More than Half of Americans Support Adult Children, Derailing Retirement

Parents with adult children are often closely linked in terms of finances, and the depth of those connections can sometimes threaten the retirement plans of the parents. This is according to new research released by home co-investing company Unison, announced on Thursday. According to the results of a survey conducted in August 2019, 92% of […]

Starwood Capital Affiliate to Acquire Reverse Mortgage Funding Parent

Reverse Mortgage Investment Trust (RMIT), the parent company of Reverse Mortgage Funding, LLC (RMF) has announced that it has agreed to be acquired by an affiliate of Starwood Capital Group, a global private investment firm which is focused on real estate investments, and which maintains more than $60 billion of assets under management. Terms of […]

Reverse Mortgage Lending Limit to Rise in 2020

The lending limit for federally-backed reverse mortgages is increasing for the fourth consecutive year in a row and is set to rise to $765,600 in 2020. The Department of Housing and Urban Development (HUD) announced on Friday via Mortgagee Letter 2019-20 a maximum claim amount of $765,600 for calendar year 2020, up from $726,525 in […]

Industry Meeting Signals ‘Exciting’ Time for Reverse Mortgages

The National Reverse Mortgage Lenders Association (NRMLA) is encouraged after a productive Annual Meeting last month in Nashville, Tenn., owing to a well-received programming schedule and enthusiasm among attendees for the event’s venue city. This is according to NRMLA’s recently-promoted President, Steve Irwin, in an interview with RMD. “Overall, the response to our recent annual […]

RMD Report: Low Rates, Private Products Boost 2019, Say Industry Leaders

The reverse mortgage market, comprising both traditional Home Equity Conversion Mortgages (HECMs) and proprietary loans, has been through a turbulent year in 2019. While year-over-year volume has shown a decline in the number of HECM originations when comparing the fiscal year data of 2018 and 2019, a number of other more positive developments have occurred. […]

Supreme Court to Decide Constitutionality of CFPB in 2020

The United States Supreme Court (USSC) will hear oral arguments in a case seeking to define the leadership structure of the Consumer Financial Protection Bureau (CFPB) as unconstitutional in March 2020, according to a calendar schedule of oral arguments released by the Court. The case, Seila Law LLC v. Consumer Financial Protection Bureau, asks the […]

An Update on Reverse Mortgage Second Appraisals

Second appraisals on Home Equity Conversion Mortgage (HECM) transactions under the recently-extended collateral risk assessment (CRA) rule are largely unchanged from figures shared earlier in the year, though have appeared to tick slightly downward. This is according to data from a valuation professional and the National Reverse Mortgage Lenders Association (NRMLA). “The latest data indicates […]

FHFA Increases Conforming Loan Limits for Fannie, Freddie in 2020

The Federal Housing Finance Agency (FHFA) announced on Tuesday that it would be increasing the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for the fourth consecutive year. In most of the United States, the maximum conforming loan limit for one-unit properties in 2020 will be $510,400, an increase […]

Programming Note: Happy Thanksgiving from RMD

Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for your continued support! As a reminder, RMD’s Chicago headquarters will be closed on Thursday, November 28 and Friday, November 29 in observance of the Thanksgiving holiday. Our normal posting schedule and daily email will resume on the morning of Monday, December 2. […]

Forbes: What Seniors Should Know Before Getting a Reverse Mortgage

Potential borrowers of reverse mortgages, whether they are Home Equity Conversion Mortgages (HECMs) or a proprietary, non-government product, should be aware of key features before engaging in a loan. These include borrower obligations related to taxes and homeowners insurance, as well as the ways in which reverse mortgage products have undergone significant changes in recent […]