Friday Round-Up: Counseling Debunks Common Reverse Mortgage Myths

Congratulations on making it to another Friday. The weekend is in sight, but until then, in case you missed it, here’s what happened in reverse mortgage news this week: The Truth About Reverse Mortgages and Heir Legacy—A prevalent myth about reverse mortgages is they drain home equity, leaving little to nothing left for heirs upon […]

Most Common Reverse Mortgage Myths Debunked During HECM Counseling

From an educational standpoint, Home Equity Conversion Mortgage (HECM) counselors are the first line of defense in the ongoing struggle to dispel the most common reverse mortgage myths and misconceptions. Mandatory HECM counseling provides seniors with the necessary exposure to make an informed decision about getting a reverse mortgage. Like originators, the job of a […]

Friday Round-Up: Reverse Mortgage Stigmas, Top Wholesale & Retail Lenders

In case you missed it, here’s what happened in reverse mortgage news this week: The Top Reverse Mortgage Lenders for Retail, Wholesale Growth in 2015—Reverse mortgage wholesale volume bounced back to end 2015 on a positive note. But although total endorsement counts were less than what some industry leaders expected, 2015 was a big growth […]

HUD Offers $40 Million in Housing Counseling Grants

The Department of Housing and Urban Development (HUD) plans to award $40 million worth of grants to support hundreds of housing counseling organizations nationwide, including those focused on reverse mortgages, the agency announced Friday. HUD is offering $40 million to directly support housing counseling services provided by national, regional and multi-state organizations, as well as […]

Reverse Mortgage Business Tips, HUD to Collect Counseling Data

Reverse Focus Weekly Podcast Episode #399 In this week’s Reverse Focus podcast, Shannon Hicks discusses a recent article from MarketWatch, which suggests that competent financial advisers should be able to assist their clients with an array of investment services—and that includes evaluating the potential use of a reverse mortgage to produce retirement income. Although advisers […]

Friday Round-Up: Refi Madness, Grow Your Reverse Mortgage Business in 2016

In case you missed it, here’s what happened in reverse mortgage news this week: Worlds Collide: Is 2016 the Year for Reverse Mortgages & Financial Advisers?—Although reverse mortgages withstood significant changes over the past year, they’ve also gained a few allies in the financial planning sector—several of whom see increasing opportunities for the reverse mortgage […]

ReverseVision to Develop Counseling Solution Through New Portal

Reverse mortgage technology company ReverseVision is building out its platform of service offerings including a new solution that aims to streamline the origination process including counseling documents. While lenders and counselors are prohibited from communicating due to anti-steering regulations, the new service would rely on e-signing to allow the counseling certificate to be accessed through […]

HUD Wants to Collect Counseling Data on Reverse Mortgage Borrowers

The Department of Housing and Urban Development (HUD) is currently seeking approval to collect information on hundreds of consumers who participate in mandatory Home equity Conversion Mortgage (HECM) counseling, according to a recent proposal published Monday in the Federal Register. HUD proposes to collect information on 300 individuals or households in its efforts to determine the […]

Thanksgiving Round-Up: Reverse Mortgage Research Takes Center Stage

RMD will be observing the Thanksgiving holiday this Thursday and Friday, but will return to our normal posting schedule Monday, November 30. In the meantime, RMD would like to wish all our readers a safe, enjoyable and Happy Thanksgiving. We’ll see you back here on Monday. Until then, in case you missed it, here’s what […]

Counseling Research Sheds New Light on Reverse Mortgage Borrowers

People get reverse mortgages for a variety of different reasons. Also varied are the motives behind why some borrowers go through Home Equity Conversion Mortgage (HECM) counseling and then ultimately decide against getting a reverse mortgage. New research funded by the MacArthur Foundation and the Department of Housing and Urban Development aims to provide some […]