Today we are thrilled to announce that HW Media has acquired Reverse Mortgage Daily (RMD) – the reverse mortgage industry’s premier independent source for news, commentary and analysis.
Since RMD was founded by Aging Media Network President John Yedinak in 2007, the publication has focused on being an industry-led news source, offering a down-to-earth, personal and independent perspective on reverse mortgages. The values and strategy fostered by RMD’s founders and team align perfectly with HW Media’s values and strategy. RMD will continue to be an industry-led news source, and its readers will benefit from the resources and housing industry lens of HW Media. The HW Media and HousingWire team is thrilled to work with RMD Editor Chris Clow to bring this strategy to life.
Prior to the acquisition, RMD was owned and operated by Aging Media Network, Inc.
“I’m excited about RMD’s future in the hands of HW Media and am confident they have the resources and drive to take it to the next level,” said John Yedinak, founder of Reverse Mortgage Daily.
In building HW Media, part of my job is recruiting and empowering the best business media professionals out there to cover news, create content and serve our audiences and clients. Another equally important priority is having a point of view on where the housing and financial services markets are headed and ensuring that we’re strategically moving in the right direction. A trend that can’t be ignored is our aging population and the impact on the housing market.
Over the next 20 years, the percentage of Americans over the age of 65 is anticipated to expand from less than 15% to over 20% of the population. But this growing demographic has a problem – retirement wealth for “younger baby boomer” cohorts that saved in 401Ks and IRAs is notably lower than for early-Boomers who saved for retirement through defined benefit plans.
According to the Urban Institute, the homeownership rate for seniors ages 65 and older is close to 80%. With underfunded retirement savings vehicles, home equity may prove to be one of the most important financial assets for funding a comfortable retirement. My view is that HECM products will continue to grow in importance as a critical home equity extraction vehicle for our aging population of homeowners.
The combination of RMD and HW Media will not only support RMD’s continued independent coverage of the reverse mortgage market for reverse mortgage professionals, but will also support the expansion of this knowledge across HW’s broad audience of forward mortgage and real estate professionals.
If you are interested in learning more about RMD, please check the Reverse Mortgage Daily website and follow the daily newsletter. We’ll have more updates and announcements in the coming months on RMD’s integration into HW Media and exciting events and content launches.
As we look to the future, the HW Media strategy will continue to be to acquire, operate and grow amazing media and content brands in the real estate, housing finance and financial services verticals. We seek to support and magnify the voice of any media brand that joins us – and to provide resources to help them grow faster with expanded ambitions. We’ll accelerate business progress and capabilities by providing administrative support, new product capabilities and increased distribution across our network.
We’ve spent the last five years building our diversified revenue model, technology platform and world-class business media team. This work and learning will benefit the new media brands that join us, and we will also learn and grow stronger from their expertise and knowledge. We believe we’re building a platform that will influence and define the future for business media.