Account Login
Unknown browser not supported

REO News

New Homes, Retirement Savings: Originators Share HECM Success Stories
Despite industry concerns about lower endorsement volumes and constrained principal limits, reverse mortgage originators continue to see success stories on the ground level. Kathy Collins, a branch manager at UMAX Mortgage in Carlsbad, Calif., recently assisted a couple who opened a Home Equity Conversion Mortgage to fund their grandson’s education. “I presented them with what […]

Half of Older Adults Say They’re ‘Chasing’ a Solid Retirement Plan Without Success
Yet another survey of American retirement savers has revealed that a significant chunk of people don’t feel comfortable with the amount of money they’ve already stockpiled — with about half feeling as though they’re chasing a retirement dream that may have already left them behind. In a recent poll of adults aged 45 to 65 […]

Reverse Mortgage Borrower Motives Expand as Education Spreads
As the industry continues to adapt to a new landscape of lower principal limit factors, reverse mortgage experts say it’s key to remember why most borrowers pursue the products in the first place — and how those motives have changed amid greater education and positive news coverage. Traditionally, homeowners take out reverse mortgages to gain […]

Rising Interest Rates Prompting Homeowners to Stay in Place
The Great Recession still looms large in the housing market, as homeowners who took advantage of low interest rates at the beginning of the decade are increasingly electing to stay in their properties instead of trading up. “Although homeowners have more equity today, most of them also have ultra-low-rate mortgages they locked in during the […]

Reverse Mortgage Originators Step Up for Borrowers Long After the Loans Close
Few originators’ duties are complete after a client’s reverse mortgage has been closed. For many borrowers, these reverse mortgage specialists continue to be the first point of contact when assistance is needed with their loan. Although some borrowers have general questions, servicing issues are often the reason why an originator hears from a borrower again. […]

Forbes Recommends Shopping Around for Reverse Mortgages
In a wide-ranging dive into the pros and cons of taking out reverse mortgages, Forbes this week advised consumers to shop around. “Ideally, you’ll want to get at least three quotes,” financial planner and Forbes contributor David Rae wrote. “Make sure each proposed reverse mortgage shows a selection of margins and also illustrates how your […]

Reverse Mortgage Solutions Records $29.6M Loss as Ginnie Mae Buyouts Rise
Reverse Mortgage Solutions recorded $29.6 million in pre-tax losses during the second quarter of 2018, with management at its parent company in part blaming high costs associated with Ginnie Mae buyouts. In addition to elevated fair value losses, Ditech Holding Corporation (NYSE: DHCP) pointed to an extra $9.7 million in borrowing costs related to mandatory […]

China Pushes Reverse Mortgages as Demographic Peril Looms
As China faces the familiar demographic math problem causing economic headaches in countries around the world, the nation’s government has decided to expand its reverse mortgage program. The China Banking Regulatory Commission last week made reverse mortgages available to all homeowners aged 60 and older, according to a report from Sixth Tone, an online publication […]