HECM Endorsements Halted During Partial Government Shutdown

Home Equity Conversion Mortgage insurance endorsements are being halted as a result of the partial U.S. government shutdown that began on Saturday, according to a notice sent by the Federal Housing Administration (FHA) on Wednesday morning. Due to a lapse in appropriations, the shutdown entered its fifth day on Wednesday. Until further notice, the FHA […]

Programming Note: RMD Holiday Schedule

With only days remaining until Christmas, the team here at Reverse Mortgage Daily wants to express warm wishes and happy holidays to all of our valued readers. In observance of Christmas and New Year’s Day, RMD’s Chicago headquarters will be closed from Monday, December 24 to Tuesday, January 1, with our normal posting schedule and […]

Report: Race, Ethnicity Have Bearing on Retirement Security

The earnings and wealth disparities between whites and minorities in the United States is highly pronounced, and proceeds through to general retirement preparedness, according to a new research brief released by the Center for Retirement Research at Boston College. Authored by three in-house researchers at Boston College, the report details 2016 statistics which show that […]

‘Mortgage Professor’ to Launch ‘Retirement Income Stabilizer’

A forthcoming program aimed to stabilize retirees’ finances will help connect the dots for those striving to establish their post-working life’s income. The program is being established by Jack Guttentag, a.k.a. “The Mortgage Professor,” who has long been a proponent of reverse mortgage use. He identifies issues ranging from “defined contribution” 401K plans through “unmanaged […]

Top 10 Reverse Mortgage Stories of 2018

Along with new hurdles introduced to the reverse mortgage business in 2018 – like a potentially difficult rule concerning second appraisals and the prolonged FHA approval process for condominiums – there also came new opportunities. Among these are the increasing prevalence of proprietary jumbo loans, and another rise in the HECM lending limit from the […]

Aging in Place Top Preference, Community Care Gaining in Appeal

Six in 10 seniors among a random sample of National Health and Aging Trends Study participants far and away prefer to age in place at their own homes either with family or paid assistance, but three in 10 of those surveyed stated a preference to receive care in an assisted living or continuing care retirement […]