The weather seems to have gone straight from winter to summer here at RMD’s headquarters in Chicago, and we hope this holiday weekend finds you surrounded by family, friends, and warm temperatures. We’ll be off Monday in observance of Memorial Day, but expect the latest news in your inbox on Tuesday morning. In case you […]

Originators of Home Equity Conversion Mortgages saw endorsement figures drop 17.3% in March, according to the most recent figures from Reverse Market Insight — dragged down by a “stunning” 28.7% decline in wholesale originations. The industry, including both Federal Housing Administration-approved and non-approved lenders, logged 4,298 loans in March, representing the second consecutive month of […]

With strong demographic trends and a relatively tiny market share, equity release products could be poised for an explosion in the United Kingdom. At least that’s according to a pair of analysts from the actuarial firm of Milliman, who took to Financial Adviser — a publication of the Financial Times — to make the case […]

The U.S. Senate on Wednesday voted to confirm Brian Montgomery as Federal Housing Administration commissioner, ending a long-delayed process that began last fall. The final vote was 74-23 in favor of confirmation. President Trump nominated Montgomery, who had previously served as FHA commissioner under the second President Bush from 2005 to 2009, for the post in September. […]

Less than 40% of Americans say their retirement plans are on track, and non-retirees report widespread confusion about some common financial tools and concepts, according to a new report from the Federal Reserve. Three-fifths of working people with 401(k)s, IRAs, and traditional savings accounts reported “little or no comfort” with managing them, the Fed found […]

On the same day Reverse Mortgage Funding announced its new proprietary Equity Edge Reverse Mortgage, two more companies affirmed their commitment to building the private home equity conversion loan space. Longbridge Financial will introduce multiple private reverse mortgage products this year, CEO Chris Mayer announced Monday* at the National Reverse Mortgage Lenders Association’s eastern meeting […]

One of the anecdotes circulating around the industry is that a Department of Housing and Urban and Development employee is claiming that reverse mortgage losses in the Mutual Mortgage Insurance Fund (MMIF) will drop if volume goes up. The logic is that the higher the endorsements, the more mortgage insurance premiums (MIPs) there will be […]