American Advisors Group (AAG) announced on Monday the rollout of a new television commercial featuring spokesman Tom Selleck, crafted on the heels of a survey the company spearheaded in which respondents shared an overwhelming desire to age in place. The ad, titled “American Dream,” emphasizes the desire that many seniors have to remain in their […]
As more seniors continue to try and find new ways to make financial ends meet during the ongoing COVID-19 coronavirus pandemic, some may naturally turn to new types of products or services for them, which can include reverse mortgages. Nevertheless, some seniors still remain apprehensive about the product category, which has spurred online personal finance […]
Home Equity Conversion Mortgage (HECM) endorsements remained relatively stable at recently-high levels in September of 2020, recording a drop of only 1.75% to 3,937 loans. This marks the first time since May that HECM volume fell below 4,000 loans, but still remains well above numbers observed between January and April of this year according to […]
Homeowners aged 62 and older saw their collective housing wealth increase in Q2 2020 by 1.8% compared to the previous quarter. This constitutes an increase of approximately $134 billion to a record of $7.70 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]
Finance of America Reverse (FAR) announced on Thursday that it has entered into an educational program with Stanford University research arm the Stanford Center on Longevity (SCL), an organization designed to foster thinking and action on issues related to longer life by pooling the resources of academic, business, government and nonprofit leaders. FAR has joined […]
Regulatory enforcement actions made by the Consumer Financial Protection Bureau (CFPB) have risen to their highest level in five years, to levels not seen since the Bureau was under the control of Director Richard Cordray during the Barack Obama Administration. This is according to an analysis of the CFPB Online Enforcement Database at Law360. While […]
Insurance services provider Mutual of Omaha has expanded the scope of its needs analysis software, Navigator, to encompass a client’s housing wealth situation into their individual profile. This is a move which will allow financial advisors to get a fuller understanding of a client’s situation by including housing wealth in their advisor/client conversations, something which […]
For seniors who may feel squeezed by the necessity of paying taxes in retirement on a fixed income, there are a number of ways in which a senior might be able to reduce their tax burdens in retirement. One of the possible methods can include a reverse mortgage, according to financial planner Erik Carter in […]
Finance of America Equity Capital LLC, a portfolio company of Blackstone Group, Inc. and parent company to leading reverse mortgage lender Finance of America Reverse (FAR), is set to make an initial public offering (IPO) with a valuation of $1.9 billion, upon a merger with a special-purpose acquisition company (SPAC). The news was first reported […]
For a senior looking for additional cash flow in retirement, a reverse mortgage can help to provide a solution as long as the potential borrower’s situation is a good fit for the use of the product. Still, as some seniors are branching out during the COVID-19 pandemic to try and entertain other potential options, some […]
