Reverse mortgages may be getting a positive reception in press outlets and the financial planning community, but there are still some myths and questions that remain among prospective borrowers. A webinar panel hosted by the National Reverse Mortgage Lenders Association and Next Avenue — an information outlet for individuals 55 and over — aimed to […]

Connecticut lawmakers this week advanced a bill that would introduce new requirements for reverse mortgage lenders in the state. The state senate on Tuesday unanimously passed S.B. 150, which would prevent lenders from accepting applications for Home Equity Conversion Mortgages unless they clearly explained the pre-loan counseling requirements, provided a list of Department of Housing […]

Credit unions nationwide will now be able to refer their members to The Federal Savings Bank for their Home Equity Conversion Mortgage needs through a new partnership established this week. The bank is among the largest privately held federally chartered banks in the U.S. and has a defined focus on residential home lending, which led […]

Reverse Mortgage origination platform ReverseVision today announced it has completed an integration with title and settlement services provider Allegiant Reverse Services, based in Roseville, Calif., which conducts Home Equity Conversion Mortgage closing services. Through the integration of ARS’s Order Source order management system and ReverseVision’s RV Exchange, ARS settlement agents can place title orders and […]

Recently, a LinkedIn post relayed a story about a financial advisor who was fined by his company’s compliance department for recommending a reverse mortgage. Although he wasn’t named in the post, the story was about Zack Alkhamis, a financial advisor with Retirement Wealth Management Group, who has been helping clients manage their finances for 28 […]

Sen. Tammy Duckworth last week announced a “blanket hold” on all Department of Housing and Urban Development nominees in objection to Ben Carson’s handling of public housing facilities in her home state of Illinois. Duckworth and her fellow Illinois Sen. Dick Durbin — both Democrats — earlier this month wrote a letter to Carson about […]

The post-October 2 hangover is here. Originators of Home Equity Conversion Mortgages — including both Federal Housing Administration-approved lenders and their non-approved counterparts — suffered a decline of 17.6% in February, according to the most recent set of numbers from Reverse Market Insight. That’s a major shift from January, which saw the effects of the […]