Reverse Mortgage Pros

Reverse Mortgages Pros

• Call Center or Branch Model? Some Reverse Lenders Say Both
  As the lender landscape for reverse mortgages has changed over the last 18 months, so, too, has the model for origination types in the market. Some lenders that have long utilized a phone-origination approach are adding originators in the field, and some others with experience largely based in branch offices are managing and growing call [...]

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Reverse Mortgages Pros

• Texas House Gives Go-Ahead for Reverse Mortgage Purchase Loan
  In yet another step toward approval in the state, the reverse mortgage for purchase loan received a vote in favor Thursday by Texas’s state House of Representatives.  Reverse mortgage advocates as well as other vested groups have long been working with the state legislature toward amending the constitution to allow for the Home Equity Conversion [...]

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Reverse Mortgages Pros

• NRMLA Proposes Reverse Mortgage Financial Assessment Guidance to HUD
  In response to market and regulatory factors that are leading to a “new phase of HECM,” (Home Equity Conversion Mortgage) the National Reverse Mortgage Lenders Association today laid forth guidance for the Department of Housing and Urban Development toward a financial assessment of reverse mortgage borrowers.  In order to determine whether borrowers are at risk [...]

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Reverse Mortgages Pros

• CFPB Targets Pension Advances, Reverse Mortgage Market Geared for Comeback?
  Reverse Focus Weekly Podcast Episode #257 In this week’s Reverse Focus podcast, Shannon Hicks discusses recent federal crackdowns on pension-advance firms. New York’s Department of Financial Services has already issued 10 subpoenas to such firms as part of its investigation. Also discussed, real estate experts speculate whether the reverse mortgage market is poised for a [...]

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Reverse Mortgages Pros

• Friday Round-Up: Nationstar Aquires Greenlight, AAG Launches New Ad
  In case you missed it… here’s what happened in reverse mortgage news this week. Nationstar acquired Greenlight Financial. In a deal valued at up to $75 million, the mortgage giant acquired with Greenlight its growing reverse mortgage division based in Irvine, Calif. Greenlight Reverse had closed 217 reverse mortgages in the first quarter of 2013 [...]

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Reverse Mortgages Pros

• Make Retirement Savings Mandatory Before It’s Too Late?
  With a looming retirement crisis not just for those entering their “golden years” today but for generations into the future, there may be a seemingly simple solution: make retirement savings mandatory.  This was part of an idea proposed by famed BlackRock CEO Larry Fink in a remarks delivered before students of New York University’s Stern [...]

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Reverse Mortgages Pros

• WSJ: There’s Help For Reverse Mortgage Borrowers in Trouble
  Despite an uptick in the number of borrowers facing foreclosure under the Federal Housing Administration’s reverse mortgage program over the past two years, there is help available for those who need it.  Yet many don’t know about that help under a little-known federal guideline, according to a Wall Street Journal article published this week.  Citing [...]

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Reverse Mortgages Pros

• HUD to Sell 20,000 Distressed Loans To Drive FHA Recovery
  The Department of Housing and Urban Development will sell 20,000 distressed loans this summer through its Distressed Asset Stabilization Program in an effort to help shore up the Federal Housing Administration insurance fund. In addition to bolstering the fund’s recovery, the sale of the distressed loans will help reduce shadow inventory and should support overall [...]

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Reverse Mortgages Pros

• Walter Investment Closes Purchase of Security One Lending for Up to $31 Million
  Reverse Mortgage Solutions parent company Walter Investment Management Corp. (NYSE: WAC) today announced it has completed a deal to acquire Security One Lending under terms previously announced in January.  The agreement was signed December 31, subject to regulatory and change of control approvals, which have since been met. Walter agreed at the time to a [...]

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Reverse Mortgages Pros

• Study: Americans Are In Major Denial About Long Term Care
  Despite having several concerns about the possibility of aging and losing independence, few Americans aged 40 and older actually take action to plan for their future long-term care needs, says a recent study that reveals ”several critical issues” with the potential to inform the long-term care policy dialogue. Nearly half (48%) of Americans in this age [...]

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