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Most Senior Debt Tied to Housing Expenses
Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com
Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com.   More than half of Americans who are 55 or over are in debt, with 40 percent owing $50,000 or more to creditors. Fifty-two... Keep Reading....
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Orange, Calif.-based All Reverse Mortgage has introduced ARLO, a loan optimizer tool for the reverse mortgage market
 Orange, Calif.-based All Reverse Mortgage has introduced ARLO, a loan optimizer tool for the reverse mortgage market.   According to the company, this Web-based consumer pricing engine allows a prospective borrower to receive quotes on a different reverse mortgage plans, including interest rates... more
ReverseVision has announced the availability of DataVerify’s DRIVE verification platform within ReverseVision’s flagship RV Exchange (RVX) loan origination system (LOS)
 ReverseVision has forged a partnership with Premier Reverse Closings (PRC), a title and settlement firm specializing in reverse mortgage closings. A new integration between the companies’ software allows users of ReverseVision’s flagship RV Exchange (RVX) loan origination system (LOS) to order... more
The Consumer Services Division of the Washington State Department of Financial Institutions (DFI) has charged Irvine, Calif.-based HighTechLending with using misleading and false advertising to target seniors age 62 and older with reverse mortgage offers. The DFI is seeking a final order requiring... more
The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) have announced $43 million to 325 local public housing agencies (PHAs) across the country
CIT Group Inc. is exiting the reverse mortgage market by selling its Financial Freedom unit and reverse mortgage portfolio to an undisclosed buyer.   Financial Freedom became part of CIT Group when the latter acquired OneWest Bank in August 2015. The deal covers Financial Freedom’s mortgage... more

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