What’s the latest market for reverse mortgages? Believe it or not, it’s Peru.
According a report in BNAmericas, Peru's finance ministry introduced secondary legislation that defines the basic tenets of the country's new reverse mortgage law. This legislation will cover the rights and responsibilities of lenders and borrowers, and states that borrowers have the right to make early repayments and their heirs can pay off the loan when the borrower dies. The borrower will also be required to take out an all-risk insurance policy on the property.
"The use of this tool will have a positive impact on the formal loan sphere in Peru, since more sources of credit will open up, allowing for more people to access the financial system," the ministry said in a statement.
With upward revisions for May & June as well, there's no sign the jobs market is slowing.
If the U.S. economy is in a recession, someone forgot to tell the jobs market.
According to the latest report from the U.S. Bureau of Labor Statistics, the U.S. added a staggering 528,000 jobs in July. That’s more than double economists’ estimates and nearly 15% above the a...
Company officials said that in the third quarter they expect total revenue between $590 million and $627 million.
Technology-powered real estate company Redfin Corp. announced its second quarter earnings Thursday after the close of the stock market.
The company, which laid off about 6% of it’s workforce in June due to a downturn in home purchases as interest rates increased at the fast...
Constellation Mortgage Solutions Inc. announced the acquisition of ReverseVision, Inc., a home equity conversion mortgage and private reverse mortgage sales origination software company.
The Steven J. Sless Group of Primary Residential Mortgage named Greg Pahel as retail production manager, overseeing consumer direct reverse mortgage production.