ReverseVision Announces Tool to Measure Borrower Satisfaction

A Home Equity Conversion Mortgage borrower satisfaction benchmark is in the works, reverse mortgage technology leader ReverseVision and mortgage advising firm STRATMOR Group announced Monday. The companies joined together to create new HECM survey questions that will be added to STRATMOR’s MortgageSAT Borrower Satisfaction Program, a borrower feedback analysis program that allows lenders to improve […]

Originators See Growing Reverse Mortgage Support from Adult Children

As adult children become less debt-adverse and more involved in their parents’ finances, originators are noticing more receptivity and engagement from borrowers’ children during the reverse mortgage loan process. Laurie MacNaughton, a reverse mortgage specialist with Atlantic Coast Mortgage in the Washington, D.C. area, says more adult children are picking up the phone and making […]

Home Equity Crucial to Health Care Planning as Costs Rise 4% Each Year

As health care costs are expected to keep rising, reverse mortgages and other home-equity tapping solutions can play a vital part in planning for health expenses for seniors. HealthView recently released its 2018 Retirement Health Care Costs Data Report, which showed that retirees can expect their health care costs to rise annually by about 4.22% […]

American Homeowners Don’t Want to Move, Plan for Home Repairs Instead

As recent home value appreciation reports have pointed out, homeowners in America are not selling, and a recent analysis from Zillow said that many — 63% — are not looking to move at all. The Zillow Group’s Consumer Housing Trends Report 2018 surveyed 13,439 current renters, buyers, sellers, and homeowners about their housing attitudes during […]

US Mortgage Expands HECM Reach with New Hire, More Training

As some reverse mortgage lenders and originators are diversifying in response to the past fiscal year’s discouraging origination volume, other companies are adding resources and intensifying their Home Equity Conversion Mortgage focus. Earlier this week, US Mortgage Corporation announced the addition of Joseph Susserman to its expanding reverse mortgage team, and their national reverse mortgage sales […]

21% of Boomers Lack Savings for One Month’s Expenses

Yet another poll reveals that all generations feel unprepared when it comes to retirement savings — with 21% of baby boomers lacking adequate savings to cover one month of basic expenses, according to AARP. Co-commissioned with the Association of Young Americans, the “Three Generations Survey” asked baby boomers,Generation Xers, and millennials, a variety of retirement […]

Like California, Texas Primed for Private Reverse Mortgage Growth

High home values, a rapidly expanding aging population, and favorable legislation make Texas ideal for a wave of proprietary reverse mortgages, several industry experts say. During the last year, the Home Equity Conversion Mortgage program’s lower principal limit factors have resulted in fewer qualified borrowers and waning origination volume. But the changes also sparked innovation […]

Older Americans Feel Confident About Homebuying — and Not Downsizing

While many Americans find the homebuying process to be confusing or simply out of reach, the overwhelming majority of Americans over 60 years old — about 84% —  feel better equipped to start the process. A recent survey from community development non-profit NeighborWorks America sought to learn more about Americans’ attitudes toward homebuying and student […]

Senior Home Equity Hits $6.9 Trillion, Signifies Biggest Chunk of Wealth

Senior home equity is continuing its upward march, with housing wealth reaching $6.9 trillion in the second quarter of 2018. Equity for homeowners 62 and older grew $130 billion over the first quarter of 2018, according to the most recent figure from the National Reverse Mortgage Lenders Association/RiskSpan Reverse Mortgage Market Index. Reaching a new […]

As Median Retirement Savings for Seniors Sits at $14K, Experts Seek Solutions

As few future retirees feel secure about their savings for their golden years, financial and retirement experts recently gathered to create a more comprehensive plan for America’s seniors. The Aspen Leadership Forum on Retirement Savings joined together more than 80 financial researchers, policymakers, entrepreneurs, and others to address the rising retirement concerns and to discuss […]