11 States Join Supreme Court Challenge to CFPB’s Core Structure

A coalition of 11 state attorneys general have joined a complaint challenging the core structure of the Consumer Financial Protection Bureau (CFPB), arguing that its leadership structure is unconstitutional. This is according to a brief filed with the United States Supreme Court which was obtained by RMD. The coalition of states – Texas, Arkansas, Indiana, […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]

ReverseVision Launches New Strategy, Major Brand Refresh

Reverse mortgage technology platform ReverseVision announced Wednesday it is launching several major platform updates as part of a brand transformation and refresh that will expand product offerings and will position the company as a comprehensive service for mortgage industry players. The San Diego-based company, which has long served the reverse mortgage industry with its loan […]

FHA Extends HECM Second Appraisal Rule, Expands Non-Borrowing Spouse Protections

The Federal Housing Administration (FHA) announced Monday that it will continue its Home Equity Conversion Mortgage (HECM) collateral risk assessment requirements announced in 2018, and will relax requirements for some non-borrowing spouses to defer repayment of reverse mortgage loans. The agency relayed the changes in two separate mortgagee letters issued Monday, both being effective immediately. […]

CNBC: Average FICO Credit Score Reaches All-Time High

After reaching an all-time low of 686 in in late 2009, the average national credit score has reached 706 for the first time ever. This is according to FICO, the developer of one of the most commonly used scores, and based on original reporting by CNBC. Typically ranging from a low of 300 to a […]

Rising Senior Debt Levels are Concerning Researchers

While more seniors today are embracing more active lifestyles and generally working longer, academics conducting research into the lives of modern older Americans are also recording an increasing trend in seniors’ embrace of debt, which has both financial consequences while also raising mental health concerns. “The median total consumer debt of households headed by someone […]

The Inverted Yield Curve’s Potential Effects on Reverse Mortgages

The U.S. stock market fell sharply on Wednesday in response to an “inverted yield curve.” Historically, economists have seen this as a telltale sign that an economic recession is likely to transpire. “On Wednesday, the U.S. stock market tumbled after a reliable predictor of looming recessions flashed for the first time since the 2008 financial […]

[Webinar] Expanding Reverse Mortgage Market Opportunities with Proprietary Products

As more and more borrowers pursue proprietary reverse mortgages in addition to traditional Home Equity Conversion Mortgages, originators need to be aware of the full reverse mortgage product landscape—or face being left behind. This complimentary webinar, sponsored by Reverse Mortgage Funding LLC and developed by RMD, will explore how reverse mortgage originators can position proprietary […]

The RMD Podcast #4: Gary M. Singer, Real Estate Attorney

In the fourth episode of The RMD Podcast, we speak to a board-certified real estate attorney about the importance of referral partnerships. Gary M. Singer operates out of Fort Lauderdale, Florida, and has written on the topic of reverse mortgages in both regional and national publications. He finds a lot of value in the proposition […]