Reverse

Mortgage originations are expected to top $2 trillion this year, according to the latest Monthly Outlook Report issued by Freddie Mac
The National Reverse Mortgage Lenders Association (NRMLA) has reported that homeowners aged 62 and older saw an overall 2.6 percent increase of $152 billion in senior home equity in the third quarter of the year, bringing the total to $6.1 trillion. The gains, largely driven by a 2.3 percent... Keep Reading....
In a data analysis that will certain create agita among reverse mortgage providers, U.S. seniors are overwhelmingly apathetic and confused about the value of reverse mortgages. This rejection of reverse mortgages is based on a survey conducted by the American College of Financial Services that... more
ReverseVision has announced that Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS)
ReverseVision has announced that Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS). Open Mortgage has been a home-equity conversion mortgage (HECM) retail lender since 2010, originating its... more
The Federal Housing Administration (FHA) is proposing a new rule that it claims will strengthen its Home Equity Conversion Mortgage (HECM) program
The Federal Housing Administration (FHA) is proposing a new rule that it claims will strengthen its Home Equity Conversion Mortgage (HECM) program.  The proposed rule includes changes and consumer protections designed to help ensure senior borrowers are sustained in their homes. These new changes... more
A 95-year-old woman is suing a pair of reverse mortgage companies for levying excessive fees on her after her home fell into foreclosure
A 95-year-old woman is suing a pair of reverse mortgage companies for levying excessive fees on her after her home fell into foreclosure. According to a report from The Eye, Retha Floyd of Washington, D.C., faced foreclosure in 2012 after falling behind on less than $2,000 in property taxes and... more