Australia’s Reverse Mortgage Marketplace Continues to Grow

While growth of the reverse mortgage industry in Australia slowed compared to previous years, the marketplace still saw an increase of 13 percent according to a study commissioned by the Senior Australians Equity Release Association of Lenders. Conducted by Deloitte Actuaries and Consultants, the study shows there were 38,048 loans on issue at the end […]

More Governments Warming Up to Reverse Mortgages

Despite the fact that reverse mortgages have failed to take off in places like India, it isn’t stopping other countries from looking at the product.  Taiwan is considering offering a government plan to aid seniors by allowing them to convert their home equity into cash after the chairwoman of the Bank of Taiwant (BOT) offered […]

RBS Looking to Package Reverse Mortgage Products

Reverse mortgage lending in the United States isn’t the only country getting special attention from consumer groups.  Martin Lynch, head of reverse mortgages, RBS Reverse Mortgages in Australia told Lending Central that consumer advocacy group CHOICE is still not a fan of reverse mortgage products. CHOICE is the largest consumer organization in Australia, which aim […]

Reverse Mortgages Fail to Take Off In India

There has been lots of talk about reverse mortgages in different parts of the world and many people had high hopes for the product in India.  However, the Economic Times writes that senior bank officials say the product has failed to take off the way people had hoped.  A senior bank official, who did not […]

Australian Reverse Mortgage Certification Program Extended to Financial Planners

The Senior Australians Equity Release Association of Lenders (SEQUAL) expects to  see about 1400 financial planners qualify as reverse mortgage specialists under its FPA training program by mid 2010.  The association launched its training program in August last year and according to Investor Daily the Financial Planning Association is committed to rolling the program out […]

France & Italy Find Need For “Reverse Mortgage” Type of Product

A couple months ago, the Wall Street Journal published A French Revival of Home-Equity Deals which details how seniors in European countries like France and Italy are turning to transactions that allow older homeowners to receive cash by selling their property yet still being able to live in their home.  As an example, the WSJ […]

Largest Canadian Provider of Reverse Mortgages Plans To Become A Bank

Home Equity Income Trust provided additional information regarding its announcement that it intends to apply to the Minister of Finance for its operating subsidiary, Canadian Home Income Plan Corporation ("CHIP"), to continue as a federally regulated Schedule I bank. CHIP currently operates as a financial services company exclusively dedicated to reverse mortgages.  By becoming a […]

Korea’s Banking Regulator Looks To Expand Reverse Mortgages

The Korea Times recently reported that Korea’s Financial Services Commission (FSC) is considering expanding reverse mortgages to ensure its seniors are able to live stable lives after retirement. According to the article, it’s the regulator is looking at easing conditions for reverse mortgages, which are currently available to those aged 65 or older with a […]