CFPB: Low Housing Payments Signal Better Senior Financial Well-Being

Older American homeowners have a greater degree of financial well-being than those who do not own a home, while lower housing costs are also correlated to more positive financial well-being. This is according to a survey titled “Financial Well-being of Older Americans,” released by the Consumer Financial Protection Bureau (CFPB) Office of Financial Protection for […]

Study Reveals New Retirees Are Better Prepared Than Previously Thought

The calculation of households prepared to transition into retirement has been operating off of a flawed estimate of retirement income in United States Census Bureau data, with numbers actually showing that more are prepared for the transition out of work than originally believed. This is one of the primary conclusions underlying a new brief released […]

WaPo: Qualifying for a Mortgage Difficult in Retirement

Even for seniors with impeccable credit scores and plenty stored in assets, purchasing or refinancing a home in retirement without regular employment income can be a challenge, a recent column in the Washington Post says. In his column “Even retirees with sizable assets can find qualifying for a mortgage challenging,” Kenneth Harney writes that retired […]

Waterfall Asset Management Issues $571.8 Million in Active Jumbo Reverse Mortgage Bonds

The first offering of its kind since the financial crisis, Waterfall Asset Management is offering $571.8 million in performing jumbo reverse mortgage-backed bonds, according to Kroll Bond Rating Agency. The Cascade Funding Mortgage Trust 2018-RM2 securitization is backed by 915 active non-FHA reverse mortgages loans that were taken out between 2002 and 2008 and have […]

Social Media Crucial to Online Reverse Mortgage Marketing

For anyone planning on being in the reverse mortgage industry for at least the next five years, marketing experts say the value of social media — especially Facebook – cannot be overlooked, as millions of seniors flock to the platform for pertinent information. But approaching social media as a starting point for lead generation requires […]

More Proprietary Reverse Mortgages Expected to Enter Market

New proprietary reverse mortgage products are on the horizon as innovators look to fill remaining gaps left between the Home Equity Conversion Mortgage and other private products. At a panel discussion Monday at the National Reverse Mortgage Lenders Association annual conference in San Diego, Longbridge Financial CEO Chris Mayer, Reverse Mortgage Funding president David Peskin, […]

USA Today: Reverse Mortgages Can Help Manage Retirement Mortgage Debt

Carrying a mortgage into a retirement can present a number of concerns for homeowners, so many experts recommend paying off this debt during the working years. This isn’t always possible though, and experts in a recent NerdWallet article that was republished by USA Today, offered ways to help mortgage-carrying retirees. In the article “Why you […]

Boomers Have Less Equity, More Debt than Past Generations

Compared to older generations, baby boomers are facing retirement with more debt, smaller savings accounts, and less home equity, a new report from the Stanford Center on Longevity reveals. The center recently released its special report “Seeing Our Way to Financial Security in the Age of Increased Longevity.” This work is part of the Sightlines […]

TransUnion: Home Equity Borrowing Poised to Skyrocket

With home equity continuing to increase and a need for more debt consolidation tools, home equity lending is poised for strong growth in the coming years, a new TransUnion study revealed today. To make the most of this growth lenders must understand specific consumers’ needs to tailor their messages, the study “Emerging Opportunities in Home […]

Rising Healthcare Costs Key Factor in Planning Retirement

As long term care costs have risen 3% from 2017 to 2018, seniors need to keep these rising health care costs in mind as they plan for retirement, the latest cost-of-care data shows. On Tuesday, Genworth Financial, an insurance holding company, released its 15th Annual Cost of Care Survey looking at the costs of assisted living […]