A federal judge in Massachusetts this week ruled that bad advice from a banker doesn’t prevent a non-borrower from facing foreclosure after the death of a reverse mortgage holder. Back in 2009, a Bank of America employee told John Consolo that if his mother took out a reverse mortgage on her Boston home, he could continue […]

American Advisors Group (AAG) this week announced the hiring of industry sales veteran and former Bank of America (NYSE: BAC) executive, Jesse Q. Allen, to serve as the company’s Senior Vice President of National Field Sales. In this new role, Allen will assist AAG in growing its “feet on the street” reverse mortgage business, the […]

Total HREMIC issuance topped $9.5 billion in 2015, easily shattering the previous full-year record of $6 billion in 2012, according to the latest commentary from New View Advisors. Even before 2015 concluded, HREMIC issuance was already trending well-ahead of the previous year’s $5 billion total, reaching $6.5 billion through the first nine months of the year.

Editor’s note: Reverse Mortgage Daily will be observing the Labor Day holiday Monday, September 7, but we will return to our normal posting schedule Tuesday, September 8. In the meantime, all of us here at RMD would like to wish all of our readers a safe and enjoyable Labor Day weekend! In case you missed […]

Reverse Focus Weekly Podcast Episode #373 Will large banks like MetLife (NYSE: MET), Wells Fargo (NYSE: WFC) and Bank of America (NYSE: BAC) return to reverse mortgage lending? Shannon Hicks weighs this question in this week’s Reverse Focus podcast.

At $4.27 billion for the first six months of 2015, HREMIC issuance is already at 85% of 2014’s full-year issuance of $5.05 billion, and is expected to surpass 2012’s record $6 billion of issuance, according to the latest Ginnie Mae data compiled by New View Advisors.  Fifteen transactions underwritten by three sponsors — Nomura, Bank […]

Overall banking satisfaction among small businesses bounced back in the last year, with large and midsize banks showing the strongest improvements, according to the J.D. Power 2014 U.S. Small Business Banking Satisfaction Study.   Now in its ninth year, the study measures small business customer satisfaction with the overall banking experience by examining eight factors such […]