The reverse mortgage industry is making another effort to assist in developing legislation which would allow reverse mortgage loans on co-ops, after a veto from Governor Andrew Cuomo derailed a previous effort at the end of 2019.
HUD has revised various servicing policies in the FHA Single Family Housing Policy Handbook 4000.1, which includes application to reverse mortgages under the Home Equity Conversion Mortgage (HECM) program.
ReverseVision has announced that it has chosen Amazon Web Services as its preferred cloud technology provider, due to its scalability and platform performance.
The NRMLA/RiskSpan Reverse Mortgage Market Index shows another impressive quarterly increase, as well as positive year-over-year data.
Steven Sless and Christina Harmes Hika of PRMI discuss the intricacies of changing companies in the reverse mortgage business, and some of the challenges in training forward originators to do reverse business.
Highlighting many different ways a retiree can convert their home equity into cash, Kiplinger tackles the topic of reverse mortgages for retirees.
Some of the things keeping reverse mortgage participation low could include too much debt among seniors, and the lack of varying loan options like the HECM Saver according to an article at MarketWatch.
Both the wholesale and retail segments of the reverse mortgage business saw increases in January 2021, though the way was led by wholesale according to data from Reverse Market Insight.
Preparing for retirement can extend to tapping home equity, and making alterations to the property among other things, according to finance columnist Liz Weston.
FHA has handed down long-awaited guidance to the reverse mortgage industry, moving away from the LIBOR index and adopting the industry-preferred SOFR index.