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REO News

These Cities Had the Highest Reverse Mortgage Growth in August
While the reverse mortgage industry waits to feel the true effect of the Financial Assessment on endorsements, August pushed volume levels to new highs not seen in two years. And some areas saw bigger gains than others. As an industry, Home Equity Conversion Mortgage (HECM) endorsements grew 14.3% to 5,750 loans in August compared to […]

WSJ: Reverse Mortgage Can Help Buffer Against Market Swings
Reverse mortgages have a place in the conversation about retirement and market swings, prompted by the recent global selloff resulting from Chinese currency pressures. At least, that’s the message presented by Prof. Wade Pfau, of American College of Financial Services in Bryn Mawr, Pa., who was interviewed by the Wall Street Journal this week.  Buying into […]

Mortgage Industry Says CFPB Complaint Process Needs to Change
Following the launch of a complaint database managed by the Consumer Financial Protection Bureau (CFPB), mortgage industry players are seeking some changes to the way complaints are collected and displayed to the public.  The complaint database has been met with much opposition among businesses and political leaders since its inception, most recently for the way in […]

As Labor Day Nears, Reverse Mortgage Jobs in High Demand
Monday is Labor Day, a national holiday to celebrate the contributions American workers have made to economic strength, prosperity and well-being of our nation. As the extended holiday weekend nears, reverse mortgage lenders are also looking to celebrate and add to the strengths of their own workforces with a variety of job offerings. This week’s […]

Reverse Mortgage Volume Riding High Pre-Financial Assessment Fallout
Home Equity Conversion Mortgage (HECM) endorsement volumes in August continued to ride high on the pre-Financial Assessment rush from borrowers, which pushed industry volume to its highest level seen in more than two years, according to the latest data tracked by Reverse Market Insight (RMI). The boost in endorsements, propelled by the number of borrowers […]

ABC Arizona: Reverse Mortgages Right for Some, Not Everyone
When budgets tighten during retirement years, it helps to find “unique places” to get more money. For some retirees, a reverse mortgage can be a helpful solution, according to a recent ABC-15 Arizona news story. Appearing on the Financial Fitness Zone portion of the ABC-15 Morning News this week, reverse mortgages took the spotlight for […]

Home Prices See Continued Rise, Expected into 2016
Home sales and home prices ticked up in July, representing a near-7% increase year-over-year for the nationwide housing recovery. The recovery varied state by state, but averaged a 6.9% increase overall, according to monthly findings by real estate researcher CoreLogic. “Home sales continued their brisk rebound in July and home prices reflected that, up 6.9% […]

How Wholesale Reverse Mortgage Lenders Help Brokers Adjust to FA
As the dust settles following June’s surging month for reverse mortgage endorsement volume and the industry moves further into the Financial Assessment landscape, wholesale lenders are taking several initiatives to help their broker partners better adjust to the new guidelines. Endorsements for Home Equity Conversion Mortgages (HECMs) rose 24% in June, boosted by heightened application […]