Despite industry concerns about lower endorsement volumes and constrained principal limits, reverse mortgage originators continue to see success stories on the ground level. Kathy Collins, a branch manager at UMAX Mortgage in Carlsbad, Calif., recently assisted a couple who opened a Home Equity Conversion Mortgage to fund their grandson’s education. “I presented them with what […]

Yet another survey of American retirement savers has revealed that a significant chunk of people don’t feel comfortable with the amount of money they’ve already stockpiled — with about half feeling as though they’re chasing a retirement dream that may have already left them behind. In a recent poll of adults aged 45 to 65 […]

As the industry continues to adapt to a new landscape of lower principal limit factors, reverse mortgage experts say it’s key to remember why most borrowers pursue the products in the first place — and how those motives have changed amid greater education and positive news coverage. Traditionally, homeowners take out reverse mortgages to gain […]

The Great Recession still looms large in the housing market, as homeowners who took advantage of low interest rates at the beginning of the decade are increasingly electing to stay in their properties instead of trading up. “Although homeowners have more equity today, most of them also have ultra-low-rate mortgages they locked in during the […]

Few originators’ duties are complete after a client’s reverse mortgage has been closed. For many borrowers, these reverse mortgage specialists continue to be the first point of contact when assistance is needed with their loan. Although some borrowers have general questions, servicing issues are often the reason why an originator hears from a borrower again. […]

In a wide-ranging dive into the pros and cons of taking out reverse mortgages, Forbes this week advised consumers to shop around. “Ideally, you’ll want to get at least three quotes,” financial planner and Forbes contributor David Rae wrote. “Make sure each proposed reverse mortgage shows a selection of margins and also illustrates how your […]

As China faces the familiar demographic math problem causing economic headaches in countries around the world, the nation’s government has decided to expand its reverse mortgage program. The China Banking Regulatory Commission last week made reverse mortgages available to all homeowners aged 60 and older, according to a report from Sixth Tone, an online publication […]