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REO News

Wholesale Reverse Mortgage Channel Hit Hard in December

Largely echoing previous numbers among government-approved lenders, Home Equity Conversion Mortgage (HECM) endorsements continued to drop in December, with total endorsements falling 31.4 percent to a total of 1,749 loans, according to the latest data from Reverse Market Insight (RMI). The HECM Originators report for December 2018 shows the losses afflicted on both retail and […]

The post Wholesale Reverse Mortgage Channel Hit Hard in December appeared first on Reverse Mortgage Daily.


Originators Point to Reverse Mortgage Safety vs. New Alternatives

As more alternative home equity tapping tools like sale leasebacks and shared equity products begin to enter conversations about retirement, more traditional reverse mortgage products are finding themselves in a more competitive environment. Originators don’t tend to see these products as threatening, but more traditional reverse mortgages may have another key advantage: borrower safety. The […]

The post Originators Point to Reverse Mortgage Safety vs. New Alternatives appeared first on Reverse Mortgage Daily.


Ditech Secures Financing for RMS During Restructuring

Reverse Mortgage Solutions (RMS) will continue its operations during its bankruptcy proceedings due to financing secured by its parent company, Ditech Holding Corporation, according to a new 8-K filing by Ditech with the Securities and Exchange Commission (SEC). According to the filing, the bankruptcy court approved an order for Ditech’s debtor-in-possession (DIP) facilities, allowing Ditech […]

The post Ditech Secures Financing for RMS During Restructuring appeared first on Reverse Mortgage Daily.


Top Tips for Reverse Mortgage LOs Targeting Financial Planners

Reverse mortgage professionals may slowly be making inroads with financial planning contacts, but the industry agrees there’s still work to be done. Toward that end, there are several best practices originators can rely on to help forge relationships with financial planners, says one planner who is knowledgeable about the reverse mortgage product and is supportive […]

The post Top Tips for Reverse Mortgage LOs Targeting Financial Planners appeared first on Reverse Mortgage Daily.


Forbes: Forward vs. Reverse Mortgages in Retirement

Using a reverse mortgage to refinance an existing mortgage will create more financial flexibility for fixed-income retirees, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a member of the Funding Longevity Task Force, in a new piece at Forbes. “The general idea is that a reverse […]

The post Forbes: Forward vs. Reverse Mortgages in Retirement appeared first on Reverse Mortgage Daily.


The Eroding Barriers Between Forward and Reverse Mortgage Originators

As more reverse mortgage companies continue to expand their operations into the forward space in response to business changes and new realities, a shift appears to be taking place in what was once seen as conventional wisdom: the separation of forward and reverse mortgage business practices, in order for originators to remain specialized in one […]

The post The Eroding Barriers Between Forward and Reverse Mortgage Originators appeared first on Reverse Mortgage Daily.


Financial Wellness High on Boomer Bucket Lists

95 percent of surveyed Americans revealed that they have some kind of list of financial goals and other experiences they wish to have before passing on, otherwise known as a “bucket list.” 66 percent of respondents have something on that list that they plan to accomplish within the next year of their lives, and 21 […]

The post Financial Wellness High on Boomer Bucket Lists appeared first on Reverse Mortgage Daily.


HighTechLending Aims to Build on January Volume Spike

While most lenders saw reverse mortgage volume fall in January, one among the top-10 saw a notable increase in closings. As noted in Department of Housing and Urban Development data released in January and analyzed by Reverse Market Insight (RMI) earlier this month, HighTechLending (HTL) saw a notable 513 percent jump to 49 loans, an […]

The post HighTechLending Aims to Build on January Volume Spike appeared first on Reverse Mortgage Daily.


Going Broke Remains a Top Concern in Retirement

Running out of money in retirement remains a primary concern for those planning their transition out of work, with other major concerns being maintaining their lifestyle and the rising costs of healthcare expenses. This is according to the American Institute of CPAs (AICPA) and its Personal Financial Planning Trends Survey. Exhausting their money is the […]

The post Going Broke Remains a Top Concern in Retirement appeared first on Reverse Mortgage Daily.


HECM Financial Assessment Streamlined With FHA Policy Shift

The Federal Housing Administration (FHA) has issued a new mortgagee letter offering policy guidance on practices concerning the use of Third Party Verification (TPV) services as an alternative for authenticating employment, income or assets of potential borrowers. In Mortgagee Letter 19-01, released by the agency on Friday, FHA revises documentation requirements for the financial assessment […]

The post HECM Financial Assessment Streamlined With FHA Policy Shift appeared first on Reverse Mortgage Daily.