MortgageReverse

Friday Round-Up: RMF Launches New Reverse Mortgage, April Volume Slumps

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

Reverse Mortgage Success Falls on Training in Wake of Change—Even amid various reverse mortgage changes, the key to success for one top-10 lender comes down to one thing: training.

Reverse Mortgage Volume Slumps to 12-Month Low as AAG Bucks Trend—Reverse mortgage volume reaches its lowest level in the past twelve months in April, however, some top-10 lenders weathered the decline with notable growth.

The Federal Savings Bank Signs with ReverseVision for Reverse Mortgage Ramp-Up—Chicago-based The Federal Savings Bank is targeting reverse mortgage growth and teamed up with ReverseVision this week for its origination software system.

Reverse Mortgage Funding Launches New Adjustable Rate Reverse Mortgage—The newest product from RMF is the HECM MAX5, a monthly adjustable-rate reverse mortgage that reduces the lifetime interest rate cap to 5% over the initial rate.

CFPB Releases Senior Mortgage Debt Report—A new “snapshot report” from the Consumer Financial Protection Bureau notes that older adults face an array of challenges, including mortgage debt, less affordable housing and increased risk of foreclosure.

Written by Jason Oliva

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