Lifestyle communities for residents over the age of 55 can be popular retirement locations for seniors, with a whole host of regular activities, encouragement of an active lifestyle and engagement with people from a senior’s own generation. On top of the benefits to potential residents, builder confidence in age-restricted 55-plus housing ended 2018 on a […]
Reverse mortgage professionals are optimistic in their outlook for the industry over the course of 2019, and are encouraged by strong business results for January, along with the increasing prevalence of proprietary products and an heightening level of general conversation surrounding reverse mortgage products in general. That doesn’t mean, though, that optimism isn’t at least […]
Live Well Financial is expanding its business with the evolution of an in-house technology platform that caters to a forward-reverse approach, and targets its distributed retail channel. While the company has been originating forward and reverse mortgages for some time, it is now ramping up its efforts toward distributed retail sales with originators who will […]
A recent reverse mortgage court decision in Florida could have an impact on loans in other states. The court’s determination that a loan can be called due and payable at the maturity date rather than upon the death of the borrower has the potential to drive decisions in other states, an attorney tells RMD. It […]
Reverse mortgage firms have had to find new ways to adapt to the realities of business, particularly in the wake of highly influential changes to principal limit factors (PLFs) handed down by the Department of Housing and Urban Development (HUD) in October of 2017. While some are focused more squarely on innovating ways to conduct […]
Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), elected not to make an approximately $9 million cash interest payment to its creditors that was due on December 17, 2018. With Thursday marking the end of a 30-day grace period related to that payment, that decision has put the beleaguered corporation at […]
The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they […]
Echoing decisions among several large U.S. banks that decided to exit the reverse mortgage business in recent years, a number of banks in Australia are now doing the same, including the nation’s largest lender, the Commonwealth Bank. This may prove to pave the way for the Australian government to enter the fray with a low-cost […]
Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]
San Diego, Calif.-based reverse mortgage broker iReverse Home Loans Corporation has been acquired by longtime mortgage producer and manager Michael A. Mazursky, according to a press release from the company distributed on Monday. Terms of the acquisition deal were not publicly disclosed. “Mr. Mazursky has a proven eighteen-year track record in the mortgage industry and […]
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