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Senior Home Equity Hits Highest Point Since Q3 of 2008

House Atop Money/Credit: Creatas

Americans 62 years old and older now have more equity in their homes than at any time since mid-2008, according to data released by the National Reverse Mortgage Lenders Association (NRMLA)The new information comes from the NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI), which analyzes trends in the home values, home equity, and mortgClick to continue

Mike Suits to Lead 360 Mortgage's New Reverse Mortgage Division


360 Mortgage Group LLC has announced the formal introduction of its newly launched reverse mortgage division. The foundation of 360 Mortgage Reverse is an end-to-end reverse mortgage processing platform for mortgage brokers, third-party originators, community banks and credit unions to originate reverse mortgage loans.Click to continue

Reverse Mortgage Funding Adds Robert Cooper as Director of Strategic Marketing


Reverse Mortgage Funding LLC announced that it has hired Robert Cooper as its director of Strategic Partners. Cooper will be responsible for building strategic relationships and partnerships with the builder and realtor communities.Click to continue

Ginnie Mae Announces Reverse Mortgage Policy Changes


Ginnie Mae is announcing policy changes and clarifications to pooling requirements for its Home Equity Conversion Mortgage (HECM) Mortgage Backed Securities (HMBS) program. Specifically, as described below, Ginnie Mae will prohibit the inclusion of fixed rate HECM loans where the borrower may choose a payment plan option that provides for future loan advances against the principal limit to be disbursed to the borrower.Click to continue

Reverse Mortgage Funding Names Richard Thorpe New Sales Channel Leader


Reverse Mortgage Funding LLC has announced the hiring of Richard Thorpe as its sales channel leader focused on distributed retail, one of several key channel strategies for the company this year. As he implements his strategy, Thorpe will report directly to Reverse Mortgage Funding President David Peskin.Click to continue

Jeffrey S. Taylor Joins ReverseVision's Board of Directors


ReverseVision announced that Jeffrey S. Taylor, master CMB has joined its board of directors. A career mortgage professional, Taylor is founder and president of Wendover Consulting, Inc., a leading reverse mortgage banking consulting firm. During his 35-year career, Taylor has been instrumental in forming retail loan origination, correspondent and wholesale lending and secondary marketing operations.Click to continue

Generation Mortgage Now Offering HECM Products in Texas


Generation Mortgage Company has announced that it is now offering Home Equity Conversion Mortgage (HECM) for purchase products in the state of Texas following the result of last fall’s ballot in which residents voted to pass a new constitutional amendment authorizing the sale of the product in the state.Click to continue

NRMLA's Northeast Regional Meeting to Focus on HECM


The National Reverse Mortgage Lenders Association (NRMLA) has announced the agenda for its Northeast Regional Meeting, set for March 18-19 in New York, N.Y. The meeting, dubbed “New HECM, New York,” will focus on improvements to the Home Equity Conversion Mortgage, or HECM, and highlight its use as a key financial planning tool for retirees. In July 2013, the U.S. Department of Housing & Urban Development (HUD) was authorized by Congress to establish additional requirements to improve “the fiscal safety and soundness” of the HECM program.Click to continue