Friday Round Up: New Urban Product, 360 Mortgage Enters Reverse Space

In case you missed it… here’s what happened in reverse mortgage news this week.

A top reverse mortgage lender added a new HECM offering. Urban Financial is now offering a new, fixed-rate reverse mortgage with all payment plan options available to borrowers, called the Flexible Fixed HECM.

The CFPB was put on blast for disparate employee ratings. The Consumer Financial Protection Bureau might need to revise its practices for staff rating after data uncovered disparate reviews among white and minority employees. 

Financial advisors and reverse mortgages have a beautiful friendship ahead. A new study suggests reverse mortgages will play a critical role in retirement planning in upcoming years—especially for those impacted by the Great Recession. 

Kiplinger outlined whats reverse mortgage heirs should know. A recent article delves into what heirs of reverse mortgage borrowers should be aware of, including when and how loans need to be paid off. 

360 Mortgage Group entered reverse mortgage space through partnership. The mortgage banker hired Mike Suits and partnered with loan origination platform ReverseVision with plans for retail, wholesale, and correspondent lending channels. 

Written by Alyssa Gerace

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