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Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale
Blog 1 day ago
Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale

Long after leaving the reverse mortgage business, Bank of America is back on the landscape — now with an objection to Reverse Mortgage Solutions’...

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Non-Borrowing Spouse Scenario Sheds Light on Reverse Mortgage Misunderstandings
Blog 5 days ago
Non-Borrowing Spouse Scenario Sheds Light on Reverse Mortgage Misunderstandings

Multiple high-profile news articles that have appeared in different media outlets this year have highlighted the continued difficulties faced by...

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HUD Offers More Reverse Mortgage Pools for Sale
Blog 6 days ago
HUD Offers More Reverse Mortgage Pools for Sale

The Department of Housing and Urban Development (HUD) has publicly announced its intention to sell multiple pools of approximately 1,500 reverse...

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Ditech Names Successful Bidder for RMS
Blog 1 week ago
Ditech Names Successful Bidder for RMS

After engaging in a court-supervised sale process for the stock and assets of Reverse Mortgage Solutions (RMS), parent company Ditech Holding...

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RMD Report: Long Term Care Focus Increases in Reverse Mortgage Market
Blog 1 week ago
RMD Report: Long Term Care Focus Increases in Reverse Mortgage Market

When drilling down on the primary reasons that a borrower may decide to take a reverse mortgage, whether they want to supplement their income,...

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The Mortgage Professor: Shortening Indebtedness with a Reverse Mortgage
Blog 2 weeks ago
The Mortgage Professor: Shortening Indebtedness with a Reverse Mortgage

While refinancing a home is primarily used for either reducing a monthly payment or raising some needed cash, a third and underutilized option is...

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An Inside Look at NRMLA, the Reverse Mortgage Trade Association
Blog 2 weeks ago
An Inside Look at NRMLA, the Reverse Mortgage Trade Association

The National Reverse Mortgage Lenders Association (NRMLA) is the foremost advocacy and educational organization in the reverse mortgage industry,...

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Sweeping N.Y. Reverse Mortgage Bill Leads Law Firm to Advise Compliance
Blog 3 weeks ago
Sweeping N.Y. Reverse Mortgage Bill Leads Law Firm to Advise Compliance

Reverse mortgage originators and servicers that conduct business in the state of New York should act now to comply with a bill passed by that state...

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Industry Expert: What USA Today Got Wrong About Reverse Mortgages
Blog 3 weeks ago
Industry Expert: What USA Today Got Wrong About Reverse Mortgages

Even before USA Today published an article this month taking aim reverse mortgages and the associated industry's practices, the news outlet had...

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Canada's Top Reverse Mortgage Lender Targets Veterans Through New Partnership
Blog 3 weeks ago
Canada's Top Reverse Mortgage Lender Targets Veterans Through New Partnership

Toronto-based HomeEquity Bank (HEB), the leading provider of reverse mortgages in Canada, has partnered with domestic veterans organization the...

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Local Spotlight: Reverse Mortgages in Colorado
Blog 3 weeks ago
Local Spotlight: Reverse Mortgages in Colorado

In February 2018, Denver, Colorado, snagged the number 2 spot on LendingTree's list of cities with the highest usage rates of reverse mortgages....

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Equity Tapping Company Partners With 8 of Top 10 Reverse Mortgage Companies
Blog 1 month ago
Equity Tapping Company Partners With 8 of Top 10 Reverse Mortgage Companies

While most new equity-tapping companies view reverse mortgage lenders as competition, one company is taking a very different approach by partnering...

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April Wholesale Growth Outpaces Retail Reverse Mortgage Endorsements
Blog 1 month ago
April Wholesale Growth Outpaces Retail Reverse Mortgage Endorsements

Home Equity Conversion Mortgage (HECM) endorsements saw rise of 12.7 percent in April, hitting a threshold of 2,899 loans according to the latest...

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Arista Financial Targets Reverse Mortgage Acquisitions for Market Entry
Blog 1 month ago
Arista Financial Targets Reverse Mortgage Acquisitions for Market Entry

New Jersey-based financial services holding company Arista Financial Corp., which offers financing options to small truck lenders through its...

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CFPB Releases Spanish Language Translation of Reverse Mortgage Guide
Blog 1 month ago
CFPB Releases Spanish Language Translation of Reverse Mortgage Guide

The Consumer Financial Protection Bureau (CFPB) announced this week that it has released a new version of its consumer guide to reverse mortgages,...

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Tips for Tackling Closing Costs With Reverse Mortgage Borrowers
Blog 1 month ago
Tips for Tackling Closing Costs With Reverse Mortgage Borrowers

No matter the business, there are always issues that can come up when trying to close a deal. In the reverse mortgage industry these hurdles can be...

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U.S. News: Senior Mortgage Tips Include Reverse Mortgages
Blog 1 month ago
U.S. News: Senior Mortgage Tips Include Reverse Mortgages

A mortgage finance expert describes how reverse mortgages can potentially act as a "lifesaver" for some seniors in specific financial situations,...

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Reintroducing RMD’s Comments Community
Blog 1 month ago
Reintroducing RMD’s Comments Community

For longtime readers of Reverse Mortgage Daily, many have participated in industry dialogue by commenting in response to articles on RMD. The...

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RMD Report: Alternative Equity Tools Could Bode Well for Reverse Mortgage Industry
Blog 1 month ago
RMD Report: Alternative Equity Tools Could Bode Well for Reverse Mortgage Industry

In addition to the plethora of proprietary reverse mortgage products that have started to become increasingly prevalent in the industry, there have...

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HUD: Reverse Mortgage Program Remains Stable in Q2
Blog 1 month ago
HUD: Reverse Mortgage Program Remains Stable in Q2

The Department of Housing and Urban Development (HUD) has released its Q2 Federal Housing Administration (FHA) Single-Family Mutual Mortgage...

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Ditech Puts Reverse Mortgage Solutions Up for Auction
Blog 1 month ago
Ditech Puts Reverse Mortgage Solutions Up for Auction

Reverse Mortgage Solutions (RMS), the reverse mortgage servicing business owned by Ditech Holding Corporation, has been put up for auction by its...

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The RMD Podcast #2: Interview With FHA Commissioner Brian D. Montgomery
Blog 1 month ago
The RMD Podcast #2: Interview With FHA Commissioner Brian D. Montgomery

The second episode of The RMD Podcast features a very special guest! With a reverse mortgage market in a state of evolution, it’s natural to look...

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Open Mortgage Hires 50 From Former Live Well Team
Blog 1 month ago
Open Mortgage Hires 50 From Former Live Well Team

Multi-channel lender Open Mortgage announced Thursday that it has hired the core team of mortgage lending executives from the recently-closed Live...

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Ginnie Mae Official Discusses How to Replace LIBOR
Blog 1 month ago
Ginnie Mae Official Discusses How to Replace LIBOR

Both the Government National Mortgage Association (GNMA, or "Ginnie Mae") and the Department of Housing and Urban Development (HUD) have discussed...

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Yahoo Finance: Answer These 5 Questions Before Getting a Reverse Mortgage
Blog 1 month ago
Yahoo Finance: Answer These 5 Questions Before Getting a Reverse Mortgage

Characterizing reverse mortgages as “misunderstood,” a new article that aims to answer five key questions for potential borrowers before making a...

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HECM Problems That Can Be Solved With Proprietary Products
Blog 1 month ago
HECM Problems That Can Be Solved With Proprietary Products

The increasing prevalence of proprietary reverse mortgages continues to evolve and expand, providing necessary service in under-served parts of the...

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Forbes: FINRA’s Evolution on Reverse Mortgages
Blog 1 month ago
Forbes: FINRA’s Evolution on Reverse Mortgages

The Financial Industry Regulatory Authority (FINRA) describes its stance on reverse mortgages in a report titled, “Reverse Mortgages: Avoiding a...

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FirstBank Exits Reverse Mortgage Business, Team Moves to Mid America Mortgage
Blog 1 month ago
FirstBank Exits Reverse Mortgage Business, Team Moves to Mid America Mortgage

Lakewood, Colo.-based FirstBank has exited the third-party origination (TPO), correspondent, and reverse mortgage businesses, RMD has learned. The...

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Reverse Mortgage Professionals Talk Modern Sales Challenges
Blog 2 months ago
Reverse Mortgage Professionals Talk Modern Sales Challenges

A reduced number of qualifying borrowers, adjusting to Home Equity Conversion Mortgage (HECM program changes and overcoming objections: these are...

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The Best Path For Reverse Mortgages: Private vs. HECM Loans
Blog 2 months ago
The Best Path For Reverse Mortgages: Private vs. HECM Loans

The reverse mortgage market has long awaited the return of private products to a HECM-heavy market. Now that several products are making inroads...

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