The reverse mortgage industry has been under scrutiny in recent weeks over tax-and-insurance defaults, with the Washington Post highlighting several seniors’ issues with servicers and the Department of Housing and Urban Development instituting new rules to help protect the Mutual Mortgage Insurance Fund from losses. One group in California has been attempting to provide resources […]

With less than a month to go until the Department of Housing and Urban Development’s new reverse mortgage rules come into effect, many in the industry have predicted a scramble to the finish as potential borrowers attempt to lock down loans before limits narrow and insurance premiums rise. On the ground, as early as two […]

After a blockbuster week in the world of reverse mortgages, you’ve earned a relaxing Labor Day weekend. All of us at RMD wish you a wonderful break, and don’t forget to take a second to tip your cap to the workers — of all kinds and walks of life — who keep our country running […]

It’s been two years since Financial Assessment rocked the reverse industry, but now that the dust has settled, some say the impact is clear. HECM counselors across the country say they are seeing a distinct shift in their client profile, from someone with limited options looking to access more cash to a more financially savvy […]

The Department of Housing and Urban Development on Thursday awarded $50.6 million in counseling grants to agencies across the country, following through on one of Ben Carson’s key initiatives so far in his tenure as secretary. The vast majority of the grant cash — about $47 million — will go directly to hundreds of national, […]

The initial results of a pilot program aimed at assisting seniors with mortgage services — including reverse mortgage borrowers in danger of foreclosure — indicate a growing use of these resources in areas across the nation. Launched last year by non-profit organization HOPE NOW, the pilot includes several full-day events in California that offer reverse […]

CIT Bank and its retail subsidiary, OneWest Bank, awarded a $335,000 grant to fund counseling for seniors in danger of tax-and-insurance reverse mortgage foreclosures in California. The money will help a pair of organizations — the Atlanta-based ClearPoint Credit Counseling Solutions and the Hope Now Alliance of Washington, D.C. — host events throughout the state […]