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REO News

Friday Round-Up: Financial Assessment Tips, Reverse Mortgages Get Tough
In case you missed it, here’s what happened in reverse mortgage news this week: 7 Reverse Mortgage Financial Assessment Tips for Originators—RMD spoke with several reverse mortgage originators who shared tips based on their successes under the Financial Assessment. See what they had to say. Congresswoman Wants More Relief for Reverse Mortgage Non-Borrowing Spouses—Ranking Member […]

5 Ways Reverse Mortgages Can Serve as Retirement Planning Tools
In today’s world, Americans face a looming retirement crisis — one that has been well-documented over the past several years and which has created a new purpose for the reverse mortgage.  Gone are the days when reverse mortgages were considered a loan of last resort. Now, the product is gaining steam among financial planners as […]

Illinois Reverse Mortgage Bill Stalls Following Senate Passage
A proposed bill that would create more protections for reverse mortgage borrowers in Illinois appears to have stalled in the state legislature following a Senate passage just weeks ago. The Reverse Mortgage Act, or SB1281, passed through the Illinois Senate April 29, having undergone three readings before its arrival in the state’s House of Representatives […]

Moody’s Outlook On Reverse Mortgages Changes With New Rating System
Moody’s Investors Service is taking a new approach to rating home equity conversion mortgages (HECMs) in line with recent actions taken on $4.5 billion of reverse mortgage bonds issued between 2005 and 2008. Moody’s has downgraded 13 securities from 10 deals backed by HECM, Moody’s announced Wednesday. Moody’s also downgraded six HECM reverse mortgage backed […]

Reverse Mortgage Jobs Available Nationwide — Apply Today
Halfway through 2015, reverse mortgage lenders are still searching for fresh new talent to join their growing companies.  Job opportunities abound nationwide — from California to New York. Positions include wholesale account executives, loan processors, loan officers and many more.  Reverse Mortgage Funding, Yadkin Bank, HighTechLending and Urban Financial of America are among the lenders […]

Congresswoman Wants More Relief for Reverse Mortgage Non-Borrowing Spouses
Congresswoman Maxine Waters (D-CA) is calling for the Department of Housing and Urban Development (HUD) to provide increased transparency for seniors participating in the Home Equity Conversion Mortgage (HECM) program, particularly on the issue of non-borrowing spouses. In a letter sent to HUD Secretary Julián Castro, Waters expressed concern that many seniors are facing foreclosure, or […]

Reverse Mortgage Volume Decline Shows Uneven Spread Nationwide
Reverse mortgage volume dropped -1.7% in March, but that volume decline was spread unevenly throughout the country, as some regions fared better than others, according to the latest Reverse Market Insight (RMI) report.  “The regions faring best of late have been those with one or both of these themes: faster home price rises than national […]

iReverse Expands, Welcomes Reverse Mortgage Veteran
iReverse Home Loans is welcoming a new national senior loan consultant to help expand its reach in San Diego County, the company recently announced. Laura Strickler has 27 years of experience in the mortgage industry, and was previously affiliated with Bank of America and Wells Fargo. Strickler has specialized in helping seniors navigate the reverse mortgage […]