Reverse mortgage originators are not typically in a position to answer tax questions from their clients, but that doesn’t mean borrowers won’t have tax questions to ask, and it can help for originators to know where to point borrowers for the information they will need should those questions arise. While the following information could be […]
The Department of Housing and Urban Development’s (HUD) annual budget proposal for fiscal year 2020, released this week by the Trump Administration, shows positivity in the agency’s reverse mortgage book of business. The FY 2020 Budget appendix scored the Home Equity Conversion Mortgage (HECM) program with a negative credit subsidy equal to -.08 percent, which […]
As workers get older, their employment becomes increasingly difficult to maintain even in a generally prosperous economic climate. This is according to a study conducted by the Urban Institute, and recently highlighted by the Boston College Center for Retirement Research. Workers over the age of 50 have a higher likelihood of encountering an involuntary job […]
Running out of money in retirement remains a primary concern for those planning their transition out of work, with other major concerns being maintaining their lifestyle and the rising costs of healthcare expenses. This is according to the American Institute of CPAs (AICPA) and its Personal Financial Planning Trends Survey. Exhausting their money is the […]
The reverse mortgage market is no stranger to change, but recent program adjustments and market factors are leading lenders and other stakeholders to seek a “new normal.” As the industry faces the future, join the conversation with Reverse Mortgage Daily and industry leaders. This webinar panel will discuss the current operating environment for reverse mortgage […]
Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for starting off our new year of coverage excellently over the past couple of weeks! As a reminder, RMD’s Chicago headquarters will be closed on Monday, January 21 in observance of Martin Luther King Jr. Day. Our normal posting schedule and daily email […]
Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive at 30 percent. This is according to […]
At the end of the 20th day of the partial United States government shutdown, the Democratically-controlled House of Representatives passed a standalone spending bill to fund and reopen both the Department of Housing and Urban Development (HUD) and the Department of Transportation, along with a handful of other agencies. According to The Hill, the House […]
In light of the changes made to the reverse mortgage product over the past 15 months, observers and originators in the reverse mortgage business find themselves at a crossroads. Some express frustration over opportunities having been affected by rule changes implemented to principal limit factors (PLFs) in October 2017, while others express encouragement by recent […]
Although there are still issues in the general reputation of reverse mortgage product offerings, more financial advisors and planners have shown signs of warming up to the product and how it could help their clients to fund retirement. This is according to a story found in Financial Advisor (FA). Still, even with progress having been […]
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