iReverse Home Loans Acquired by Reverse Mortgage Industry Veteran

San Diego, Calif.-based reverse mortgage broker iReverse Home Loans Corporation has been acquired by longtime mortgage producer and manager Michael A. Mazursky, according to a press release from the company distributed on Monday. Terms of the acquisition deal were not publicly disclosed. “Mr. Mazursky has a proven eighteen-year track record in the mortgage industry and […]

How the ‘Gig Economy’ Affects Modern Retirement Planning

As the modern economy continues to become centered on advancements and changes in on-demand technology and services, the transition into retirement will likely change with it. This is one of the thoughts driving an opinion piece at Financial Planning written by Archer Investment Management partner and investment advisor Nina O’Neal. In her piece titled “How […]

December HECM Endorsements Drop 31%, Marking New Low

Home Equity Conversion Mortgage (HECM) endorsements dropped again in December by 31.4 percent, representing a second consecutive new low in volume since the influential changes to principal limit factors (PLFs) instituted by the U.S. Department of Housing and Urban Development (HUD) in October 2017. “If the government shutdown didn’t get you down for year end, […]

Retirees Increasingly Prone to Late-Life Financial Difficulties

Retirees are prone to disruptive late-life financial risks as life expectancy grows, including widowhood, financial mistakes attributed to a decline in cognitive abilities and high out-of-pocket healthcare expenses. This, according to a new brief released by the Center for Retirement Research (CRR) at Boston College. While currently-available research literature indicates that these kinds of financial […]

Survey Finds Reverse Mortgage Appeal Higher Among Those Under 50

Around 15% of Americans say they would consider a reverse mortgage once eligible, according to a new survey released Thursday, with responses varying widely depending on age. Among respondents — investors between the ages of 35 and 64 who were polled by Kiplinger and digital wealth management company Personal Capital — 31% of those under […]

RMF Takes Top Spot for Reverse Mortgage Securities Issuance in 2018

Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]

Local Spotlight: Reverse Mortgages on Long Island

Home prices are on the rise on Long Island, New York. The Multiple Listing Service of Long Island reported in August that median prices increased annually by 3.8% in Nassau County to $540,000 and by 6.8% in Suffolk County to $390,000. These increases are creating an opportunity for reverse mortgage lenders, according to Tim Kennedy, […]

Reverse Mortgage Securities Issuance Falls in 2018, Rises Slightly in December

The production of new Home Equity Conversion Mortgage-backed securities (HMBS) saw an annual decline over the full year of 2018, coming in at approximately $9.6 billion compared to 2017’s $10.5 billion, though the December 2018 monthly issuance total saw a slight increase to $619 million. This is according to data from GNMA and private sources […]

Reverse Mortgage Outlook 2019: Getting Back to Basics

As the reverse mortgage industry prepares to begin the new year in earnest, the cumulation of changes to the Home Equity Conversion Mortgage (HECM) product and evolving situations for prospective borrowers will have to be addressed in 2019. To that end, RMD has been seeking insight from reverse mortgage professionals and thought leaders in order […]

Celink to Pay $4.25 Million to Settle Federal HECM Lawsuit

Compu-Link Corporation (Celink) has agreed to pay a $4.25 million civil settlement to the United States to resolve allegations made by the U.S. Justice Department relating to a False Claims Act violation related to its servicing of Home Equity Conversion Mortgage (HECM) products. This is according to a press release from the United States Attorney’s […]