FPA Chair: Reverse Mortgage Refinements Make Products Easier to Recommend

The evolution of the reverse mortgage product space has been a constant reality that the surrounding industry has had to contend with for many years, but having gone through such demonstrable and customer-focused periods of change is exactly what has made reverse mortgages more appealing for financial planner professionals. This is according to Evelyn M. […]

Nationwide Equities Brings EquityPower Jumbo Reverse Mortgage to New York

Nationwide Equities has announced the availability of its proprietary EquityPower reverse mortgage in the state of New York. The product was approved by the state’s Department of Financial Services this week, following Nationwide Equities’ application for approval many months ago. “Now we are the second lender in the state to offer a private reverse mortgage,” […]

Unfrozen LIBOR SWAP Rate Creates Opportunities for Reverse Mortgage Lenders, Borrowers

Last week, the Intercontinental Exchange (ICE) Benchmark Administration published a new 10-year London Interbank Offered Rate (LIBOR) SWAP rate for the first time since February 27, which came in this week at an estimated 45% lower than the previously-published rate. This presents a new opportunity for reverse mortgage borrowers to get a higher level of […]

Changemakers: Reza Jahangiri, CEO, American Advisors Group

For anyone who follows the reverse mortgage industry, it’s almost impossible to avoid the name and brand of American Advisors Group (AAG). The company currently stands as the undisputed leader of the reverse mortgage industry, with the largest market share and arguably the most visible branding in the public consciousness owing to its significant investment […]

CFPB: Seniors Face Serious Spending Challenges in First 5 Years of Retirement

In the first five years of retirement, American seniors are likely to face significant financial challenges in making ends meet. According to a survey of Americans who retired between 1992 and 2014 conducted by the Consumer Financial Protection Bureau (CFPB), over half (51%) had income, savings or other non-housing assets allowed them to maintain the […]

Origins: Using Reverse Mortgages to Do the Right Thing for Seniors

Reverse mortgage originators often find themselves in very difficult circumstances depending on the reason that clients reach out to them for help in the first place. Sometimes it’s for a more affluent person to get access to a product that can strategically help their portfolios, while other times it’s to try and make sure a […]

NerdWallet: Reverse Mortgages Can Be ‘Relief Valve’ for Bear Markets

Reverse mortgages aren’t cheap for seniors and should be avoided particularly for short-term needs, but recent research has identified an effective use of the product concept for those who have investments during volatile periods of market activity. This is according to Liz Weston, a certified financial planner and finance expert at NerdWallet. “Stay-at-home orders may […]

Study: Workers Less Confident About Retirement Prospects Due to Pandemic

23% of workers who are either employed or recently unemployed express that their confidence in retiring comfortably has declined due to the economic effects of the COVID-19 coronavirus pandemic. This is according to “Retirement Security Amid COVID-19: The Outlook of Three Generations,” a report released by the nonprofit Transamerica Center for Retirement Studies (TCRS). “Workers […]