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Reverse Mortgage Daily

Seniors' Financial Confidence Reaches New Heights in 2014

Seniors’ financial confidence is on the rise compared to previous years, but many say true happiness lies elsewhere, suggests the latest United States of Aging Survey.

HUD Reminds Lenders of Reverse Mortgage Changes Coming Aug. 4

Changes to the principal limit factors (PLFs) for reverse mortgages and policies regarding non-borrowing spouse scenarios go into effect Aug. 4, the Federal Housing Administration (FHA) is reminding lenders.

CFPB Proposes Changes to HMDA, Wants More Mortgage Info on Reverse Mortgages

In an effort it says will improve the information reporting process across the residential mortgage market, the Consumer Financial Protection Bureau today announced it is proposing changes to the Home Mortgage Disclosure Act—the rule that governs all mortgage disclosures that are mandated during home loan transactions.

Small Banks Take Issue with CFPB Over Qualified Mortgage Rules

Nearly 50 community banks are asking the Consumer Financial Protection Bureau (CFPB) to revise lending rules for higher-priced loans, charging that current exceptions in the rules for small creditors are not broad enough and negatively impact those wanting to grow their mortgage business.

Column: Reverse Mortgage a Good Option if Borrower Isn't 'Dead Broke'

For healthy and financially stable adults, reverse mortgages can be an effective retirement planning tool, writes syndicated columnist Scott Burns. 

NAR: FHA Premium-Reducing Program Needs Work

While the Federal Housing Administration’s Homeowners Armed with Knowledge (HAWK) pilot program is a good start to reducing high mortgage insurance premiums, the National Association of Realtors says the agency still has more work to do. 

Do Not Use These Words in Reverse Mortgage Marketing

Geezer. Old-timer. Golden Years. Those terms topped the list of the most despised words used to describe the elderly and aging and should be avoided in reverse mortgage marketing, according to a poll by National Public Radio (NPR).

Homeowners Gain Comfort in Borrowing Home Equity

A rebounding economy, increases in home values and lower interest rates have again given rise to the popularity of home equity lines of credit (HELOCs), The Wall Street Journal reports. 

CFPB Clarifies Rules For Lending To Same-Sex Married Couples

The Consumer Financial Protection Bureau (CFPB) clarified its rules regarding lending to same sex, married couples.

Home Sales Surge 18.6%, Healthy Housing Rebound Underway

Double-digit gains in home sales, declining foreclosures and strong home equity growth in May are signaling a healthy housing recovery is underway, according to the June edition of the Obama Administration’s Housing Scorecard.