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REO News

Friday Round-Up: A New Era, Reverse Mortgage Servicing Criticized
In case you missed it, here’s what happened in reverse mortgage news this week: CFPB Official: Reverse Mortgage Industry Needs to ‘Clean Up’ Servicing — While a certain amount of consumer confusion is to be expected with complex products like reverse mortgages, this confusion has been significantly worsened by poor loan servicing, a CFPB official told attendees […]

Reverse Mortgage Industry on the Cusp of a New Era
After several years of program changes, the reverse mortgage industry is facing its biggest change yet: the Financial Assessment. “We are on the cusp of entering a new era of the business” said Peter Bell, president and CEO of the National Reverse Mortgage Lenders Association during its eastern regional event in New York City. The […]

Consumer Demand Grows For Home Equity Lines of Credit
Home equity lines of credit (HELOC) are surging in popularity among consumers, a new analysis finds. “We now have seen HELOC origination growth in each of the past 13 quarters with annual growth of nearly 22% in both 2013 and 2014,” said Shaun Richardson, vice president of business Intelligence/technology, Icon Advisory Group, Ltd., in a […]

Reverse Mortgage Hires To Support Industry in New Chapter
As the Financial Assessment date nears, reverse mortgage companies are seeking top talent to join their team. During the National Reverse Mortgage Lenders Association’s recent eastern regional event in New York City, industry leaders agreed that the Financial Assessment, to go into effect April 27, presents a new chapter in the industry — and one that […]

Could Ocwen Be Delisted From the NYSE?
Amid ongoing troubles with Ocwen Financial Corporation (NYSE: OCN), the nonbank servicer now faces delisting from the New York Stock Exchange as a result of its failure to comply with continued listing standards.  Ocwen, the parent company of reverse mortgage lender Liberty Home Equity Solutions, recently received a deficiency letter from NYSE Regulation, Inc., indicating […]

The Best and Worst States for Retirement
It’s easy to associate retirement with traditional hotspots like Florida and Arizona, but retiring comfortably goes simply beyond enjoying the weather. When factoring in the cost of living, crime rate, health care quality, well-being along with weather, the best state for retirement is Wyoming, according to Bankrate’s annual Best and Worst States to Retire rankings. […]

Motley Fool: Does A Reverse Mortgage Make Sense?
It’s no secret that many Americans are financially unprepared for retirement. But a recent The Motley Fool article suggests that reverse mortgages can be an important fund-generating tool for many retirees.  “What’s so great about a reverse mortgage? Well, it can give you a bundle of money to live on in retirement,” writes Selena Maranjian. However, there […]

CFPB Official: Reverse Mortgage Industry Needs to ‘Clean Up’ Servicing
Loan servicing problems are contributing to “rampant” consumer confusion about reverse mortgages, and federal overseers are monitoring how the industry addresses these issues, officials with the Consumer Financial Protection Bureau said Tuesday. A certain amount of consumer confusion is to be expected with complex products like reverse mortgages, but this confusion has been significantly worsened […]