Following months of signals, American Advisors Group late last week announced a major shift in the direction of the company, which will see it transform from the nation’s leading reverse mortgage lender to a more holistic retirement solutions provider. Reza Jahangiri, the chief executive officer of AAG, said the company rolled out the “What’s Your […]

As the U.S. reverse mortgage market struggles to adapt to lower principal limits, demand north of the border is surging — and Canada’s top reverse mortgage lender has embarked on a new marketing push to expand even further. The new TV spots from HomeEquity Bank emphasize homeowners’ desire to stay put even as they age. […]

The preference for baby boomers to age in place has been blamed in part for lower homeownership rates among millennials, who have been forced to compete for a smaller slice of available properties on the market. But now experts warn that even just a slight change in older homeowners’ attitudes could lead to a mass […]

In a landscape fraught with declining origination figures and new rules, reverse mortgage lenders have more than a few suggestions for improving the product central to their business. Many would start with at least some reversal of the program changes from the Department of Housing and Urban Development, which last fall inaugurated an overall reduction […]

Consumer Financial Protection Bureau acting director Mick Mulvaney on Wednesday named the first leader for the department’s newly formed Office of Innovation. Paul Watkins, formerly in charge of financial technology initiatives for the attorney general of Arizona’s office, will take the helm of the innovation office, announced as part of a larger restructuring of the […]

Mutual of Omaha Bank on Monday completed its purchase of Synergy One Lending, Inc., cementing its entrance into the reverse mortgage marketplace. The two parties received regulatory approval from the Office of the Comptroller of the Currency earlier this month, Mutual of Omaha Bank said Tuesday, with the transaction formally closing on July 16. The […]

The CEO of Champion Mortgage’s parent company described the reverse mortgage servicing and sub-servicing market as a “smaller pond” compared to other aspects of its business, pointing to cratering origination numbers in the Home Equity Conversion Mortgage marketplace. “It’s just such a smaller pond, right?” Nationstar Mortgage Holdings (NYSE: NSM) CEO Jay Bray said on […]