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REO Management Solutions, LLC was recently acquired by PHH Mortgage Corporation (PHH) as part of an asset purchase transaction entered into with Reverse Mortgage Solutions, Inc (RMS). For over 30 years, PHH Mortgage has provided industry-leading mortgage services and helped countless homebuyers and homeowners find financing solutions to meet their needs. For more information, please visit https://www.phhmortgage.com/.

REO News

FAR Launches Borrower Engagement Division, Expands Personal Support for Reverse Mortgage Borrowers
FAR announced the launch of a new borrower engagement division for its proprietary reverse mortgage borrowers, which will provide personalized attention to those needing extra help with their servicing issues.

Consumer Reports: Reverse Mortgages Can be ‘Safe’ Way to Tap Home Equity, With Caveats
Consumer Reports published a new piece saying that while reverse mortgages can be a safe way to tap a home's equity for some borrowers, caveats remain that should be kept in mind.

RMF Hires Mills to Lead Channel Connecting LOs and Financial Planners
RMF has hired Christian Mills to lead its financial planner channel, calling on 25 years of experience to bolster the company's LOs connections with planners and advisors.

AAG Survey: 92% of Seniors Want to Age in Place, Majority See the Home as ‘Most Valuable Asset’
A new AAG survey reveals the overwhelming preference of American seniors to remain in their homes as they age, though willingness to tap home equity is not as high.

Report: Global Reverse Mortgage Market Trends Positively
An analysis of reverse mortgage trends in the UK and Europe shares some interesting similarities with the American market, potentially providing a new educational path for the industry.

Forbes: Current Interest Rates May Increase Reverse Mortgage Engagement
The current interest rate environment might make reverse mortgages more attractive to American seniors, but the power of old stigmas runs deep according to a new Forbes/NextAvenue column.

Reverse Mortgage Refinances Remain Near 50% of Volume in August
Reverse mortgage refinance volume remains at nearly 50% of total endorsements, a trend that some have found alarming.

Senior FHA Official to Headline Reverse Mortgage Trade Association Meeting
A senior FHA official who oversees the HECM program will be delivering a keynote address to reverse mortgage professionals at an upcoming trade association virtual conference.

Senior Housing Wealth Tops $9.5 Trillion for First Time
Collective senior housing wealth in the United States has reached another all-time high, giving another look at the potential power of its use in retirement.

AAG Rolls Out Expansive New Marketing Campaign Featuring Borrowers, Selleck
AAG announced this week the roll-out of an expansive, emotionally-driven testimonial-based marketing campaign, featuring both genuine clients and longtime spokesman Tom Selleck.