter Bell pointing to the disservice done by the publication in its assessment. In the original […]

When Does the Reverse Mortgage Industry Break 100,000 Units Again?

The last few years of running a business in the reverse mortgage industry has been a wild ride. From principal limit reductions to lender exits, it has been anything but boring. But after what seemed to be one negative after another, things seem to be changing now for the better. After a few extremely challenging years […]

Having Brands Like MetLife in Reverse Mortgages Helps, Here’s Why

In the last seven days, we’ve seen the power of having a company like MetLife in your industry. A study released last week by the MetLife Mature Market Institute on reverse mortgage findings has driven media conversation about the product. While not necessarily touting the positives or negatives of the use of the reverse mortgages […]

Family Matters: My Grandma’s Reverse Mortgage

During my time reporting for Reverse Mortgage Daily, I’ve talked to countless brokers, lenders, counselors, and others in the industry to gain knowledge of reverse mortgages—what they are and whom they impact. Even though I’ve heard numerous times about the involvement of family and the complexities that involvement can present, it took witnessing the dynamics […]

Barring Another Housing Catastrophe, HECM Portfolio To Improve Each Year

Nearly 20% of the Federal Housing Administration’s Home Equity Conversion Mortgage loans outstanding have a greater loan balance than the property is worth, but the worst may be over for FHA’s “underwater problem,” recent commentary published by New View Advisors states. Having stated in a recent piece of commentary that FHA’s outlook was “still too […]

Dear Congress: Please Stop Focusing on Reverse Mortgage Problems of the Past

Without the most relevant and timely data, it’s hard for anyone to make the right decisions—especially Congress. Even after consumer protections have been implemented for reverse mortgages, we continue to see the same outdated arguments presented before politicians. Case in point, during an early October hearing before the Senate Banking, Housing and Urban Affairs Subcommittee […]

Can Reverse Mortgages Sway Super Committee Negotiations?

A sword of Damocles hangs over the debt-driven “super committee” recently created by the Budget Control Act. Find $1.2 trillion in ten-year savings or else…automatic sequestration will meat-ax the same amount from mandatory and discretionary spending. [President Obama added another $447 billion to the super committee’s challenge by asking it to pay for his jobs […]

Why Six Months Can Feel Like a Lifetime

My introduction to the reverse mortgage industry began on February 7, 2011. For those who remember (and virtually all do), that was the Monday after Bank of America announced it would no longer originate reverse mortgages. I arrived to that first day on the job with virtually no background on reverse mortgages, and no way […]

Wells Fargo’s Exit From Reverse Mortgages Done Right? Not Quite

“I can’t comment publicly, but all I ask is you give me an hour,” the Wells Fargo spokesperson said to me during a brief conversation about three hours prior to the official announcement. “We want to make sure we do this right.” After getting over the initial shock of the announcement, I was expecting some […]

Does the U.S. Need a Reverse Mortgage For Younger Borrowers?

When I read that Canada’s HomEquity Bank released a reverse mortgage product available to people 55 and older, I was impressed. Someone was offering a product that wasn’t available here in the United States. Up in Canada, the market for reverse mortgages is continuing to grow, up 16% from last year and brings HOMEQ Corporation’s […]