RMF Releases Two Social Security Guides for Consumers, Financial Pros

Reverse Mortgage Funding, LLC (RMF) has announced the availability of two new, digital Social Security guides for 2020. One is designed to help consumers maximize retirement benefits, while the second aims to support planning professionals in better serving the long-term financial goals of their clients. The guides cover a number of different topics related to […]

[Updated] FAR Brings HomeSafe to New States, Rolls Out Product Changes

Finance of America Reverse (FAR) announced on Thursday a slew of occurrences related to its “HomeSafe” proprietary reverse mortgage product catalog, including new availability of HomeSafe Select in Hawaii and Texas, two additional options in the state of Colorado, and refinements to one product variation in the state of Florida. The expansion of the general […]

Reverse Mortgages Surge by Double Digits in Taiwan

Reverse mortgages have grown more popular in the nation of Taiwan during 2019, with the number of approved loans and total lending figures having increased by double-digit percentage points from a year earlier. This is according to data from the Taiwan Financial Supervisory Commission, and as reported by the Taipei Times. “The cumulative number of […]

Study: Senior Homeowners Largely Stable Enough to Tap Home Equity

A new research working paper released by the Boston College Center for Retirement Research reveals not only that the majority of seniors’ preferences is to remain in their homes as they age, but that a majority of homeowners experience enough residential stability to tap home equity through either reverse mortgages or property tax deferrals. As […]

Why HECM Data Does Not Tell Full Reverse Mortgage Story

When looking specifically at year-over-year trends in Home Equity Conversion Mortgage (HECM) endorsements, the raw numbers do not paint a particularly positive picture on their own. However, there are other factors at play which make the end of 2019 perhaps more positive than some industry observers might believe when looking simply at the raw data, […]

CFPB Clarifies ‘Abusiveness’ Standard After Years of Lender Uncertainty

Initially introduced under the Dodd-Frank Act nearly 10 years ago, the Consumer Financial Protection Bureau has finally clarified its long held and often confusing “abusiveness” standard, used in its supervision and enforcement capacity. The standard, which essentially allows the Bureau to take action against organizations deemed to be participating “abusive” acts or practices with respect […]

Origins: From Funeral Director to Reverse Mortgage Originator

You’ve likely seen him at industry events talking about how much he loves sales, and perhaps you’ve even been lucky enough to hand him a business card and get a $100 bill in return. Norcom Mortgage SVP of Reverse Lending John Luddy is a memorable personality to any reverse mortgage professional he comes into contact […]

Forbes: Reverse Mortgages Can Help Pay for Long-Term Care

Because there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare […]

Open Mortgage CEO on Growth Efforts, Company Culture

A clearly-defined company culture, new technology adoption and a core footprint expansion are among the cornerstones that have turned Open Mortgage into a notable reverse mortgage lender in recent years. These are just a few of the topics discussed by Open Mortgage CEO Scott Gordon in the latest episode of The RMD Podcast, available now. […]