Reverse Mortgage Must-Reads: New Software, Carson Investigation

In case you missed them the first time around, kick off your week with the biggest stories from the week that was in the world of reverse mortgages. 

ReverseVision Founder to Launch New Reverse Mortgage Software Platform — Two of the people who were instrumental to the development and marketing of the ReverseVision software platform announced plans to roll out a new product. Though the release date won’t come until the first quarter of 2019, the pair tells RMD that they’ve already built the core infrastructure for the platform.

Washington Post Explores the Reverse Mortgage as Divorce Solution — A nationally syndicated financial and legal advice columnist suggested that a divorcing older couple can solve each other’s housing problems with a reverse mortgage — assuming, of course, that they can both agree on how to split up the funds.

Counselors See Changes in Motives of Reverse Mortgage Borrowers — Reverse mortgage counselors have seen declines in demand for their services in the wake of the October 2 principal limit factor changes, but they’re also seeing different kinds of borrowers with different ideas of how to use a Home Equity Conversion Mortgage.

Nationwide Equities Rebrands Reverse Mortgage Offering — Citing a desire for a more direct name for its retail reverse mortgage channel, the Mahwah, N.J.-based Nationwide Equities rolled out the “Reverse Loans USA” brand name last week.

Tomorrow’s Retirees Face Shortfalls, But Reluctant to Explore HECMs — A new analysis from Boston College found that the coming generation of seniors is woefully unprepared for retirement, but remain opposed to using their home equity to help bridge the gaps.

Reverse mortgages around the web

Carson under investigation — Ben Carson and his family found themselves under the microscope this week, as the Department of Housing and Urban Development’s inspector general disclosed an open investigation into their recent activities. The HUD secretary himself asked for the probe, according to a CNN report, after Carson’s family was discovered to have organized a Baltimore listening tour on behalf of HUD last year.

HECMs shouldn’t be controversial — The Mandelman Matters blog presents an argument for why HECMs should no longer be considered “controversial” loans, citing new government protections and potential benefits for retirees.

Written by Alex Spanko

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