Kraninger Sworn in at CFPB as Waters Decries Weakened Enforcement

After her confirmation last week in the United States Senate, Kathleen L. Kraninger was sworn in as the new, full-time director of the Consumer Financial Protection Bureau (CFPB) on Monday afternoon. She made her “media debut” on Tuesday, answering questions from the press on her first full day on the job. Meanwhile, California Congresswoman Maxine […]

Live Well Sells $4B HMBS Portfolio to RMF, Peak Buyout Ends

Live Well Financial has sold the majority of its Home Equity Conversion Mortgage-backed securities (HMBS) issuance portfolio – $4 billion worth – to Reverse Mortgage Funding, LLC (RMF), according to GNMA data cited by New View Advisors in recent commentary. The acquisition places RMF as the owner of the largest HMBS issuance portfolio industry-wide, New […]

Reverse Mortgage Stakeholders Dispel Product Myths for Home Care Audience

Bridging two industries that have a shared interest in the ability of senior individuals to age in place, reverse mortgage stakeholders presented a webinar discussion last week to an audience of in-home care professionals. Largely focused on presenting the benefits of reverse mortgages for home care recipients, the panel also dispelled common myths around the […]

Interest Rate Movement Could Skew Positive for Reverse Mortgage Market

After a rocky 2018, reverse mortgage prospects may be getting a bit brighter for borrowers and lenders as the year comes to a close. As the market approaches its final days of 2018, originators and borrowers could stand to benefit from the current interest rate environment, according to Understanding Reverse author and Live Well Financial […]

Lenders Prepare for 2019 Reverse Mortgage Challenges

Recent program changes and new appraisal rules have led reverse mortgage lenders to update their strategies and approaches in a consistently dynamic market. And on the the heels of major product changes implemented in late 2017, many longtime reverse mortgage players have adapted their businesses accordingly. Yet there are several challenges that remain in light […]

Forbes: A History of Reverse Mortgages

A professor at the American College of Financial Services has written a new column detailing the history of reverse mortgages, extending further beyond the Housing and Community Development Act of 1987 signed into law by President Ronald Reagan in February of 1988 by over 25 years. Appearing at Forbes, Dr. Wade Pfau – who also […]

MIT Researcher: Why Financial Advisors May Become ‘Longevity Advisors’

The director of the Massachusetts Institute of Technology (MIT) AgeLab sees that the future for the financial advising profession may lie in taking on a new role for “longevity advisors,” according to a new white paper he published at Hartford Funds. The paper, titled “The Future of Advice” and written by Dr. Joseph F. Coughlin, […]

Senate Confirms Kathleen Kraninger as CFPB Director

The United States Senate voted along narrow party lines on Thursday to confirm Kathleen L. Kraninger as the new full-time director of the Consumer Financial Protection Bureau (CFPB) for a term of five years. After a vote of 50-49, Kraninger will become the first full-time director the agency has had since the resignation of inaugural […]

HECM Endorsements Hit New Low Following October 2017 Changes

Home Equity Conversion Mortgage (HECM) endorsements dropped in November by 17.4 percent, representing a new low in volume since HECM rule changes were put into effect by the U.S. Department of Housing and Urban Development (HUD) in October, 2017. “New lows, here we are,” said John Lunde, founder and president of Reverse Mortgage Insight (RMI), […]

AAG Hires New Senior Vice President of Operations

American Advisors Group (AAG) announced on Wednesday the hiring of Joseph “Joe” Stephenson, a former Morgan Stanley, Bank of America and Wells Fargo executive, as its new senior vice president of operations. Among his duties will be the oversight of all operational facets for AAG’s sales channels, including the national field sales division, retail call […]