Older American homeowners have a greater degree of financial well-being than those who do not own a home, while lower housing costs are also correlated to more positive financial well-being. This is according to a survey titled “Financial Well-being of Older Americans,” released by the Consumer Financial Protection Bureau (CFPB) Office of Financial Protection for […]

Last month, American Advisors Group (AAG) announced the company was adding government-backed Veterans Affairs (VA) loans to its lineup of product offerings, differentiating its offering from the standard VA loan by focusing marketing efforts more specifically on the needs of older veterans. The company says it has staked a unique position in the larger market […]

Finance of America Reverse (FAR) will be transitioning to private label servicing for its proprietary HomeSafe reverse mortgage product, as well as conducting direct outreach to its borrowers on matters of account statements and communications. “We are private-labeling so that we can have a more direct connection with our borrowers,” said FAR president Kristen Sieffert […]

Total equity on mortgaged properties currently stands at $9.8 trillion, $5.9 trillion of which is tappable. This indicates a drop of $140 billion in the third quarter of 2018, while also illustrating that 272,000 fewer homeowners have tappable home equity available in Q3 when compared with Q2. This is according to a new study released […]

After her confirmation last week in the United States Senate, Kathleen L. Kraninger was sworn in as the new, full-time director of the Consumer Financial Protection Bureau (CFPB) on Monday afternoon. She made her “media debut” on Tuesday, answering questions from the press on her first full day on the job. Meanwhile, California Congresswoman Maxine […]

Live Well Financial has sold the majority of its Home Equity Conversion Mortgage-backed securities (HMBS) issuance portfolio – $4 billion worth – to Reverse Mortgage Funding, LLC (RMF), according to GNMA data cited by New View Advisors in recent commentary. The acquisition places RMF as the owner of the largest HMBS issuance portfolio industry-wide, New […]

Bridging two industries that have a shared interest in the ability of senior individuals to age in place, reverse mortgage stakeholders presented a webinar discussion last week to an audience of in-home care professionals. Largely focused on presenting the benefits of reverse mortgages for home care recipients, the panel also dispelled common myths around the […]