In outlining a series of possible strategies that could allow homeowners to benefit from rising home prices without actually selling their property, home equity tapping is listed as a distinct possibility – with caveats – in a piece at Consumer Reports written by Tobie Stanger. “If your home equity has gone up, you might qualify […]
Proposed changes to health insurance plans used by millions of Americans could have some bearing on the future of the reverse mortgage marketplace, should those changes take effect in 2020. The Centers for Medicare and Medicaid Services (CMS) announced last week that private Medicare Advantage (MA) plans will expand the scope of their coverage starting […]
Sure, everything is bigger in Texas. But is the state on track to becoming the largest reverse mortgage market in the country? Absolutely, says Scott Norman, vice president of field retail and government relations at Finance of America Reverse, LLC, in Austin. He predicts that Texas will lead the industry by 2030. Regional Stats: Total […]
Applications and lending amounts for reverse mortgage programs are growing in Taiwan, signaling increasing demand and popularity for the country’s population of older homeowners. “The number of applications to 13 local banks reached 3,186 as of the end of last month, a 38 percent increase from 2,309 a year earlier,” according to the Taipei Times, […]
Prominent financial planner Jill Schlesinger, who has a historical track record of questioning the viability of reverse mortgage products, has highlighted what she views as their deficiencies in a new radio appearance promoting her new book. However, reverse mortgage expert John Lunde, president of Reverse Market Insight (RMI), finds flaws in the reasoning behind some […]
Palo Alto, Calif.-based Point, a shared equity reverse mortgage alternative that gives homeowners the ability to sell a small fraction of their equity, has raised $22 million in series B investment funding, and an additional $100 million in platform capital. This brings total equity investment in the product to $33 million, and total platform capital […]
Two high-profile software creators in the reverse mortgage space have announced a partnership in the aim of streamlining the hand-off between reverse mortgage loan origination and servicing. Bay Docs, LLC and Reverse Technology Group (RTG) will be integrating the technology platforms of both companies in order to make the transition between origination and servicing more […]
Increasing popularity for reverse mortgages in Australia has the potential to allow more retirees to adequately fund their post-working lives, but some potential borrowers are being blocked from pursuing reverse mortgage solutions in the country as banks are exiting the space. A 6.5 percent increase in New Zealand-based Heartland Bank’s recorded profits was bolstered by […]
Looking out for new opportunities in the wake of reduced reverse mortgage volume can lead lenders into spaces that are not often considered. While some companies are expanding their operations into forward lending, others are taking that expansion attitude one step further by dipping their proverbial toes into the waters of non-qualified mortgage (non-QM) lending. […]
As proprietary products gain appeal among prospective reverse mortgage borrowers, some companies are confronted with a new conundrum: prospects who qualify for both jumbo and Home Equity Conversion Mortgage (HECM) options. “California has a lot of borrowers with homes valued between $700,000 to $800,000,” says Christina Harmes, assistant manager of the C2 Reverse division of […]
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