FAR Enters Into Total Expert Partnership, Launches New Wholesale Portal

Finance of America Reverse (FAR) announced Thursday that it is entering into a new, exclusive partnership with widespread mortgage marketing platform Total Expert to provide third-party originators access to a dedicated platform aimed at improving originators’ reverse mortgage marketing expertise. The company is also launching Xcelerate, a new online portal of educational resources and sales […]

AAG Details Updates to Private Reverse Mortgage Use Trends

In early 2019, American Advisors Group (AAG) revealed some surprising statistics related to the ways in which its proprietary reverse mortgage offering – AAG Advantage – was being employed by borrowers. Now, the company has shared updates to the ways its non-FHA offering is primarily being leveraged by a more recent class of borrowers. This […]

President Trump to Nominate Dana Wade as Federal Housing Commissioner

President Trump today announced that he intends to nominate Dana Wade as Assistant Secretary for Housing, Federal Housing Commissioner. Brian Montgomery, who currently holds the position, is awaiting Senate confirmation for a role as deputy secretary of the Department of Housing and Urban Development, after his nomination was recently confirmed by the Senate Banking Committee. […]

Habitat for Humanity Extends to Aging in Place Assistance in Georgia

A grant program for seniors in the Columbus, Ga. area gives older residents a new avenue to explore for receiving critical repairs and upgrades to their homes in order to age in place, provided by long standing non-profit housing advocacy organization Habitat for Humanity. The program, called “Continuing Hope,” allows senior homeowners with adequate insurance […]

Why HECM Data Does Not Tell Full Reverse Mortgage Story

When looking specifically at year-over-year trends in Home Equity Conversion Mortgage (HECM) endorsements, the raw numbers do not paint a particularly positive picture on their own. However, there are other factors at play which make the end of 2019 perhaps more positive than some industry observers might believe when looking simply at the raw data, […]

CFPB Clarifies ‘Abusiveness’ Standard After Years of Lender Uncertainty

Initially introduced under the Dodd-Frank Act nearly 10 years ago, the Consumer Financial Protection Bureau has finally clarified its long held and often confusing “abusiveness” standard, used in its supervision and enforcement capacity. The standard, which essentially allows the Bureau to take action against organizations deemed to be participating “abusive” acts or practices with respect […]

Blue Ridge Bank N.A. Hiring for Major Reverse Mortgage Expansion [Sponsored]

For prospective borrowers shopping for reverse mortgages, the positive impact of a good reputation simply cannot be overstated. It’s exactly that fact that encouraged Virginia-based Blue Ridge Bank N.A. to enter the reverse mortgage business, and is leading it now to focus on growth of the division both in terms of new hires, and loan […]

New York Governor Vetoes Reverse Mortgage Co-op Bill

A bill that was passed in both houses of the New York State Assembly which would have authorized reverse mortgage cooperative apartment unit loans for the state’s senior population, while also providing additional consumer protections, was vetoed by the state’s governor shortly before the start of the holidays. New York State Senate Bill S03686, which […]

Former HUD Secretary Drops Out of Presidential Race, Endorses Warren

Former Secretary of the Department of Housing and Urban Development (HUD) Julián Castro has ended his bid for the Democratic Party’s nomination for President of the United States in the 2020 general election, and in a matter of days has made an endorsement in the race for one of his former opponents. “I’ve determined that […]