The Academy for Home Equity in Financial Planning (AHE) at the University of Illinois Urbana-Champaign has released a new publication, proposing guidance language for broker-dealers and investment advisory firms to use to help govern planners’ interactions with reverse mortgage products. The publication — featuring contributions from people including Dr. Craig Lemoine, Betty Meredith CFA, Dr. […]
Financial advisors, who are receiving an influx of first-time inquiries during the COVID-19 pandemic according to recent reports, are perceived to have varying levels of value among those consumers who seek their expertise, new research shows. That value can depend on very basic elements of the relationship, such as how often an advisor meets with […]
In general, people have a tendency to put aside money for accomplishing different tasks they’d like to achieve in their lives. Maybe there’s a swear jar on the kitchen table to try and dissuade the occasional curse word from slipping out around the kids, or maybe a couple has a specific bank account dedicated to […]
An increase in reverse mortgage draw activity by borrowers in March is illustrative of the reliability of drawing on home equity in times of crisis, while also carrying implications for how reverse mortgage products may be perceived on the other side of the COVID-19 coronavirus pandemic. This is according to two financial professionals, based on […]
While reverse mortgage products have always had reputational hurdles to overcome, one of the oft-repeated ways that product educators and industry professionals have cited in an attempt to appeal to financial planners is by using a reverse mortgage – Home Equity Conversion Mortgage (HECM) or otherwise – to avoid sequence of returns risk. That way, […]
In spite of declined reverse mortgage endorsements observed in calendar year 2019, the reverse mortgage industry continues to feel general optimism for the trajectory of the business in the early days of 2020. Sources of general optimism include the increasing prevalence of proprietary reverse mortgage products, the signing of new financial legislation and a generally […]
Late last year, the House Financial Services Subcommittee on Housing, Community Development, and Insurance convened a hearing to discuss merits and possible areas of improvement in the federal Home Equity Conversion Mortgage (HECM) program. Featuring a panel of witnesses that included academic and government researchers along with the then-president of the National Reverse Mortgage Lenders […]
A new in-depth article published by USA Today takes aim at legal and financial difficulties faced by the heirs of reverse mortgage borrowers when trying to pay off the loan balance in order to keep the affected properties. Based on input from over 100 “tips” submitted to the outlet after its look at reverse mortgage […]
After American Advisors Group (AAG) released its latest television commercials in July and August, respectively, the reverse mortgage industry was buzzing with activity. After sharing the July Home Equity Conversion Mortgage (HECM)-focused ad on social media, originators, brokers, counselors and more seemed to see actor Tom Selleck not just as a spokesman for AAG, but […]
The reverse mortgage industry continues to face headwinds in terms of widespread acceptance among financial planning professionals, but the growing prevalence of proprietary products and a growing base of both affluent and middle-income borrowers will go a long way in signaling how viable the products can be as tools for financial planning. “Most of the […]
