The organization previously known as the Funding Longevity Task Force, which had recently moved out of the American College of Financial Services, has found a new home with the University of Illinois at Urbana-Champaign (UIUC), along with a new identity created to more closely align with the academic nature of its mission. The organization, now […]
Some of the biggest risks inherent in a reverse mortgage transaction include the complexities of the Home Equity Conversion Mortgage (HECM) Program allowing for instances of misunderstanding, problems that can arise when someone is unable to pay, and inaccurate perceptions concerning what the loan repayment structure looks like. This is according to Dr. Wade Pfau, […]
Refinancing an existing reverse mortgage into a new and potentially better one could be an option that works for some senior homeowners, but it’s not a universally good solution for everyone. This is according to a new article at U.S. News & World Report by personal finance and business contributor Rebecca Lake. Not only would […]
When asked to serve as a sponsor at a recent retirement strategies event hosted by TheStreet, Finance of America Reverse (FAR) saw a unique opportunity to discuss ways in which home equity could be implemented into retirement strategies. What FAR Vice President of Retirement Strategies Steve Resch did not expect, however, was the positivity he […]
The idea of a senior using a reverse mortgage product to fund his or her retirement is too risky a proposition, and is erroneously sold as a “financial easy button” that betrays its real status as a very complicated financial product. This is according to global investor and author Kenneth L. Fisher in a column […]
There’s a shift under way toward more originators offering both reverse mortgage and forward mortgage products. Yet a complicating factor in this transition out of forward mortgages is the fact that the two industries use different terms to discuss similar concepts. This is a complicating factor identified by Michael Banner, president of Professional Mortgage Alliance, […]
The reverse mortgage industry is one where the rules and realities that govern it can change on a very quick basis, and because of that, the literature that’s dedicated to telling people about it needs to change, too. This was one of the basic realities understood by Shelley Giordano, founder and chair of the Funding […]
When examining the totality of negative press that reverse mortgage products have to endure, many of the most persistent reputational hurdles faced by the products arise from people viewing the products themselves in isolation as opposed to a single part of a larger retirement strategy. This is according to Dr. Wade Pfau, professor of retirement […]
Reverse mortgage originators are not typically in a position to answer tax questions from their clients, but that doesn’t mean borrowers won’t have tax questions to ask, and it can help for originators to know where to point borrowers for the information they will need should those questions arise. While the following information could be […]
The Home Equity Conversion Mortgage (HECM) for Purchase program was initially designed in such a way so that a previously more complicated process involving two mortgage transactions could be simplified, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services, in a new piece at Forbes. “The government saw […]
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