FHA has announced a series of new protections for eligible non-borrowing spouses of Home Equity Conversion Mortgage (HECM) reverse mortgage borrowers, amending the criteria for eligibility and removing a requirement to obtain marketable title.
Boston College’s Center for Retirement Research takes a closer look at the relationship between rising home equity levels for homeowners age 62+, and the distance between those levels and reverse mortgage volume.
A political professional gives the reverse mortgage industry an overview of how the political realities are playing out in Washington, D.C., describing an environment of competing crises and lack of housing appointees as taking up much of the political bandwidth available for other issues.
Former Deputy HUD Secretary Brian D. Montgomery has helped to found a new housing policy consultancy firm with other former government housing staffers, with expertise in matters including financial services, forward and reverse mortgage lending/servicing, community development, and public housing sectors
April 2021 proved to be a generally strong month for the reverse mortgage business, in spite of a very slight reduction in HECM volume. Still, one analyst cautions against excessive refinances on newly-originated HECMs.
Former Director of the Consumer Financial Protection Bureau (CFPB) Richard Cordray has found a new job in the Biden administration, this time at the Department of Education.
Principal Deputy Assistant Secretary (PDAS) for the Office of Housing and the FHA Lopa P. Kolluri detailed that FHA is currently examining ways in which previous reverse mortgage policy guidance could be consolidated into the Single Family Handbook.
Some seniors are finding a transition to digital services troublesome, exemplified by a story from the state of Colorado in which a preschool teacher has had to add 10 hours to a social worker’s week to learn how to properly use a new unemployment system.
When determining how best to make the transition into retirement, sometimes downsizing can be avoided by considering “outside-the-box” alternatives including a reverse mortgage.
Former Live Well Financial CEO Michael Hild has been found guilty on all counts in a trial over an alleged bond fraud scheme taking place in Manhattan, with sentencing to take place at a future date. The story has been updated with statements from the U.S. Department of Justice.