Reverse

Retirement-aged homeowners saw a combined 2.8 percent increase of $170.7 billion in home equity during the fourth quarter of 2016
Retirement-aged homeowners saw a combined 2.8 percent increase of $170.7 billion in home equity during the fourth quarter of 2016, which increased their total housing wealth to $6.2 trillion, according to new data from the National Reverse Mortgage Lenders Association (NRMLA).   During the fourth... Keep Reading....
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
New Jersey’s Bergen County is providing $20,000 to its Division of Senior Services for legal referrals to assist low-income seniors who have defaulted on their reverse mortgages
New Jersey’s Bergen County is providing $20,000 to its Division of Senior Services for legal referrals to assist low-income seniors who have defaulted on their reverse mortgages. According to an NJ.com report, this new funding will be used by the division's Home Equity Conversion Mortgage (HECM)... more