Last November, Figure Technologies announced the availability of a new sale leaseback offering as an alternative method of home equity tapping when compared to a reverse mortgage. It also makes plain that it seeks to compete with reverse mortgage offerings, since navigating to the product’s dedicated page on Figure’s website immediately greets visitors with a […]
Retirees will continue to face financial difficulties over the course of 2019, stemming from perennial problems like pensions, personal finances, social security benefits and even leftover debt from student loans. This is according to a column at MarketWatch examining the current state of the financial landscape for retirees, and accompanying data from the Federal Reserve […]
The partial shutdown of the United States federal government that is currently in effect has become the longest one in history, ending its 31st consecutive day on Monday and having widespread ramifications for over 800,000 federal workers and dozens of federal agencies. While direct ramifications to the production of reverse mortgage business have been minimal […]
Prospective reverse mortgage borrowers looking to determine if the product is right for them can find a series of new pieces offering information on the upfront costs (origination fee, mortgage insurance premium and closing costs), ongoing costs related to the accrual of interest, spending options for a variable-rate Home Equity Conversion Mortgage (HECM) and details […]
Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), elected not to make an approximately $9 million cash interest payment to its creditors that was due on December 17, 2018. With Thursday marking the end of a 30-day grace period related to that payment, that decision has put the beleaguered corporation at […]
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for starting off our new year of coverage excellently over the past couple of weeks! As a reminder, RMD’s Chicago headquarters will be closed on Monday, January 21 in observance of Martin Luther King Jr. Day. Our normal posting schedule and daily email […]
The number one reason that a senior would choose to partake in a proprietary jumbo reverse mortgage is to fund repairs or modifications on their home, followed by other reasons like the purchase of an investment property, assist in a child’s property purchase or provide them with early inheritance, and to establish college funds for […]
Financial planner, retirement income specialist and professor Jamie Hopkins has joined financial management company Carson Group as vice president of private client services and director of retirement research, as of January 1. Hopkins, a noted advocate for financial education in the retirement income space and prominent voice in the reverse mortgage community, will maintain his […]
When asked directly if they would choose to live where they currently reside in retirement if given the option to choose again, nearly a third of respondents said “no” in a survey conducted primarily with people aged in their 70’s or above. The survey, created by Age Friendly Ventures, was conducted online in December 2018, […]
The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they […]
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