Memorial Day Round-Up: CNN, Bloomberg Tout Reverse Mortgage Benefits

RMD will be observing Memorial Day on Monday, May 26, and would like to wish all of its readers a safe and enjoyable holiday weekend. We’ll see you back here on Tuesday, May 27.

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

CNN Money: Reverse Mortgages Poised to Be Mainstream Strategy—Changes to the Home Equity Conversion Mortgage program and an aging Baby Boomer population has some anticipating greater utilization of reverse mortgages as mainstream retirement strategies in the coming years.

Bloomberg: Reverse Mortgages a Boon for Boomers—Perceptions may be starting to change, particularly when taking the “longevity view” of reverse mortgages.

360 Mortgage Group Expands Reverse Mortgage Division With Retail Channel—Furthering its intention of becoming a top-3 reverse lender, 360 Mortgage Group this week expanded its manpower with the launch of a retail division.

Walter’s Green Tree Fails Mortgage Servicing Compliance Tests—Walter Investment Management Corp. (NYSE:WAC) subsidiary, Green Tree Servicing, was found to have failed eight compliance metrics under the National Mortgage Settlement this week. 

Management Shakeup at Ocwen Produces New CFO, CIO—Ocwen Financial Corporation (NYSE:OCN) reshuffled its executive personnel Tuesday, appointing new team members for chief financial officer and chief investment officer positions.

Written by Jason Oliva

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