Account Login
Unknown browser not supported

REO News

BNY Mellon Launches Reverse Mortgage Operations
After announcing it was getting into the reverse mortgage business last year, Bank of New York Mellon is making good on its promise to start participating in the market. Though the large, New York-based bank and investment management advisor will not originate loans, the company will utilize its access to financial planners and other professionals to spread […]

Average Retirement Age Ticks Up, But Not Much
Retirement has changed considerably since the 1960s, especially when it comes to the reasons for retiring and the age at which to stop participating in the labor force.  But now, as the average retirement age begins to level off, this is suggesting that earlier drivers of working longer are no longer having a substantial impact […]

Kiplinger: Reverse Mortgage ‘Test’ Awaits Prospective Borrowers
In some ways, the reverse mortgage has become synonymous with retirement, as financial experts ditch the “loan of last resort” mantra that long defined the financial product, in favor of a more positive description: retirement planning tool.  And recently, the product — and its upcoming Financial Assessment — has been featured in a number of […]

February’s Reverse Mortgage Volume Dips 4%, Maverick Funding Bucks Trend
With just two months in the books for 2015, reverse mortgage volume has dipped from its flat start to the year to a slight decline in February, according to the latest data from Reverse Market Insight (RMI). Home Equity Conversion Mortgage (HECM) endorsements hiccuped 0.1% in January from the prior month, before falling 4% in […]

Open Mortgage Expands Retail Reverse Operations With New Hire
As Open Mortgage continues to increase its national presence, the Austin, Texas-based retail, wholesale and correspondent lender has hired JoAnna Bignell to lead the company’s recruiting efforts in the retail reverse mortgage space. “What I really want to see with JoAnna’s hire is that our reverse retail division continues to evolve and expand as we […]

Older Households Account For 40% of United States’ Home Equity
The majority of Americans 65 and older — four out of five — are homeowners, and few need to worry about making mortgage payments, according to a new Merrill Lynch retirement study conducted in partnership with Age Wave.  The findings are based on a survey of more than 3,600 respondents nationwide. More than seven in […]

Conn. Lawmakers Consider New Reverse Mortgage Counseling Requirements
The National Reverse Mortgage Lenders Association (NRMLA) is working with legislators in Connecticut to address concerns regarding a bill that would mandate in-person counseling, the association announced Friday. Connecticut legislators are considering a bill (HB 5651) that would mandate face-to-face counseling and implement a seven-day cooling off period between the completion of counseling and the completion of a […]

Ginnie Mae Launches New Issuer Performance Measurement Tool
Ginnie Mae, the sole securitizer of home equity conversion mortgages (HECMs), has announced the launch of a risk management tool that will allow issuers to measure their performance against both program standards and peers. Single-family, multifamily and HECM-backed securities (HMBS) issuers will have access to the tool, called the Issuer Operational Performance Profile (IOPP), which […]