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REO News

Building a Case for Forward Lenders to Embrace Reverse
A major forward-mortgage consulting firm recently took a deep look into the potential diversification through reverse products — and ended up wondering what top players are waiting for. Much like Home Equity Conversion Mortgage originators, forward players are struggling, according to the report from the Greenwood Village, Colo.-based STRATMOR Group: With fixed interest rates on […]

Reverse Mortgage Must-Reads: New Software, Carson Investigation
In case you missed them the first time around, kick off your week with the biggest stories from the week that was in the world of reverse mortgages.  ReverseVision Founder to Launch New Reverse Mortgage Software Platform — Two of the people who were instrumental to the development and marketing of the ReverseVision software platform announced plans […]

Counselors See Changes in Motives of Reverse Mortgage Borrowers
As reverse mortgage counselors adapt to shifting levels of volume since the October rule changes, they are also adjusting to the types of borrowers seeking counseling. For the first two to three months after the lower principal limit factors took effect, Cambridge Credit Counseling Corp. saw more needs-based inquiries nationwide, but that is changing, said […]

Reverse Mortgage Endorsements Began to Slip in December
Overall reverse mortgage endorsements slid slightly in December, driven primarily by sluggish wholesale performance.  Home Equity Conversion Mortgage originators generated 4,747 loans in the final month of 2017, according to the most recent data from Reverse Market Insight. That figure, 0.7% dip from November, includes lenders approved by the Federal Housing Administration and non-approved firms. […]

Why Forward Lenders Aren’t Offering Reverse Mortgages
There are several concerns among lenders when it comes to the decision to offer reverse mortgages, new research from the STRATMOR Group finds. In survey results presented earlier this month at ReverseVision’s UserCon in San Diego, a number of forward mortgage lenders ranked four primary reasons why their companies do not offer reverse mortgages. Reputation […]

RMS President Promoted to Interim CEO of Ditech
The current president of Reverse Mortgage Solutions will now serve as its parent company’s interim CEO and president. Ditech Holding Corporation (NYSE: DHCP) — until early this month known as Walter Investment Management Corporation — this week announced the promotion of Jeffrey Baker to the top spot. His predecessor, Anthony Renzi, departed the company shortly […]

Nationwide Equities Rebrands Reverse Mortgage Offering
Nationwide Equities’ retail reverse mortgage offering has a new name. Starting this week, the Mahwah, N.J.-based lender will offer Home Equity Conversion Mortgage products to consumers under the name Reverse Loans USA.  “The only reason we’re doing a name change is to identify concisely and without question what we’re selling,” Nationwide CEO Paul Lamparillo told […]

Tomorrow’s Retirees Face Shortfalls, But Reluctant to Explore HECMs
Many studies have explored the ways in which current seniors find themselves ill-prepared for their retirement years, but a new analysis from Boston College finds that the picture looks even bleaker for future generations. The vast majority of households aged 65 and older reported not having to make financial cutbacks when faced with two key […]