The housing wealth of homeowners aged 62 and over grew by 1.4 percent, or $98 billion in the fourth quarter of 2018, resulting in a record total housing wealth level of $7.05 trillion, according to figures reported Wednesday by the National Reverse Mortgage Lenders Association (NRMLA) in its quarterly release of the NRMLA/RiskSpan Reverse Mortgage […]
The reverse mortgage industry has had to endure multiple significant changes over the last 18 months, but the arrival of a new rule that opened the possibility for a property to require a second appraisal had the potential to notably impact both lenders and borrowers. With five months of second appraisals, the industry has taken […]
As more alternative home equity tapping tools like sale leasebacks and shared equity products begin to enter conversations about retirement, more traditional reverse mortgage products are finding themselves in a more competitive environment. Originators don’t tend to see these products as threatening, but more traditional reverse mortgages may have another key advantage: borrower safety. The […]
Reverse mortgage products are being described as the possible source of a “financial boost” for seniors with a need for supplemental income in a magazine primarily aimed at home economics and women’s interest topics, giving the supermarket shoppers who primarily buy the publication a little-seen perspective on home equity release. In an article titled “A […]
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