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REO News

FAR’s Norman Talks Present and Future of HECMs, Proprietary Loans
The reverse mortgage industry is approaching the one-year anniversary of last year’s principal limit factor reductions, which continue to have an effect on originations and the overall outlook for the space into the future. But 2018 has also been a year of innovation for lenders and originators, with a slew of new proprietary loans hitting […]

Social Security Changes Could Ease Financial Burden on Widows
To relieve some of the financial burden on widows, Social Security policy experts should looking to modernize the program by increasing the benefit dedicated to these surviving spouses, according to a new brief from the Center for Retirement Research at Boston College. The Social Security widows benefit has been in place since 1939, created during […]

Baseline Launches Daily Reverse Mortgage Index to Track Rates, Spreads
To help reverse mortgage professionals keep tabs on the market, analytics firm Baseline Reverse last week released a daily HECM index that tracks Home Equity Conversion Mortgage bond prices. Specifically, the index reflects “real-time HECM mortgage-backed securities (bond pricing) for a basket of 2017 PLF Annual LIBOR loans,” according to the company’s website. Baseline Reverse founder […]

Almost 30% of U.S. Households Have Just $1K Saved
Baby boomers and seniors who proactively set up retirement accounts have more than $100,000, on average, in savings than their peers who did not, according to a recent study by personal finance publication MagnifyMoney. But across the entire board, 29% of households have less than $1,000 saved in any type of account. Using data from […]

Silvernest Targets Senior Home-Sharing Market with $3M Cash Influx
As the aging population grows and seniors struggle with shrinking retirement benefits, home-sharing is gaining in popularity with baby boomers who want to bring in some extra income — and could emerge as an alternative to tapping into home equity. One company offering this service is the Denver-based Silvernest, which matches senior homeowners with renters […]

Merrill Lynch: Financial Planning Can Ease Burden for Widows
Although often avoided, planning for widowhood can be crucial in avoiding financial crisis if the unthinkable happens, recent research from Merrill Lynch suggests. To better understand how this life-changing event can affect a surviving spouse, Merrill Lynch partnered with Age Wave, an aging population research firm, for a report called “Widowhood: What to do when […]

California Poised to Take Center Stage in Private Reverse Mortgage Market
As new proprietary reverse mortgage products are teased and released, California sits as a prime potential market for borrowers looking for home equity-tapping options outside of the federal program. Favorable tax laws, high property values, and a large retiree population are a few reasons why jumbos could be poised to take off in the state. This […]

RiskSpan Adds Reverse Mortgage Data to Edge Platform
Home Equity Conversion Mortgage data has been added to the data libraries of RiskSpan, a leading provider of mortgage data analytics, the company announced Wednesday. The HECM addition includes more than half a billion records from Ginnie Mae, expanding the ways industry professionals can analyze reverse mortgage data. Available through RiskSpan’s Edge platform, the data will […]