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REO News

Holiday Weekend Round-Up: H4P Resources, RMF’s New Ad
Stories about the industry’s reaction to the changing reverse mortgage consumer captured RMD readers’ attention this week, with an all-in-one guide to HECM for purchase leading a pack that also included an analysis of Reverse Mortgage Funding’s new pitch to potential borrowers and a look at how originators have won over financial advisors with pure […]

Second Annual ReverseVision Event Attracts New Reverse Mortgage Blood
Mortgage professionals new to the industry are exploring the ins and outs of reverse mortgages, as shown through the attendance at a growing industry event held in San Diego last week. A year following its inaugural UserCon in January 2016, reverse mortgage industry software provider ReverseVision held its second annual conference last week, drawing a larger […]

Maine Gov. Touts Reverse Mortgages in New Legislation
Reverse mortgages could become a central part of Maine’s foreclosure law if the governor has his way. Under new legislation proposed by Gov. Paul LePage, a Republican, any town considering foreclosure on a home due to unpaid taxes would have to first inform the residents of several potential relief options, including a home equity conversion […]

RMD Job Board: See Who’s Hiring to Grow Their Business
Each week, RMD compiles all of the jobs posted on the Reverse Mortgage Daily Job Board in the one spot where more than 7,000 daily subscribers in the industry can see it. This week, new positions from Professional Mortgage Alliance, Reverse Mortgage Funding, and HighTechLending join RMD’s list of jobs at reverse mortgage firms around the country. […]

RMF Uses “Unconventional” Message to Reach New Audience
Often featuring celebrity spokesmen who deliver messages geared toward needs-based borrowers, ads for reverse mortgages tend to follow a familiar script. But Reverse Mortgage Funding has taken an “unconventional” approach with its latest campaign, focusing on the reverse mortgage as an alternative to traditional home equity lines of credit. In the process, RMF says it’s […]

Industry Vet Suits Joins Federal Savings Bank
Mike Suits, a mortgage veteran who has spent more than 15 years in the marketplace, joined The Federal Savings Bank as a senior vice president of home equity conversion mortgages, the Chicago-based bank announced yesterday. Suits will lead Federal Savings’ reverse mortgage retail team in Austin, Texas, overseeing the bank’s planned growth in the region […]

Data Key to Financial Planners’ Reverse Mortgage Perceptions
Originators and other players in the reverse mortgage space say that challenges remain when convincing financial planners and other retirement experts that reverse mortgages are a good idea for some borrowers, but a solid education can be the best cure for skepticism — and positive thinking about the products is gaining traction. Shelley Giordano, chair […]

Reverse Mortgage Originators Clocked Strong Finish to 2016
Despite persistent concerns about a downturn in the reverse mortgage industry, home equity conversion endorsements jumped nearly 20 percent in December 2016 as compared to the previous month, according to new data released today by Reverse Market Insight, Inc. The Dana Point, Calif.-based research firm reported a 22.5 percent gain in retail endorsements and a […]