The Department of Housing and Urban Development’s (HUD) annual budget proposal for fiscal year 2020, released this week by the Trump Administration, shows positivity in the agency’s reverse mortgage book of business. The FY 2020 Budget appendix scored the Home Equity Conversion Mortgage (HECM) program with a negative credit subsidy equal to -.08 percent, which […]
Prominent financial planner Jill Schlesinger, who has a historical track record of questioning the viability of reverse mortgage products, has highlighted what she views as their deficiencies in a new radio appearance promoting her new book. However, reverse mortgage expert John Lunde, president of Reverse Market Insight (RMI), finds flaws in the reasoning behind some […]
The largest reverse mortgage lender by volume and the Better Business Bureau (BBB) have expanded their partnership in an effort to combat senior-focused fraud nationwide. Through the partnership, launched last year by American Advisors Group (AAG) and the BBB, the organizations have created the “Savvy Seniors Program,” a senior-focused fraud prevention program that will host […]
The Consumer Financial Protection Bureau (CFPB) announced Thursday that it will be “enhancing” its charters concerning advisory committees, which provide information to the bureau on a number of different business sectors that the agency oversees. “I’ve seen first-hand how the Bureau benefits from the valuable input provided by committee members. I have also seen how […]
Facebook on Tuesday announced sweeping changes to its advertising policies that will likely cause a shift in the way mortgage marketers use the platform to reach prospective borrowers—reverse mortgage lenders included. By limiting the demographic filters that marketers can use to target Facebook users in certain product categories, the social media giant will change the […]
Palo Alto, Calif.-based Point, a shared equity reverse mortgage alternative that gives homeowners the ability to sell a small fraction of their equity, has raised $22 million in series B investment funding, and an additional $100 million in platform capital. This brings total equity investment in the product to $33 million, and total platform capital […]
Reverse mortgage originators are on the front lines of the industry every day pursuing leads, talking to potential borrowers and directly dealing with any changes that may affect the ways that reverse mortgage products work. RMD is proud to introduce the new regular feature “Origins,” question-and-answer sessions with originators to learn about what led them […]
Two high-profile software creators in the reverse mortgage space have announced a partnership in the aim of streamlining the hand-off between reverse mortgage loan origination and servicing. Bay Docs, LLC and Reverse Technology Group (RTG) will be integrating the technology platforms of both companies in order to make the transition between origination and servicing more […]
Two men from the state of New Jersey have been arraigned in the U.S. District Court of New Jersey for their alleged respective roles in defrauding several senior homeowners in a scheme related to the use of a reverse mortgage, according to an announcement made Monday by U.S. Attorney Craig Carpenito and a subsequent press […]
Increasing popularity for reverse mortgages in Australia has the potential to allow more retirees to adequately fund their post-working lives, but some potential borrowers are being blocked from pursuing reverse mortgage solutions in the country as banks are exiting the space. A 6.5 percent increase in New Zealand-based Heartland Bank’s recorded profits was bolstered by […]
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