Fox Business: What Seniors Should Know Before Taking a Reverse Mortgage

Citing a 2015 study by the Consumer Financial Protection Bureau that revealed consumers’ lack of understanding about reverse mortgage products, a new article at Fox Business written by reporter Linda Bell aims to address what potential borrowers “need to know” about taking a reverse mortgage. “While reverse mortgages can help some older homeowners meet their […]

HUD: Reverse Mortgage Volume Falls in Q1 2019

The total volume of Home Equity Conversion Mortgages (HECM) endorsements in Q1 2019 dropped by 18.19 percent from the previous quarter to $2.48 billion, while HECM endorsement counts in FY 2019 Q1 declined 17.67 percent from last quarter to 7,388 loans. This is according to the U.S. Department of Housing and Urban Development (HUD) Federal […]

RMD Report: A Reputational Update on the Reverse Mortgage Industry

It’s no secret to anyone that works within it that the reverse mortgage industry deals, on a regular basis, with reputational challenges that impede the ability of loan officers to connect with potential borrowers. While many of these difficulties have been persistent for years, recent developments up to and including greater acceptance of the product […]

FAR Hires Hultquist as VP, Organizational Development

Dan Hultquist, reverse mortgage product educator and author of “Understanding Reverse,” has been appointed Vice President of Organizational Development for Tulsa, Okla.-based Finance of America Reverse (FAR), the company announced Monday via a press release. “[Hultquist] joins the firm’s Learning and Development practice and will play a key role in the ongoing development of compelling […]

Reverse Mortgage Sales Pros Take a Positive Outlook for 2019

A panel of experienced reverse mortgage sales professionals expressed cautious optimism, an encouragement to abandon nostalgia, and belief in the promise of the ‘silver tsunami’ when asked to outline their perspectives on selling reverse mortgage products into the remainder of 2019. This was the final part of a discussion among the sales professionals that took […]

Debt Situation Grows Worse for Senior Population: Economist

Seniors are more likely to hold home-secured debt, and to hold more of it today than in years past. Their percentage of held debt held has also increased, with seniors aged 75 and up having become four times more likely to hold home-secured debt in 2016 when compared with 1989. The value of debt held […]

Facebook Hit With New HUD Lawsuit Over Housing Ads

The Department of Housing and Urban Development (HUD) has filed charges against Facebook, Inc. alleging that the social media giant has violated multiple subsections of the Fair Housing Act, indicating that Facebook has engaged in discriminatory advertising practices that could limit certain protected classes from gaining access to housing. This lawsuit comes just one week […]

Reverse Mortgage Professionals Talk Effective Sales Practices

Using a multimedia outreach strategy, illustrating a client’s goals in terms of asset preservation, and being honest in order to establish trust: these are just some of the effective strategies of experienced reverse mortgage sales professionals shared in a roundtable discussion about selling reverse mortgage products in today’s world, which took place this week at […]

FHA Updates Single Family Housing Policy Handbook

The Federal Housing Administration (FHA) published an update Wednesday to its Single Family Housing Policy (SF) Handbook, the first published update to the document since December of 2016. “With today’s update, FHA is recommitting to the industry that it will continue to maintain and enhance the SF Handbook so that it becomes a single, comprehensive […]