An UberNerditorial on Reverse Mortgages

I came across a great commentary on reverse mortgages from Tanta at Calculated Risk. Here is a quick look at the article: Reverse mortgages are truly Different. They are really the first mortgage product that was “engineered” for a highly specific borrower and situation. That borrower is of retirement age or older, is on a […]

Do People Plan to Tap Their Home Equity in Retirement?

Reverse Mortgage Information came across a study from Boston College that asked retirees if they are planning on taping their homes equity to pay for living expenses.  Below is a quick snapshot from the post. The purpose of this study is to determine if attitudes among soon-to-be-retired babyboomers are any different with regards to using home equity for […]

Reverse Mortgages are Subprime Loans?

“A lot of these activities are illegal. We have a high rate of senior citizens and immigrants here, and these lenders are preying on the elderly with reverse mortgages that are really subprime loans.”          – Leroy Comrie, City Councilman (D-Queens). In today’s New York Daily News there is an article that discusses how subprime loans […]

Reverse Mortgages: Government Sponsored & Insured Payday Loans?

The next looming crisis is on the horizon and has started to trickle into the marketplace for the Reverse Mortgage industry. The coming crisis is the public perception that the rates and fees for Reverses are too high and that the government, regulators, investors, industry trade groups and others should establish standards on the origination […]

Reverse Mortgages, not your Steak and Potatoes anymore

As an attendee of the National Reverse Mortgage Lenders Conference in Newport Beach, I noticed that many new wholesalers and large investors from the REIT world and Wall Street were perusing the grounds. Of course the 800 pound gorilla was there and a handful of new entrants with some big pockets backing those entrants along […]