The reverse mortgage industry is making another effort to assist in developing legislation which would allow reverse mortgage loans on co-ops, after a veto from Governor Andrew Cuomo derailed a previous effort at the end of 2019.
Liberty Reverse Mortgage parent company Ocwen Financial Services reported strong results for Q1 2021, pointing out the performance of its reverse mortgage business while at the same time touting the dismissal of a case brought against it by the CFPB.
Principal Deputy Assistant Secretary (PDAS) for the Office of Housing and the FHA Lopa P. Kolluri addressed the reverse mortgage industry at the NRMLA Virtual Policy Conference this week, discussing how the HECM program aligns with the administration’s priorities while also discussing what still needs to be addressed in the program.
A new advice column from the Washington Post advises cash-strapped seniors who have written in that a reverse mortgage may be worth consideration, with some caveats.
The Consumer Financial Protection Bureau (CFPB) has issued an enforcement action against a reverse mortgage lender, taking issue with its advertising practices. This story has been updated with a statement from the lender in question.
A new research paper could shed some light on retirees’ unwillingness to tap their home equity in retirement, in spite of its ability to generate cash flow for those who need it.
The trial of former Live Well Financial CEO Michael Hild continues in Manhattan, as the government presents witnesses for the prosecution formerly involved in Live Well’s executive leadership team while Hild’s attorney aims to illustrate that his client never acted with ill intent.
HighTechLending has hired a new VP of Reverse Operations, the latest move from the top 10 reverse mortgage lender.
Carson Group director of retirement research Jamie Hopkins sits down for a new episode of The RMD Podcast, discussing the role emotions play in financial decisions and the looming crisis that can transform the reverse mortgage business in the coming years.
Jack Guttentag makes a bold recommendation regarding how reverse mortgage-funded annuities can be a major assistance for seniors who are house-rich and cash-poor.