Articles by Jessica Guerin

One in four homes are now equity rich

Homeowners in California, Hawaii and Washington have the most equity
Nearly a quarter of U.S. properties with mortgages are equity rich, according to a recent report from ATTOM Data Solutions. The Western region led the charge with the highest percentage of equity-rich properties, as four out of the top five metros with the highest percentages were in California.
Read More

To own or not to own in retirement?

Lately, that appears to be the question
Owning a home in retirement seems to be an idea firmly ensconced in the American Dream, but the fact is more Baby Boomers are looking to rent than ever before. But what makes the most financial sense is up for debate, as two media outlets hash it out, landing on opposite sides of the fence.
Read More

Longbridge Financial goes 'Platinum'

Launches new proprietary reverse mortgage offering borrowers greater flexibility
Longbridge Financial jumped on the proprietary reverse mortgage bandwagon Monday with the official launch of Platinum. Billed as a more flexible product than FHA's product, Platinum is a fixed-rate, full-draw loan designed to cater to borrowers with high home values who want access to cash up front at a low cost.
Read More

Who’s the average reverse mortgage borrower?

Data sheds light on who takes a HECM
No longer a loan of last resort, reverse mortgages are increasingly considered a useful tool for retirement income planning. Recent data from the National Reverse Mortgage Lenders Association paints a picture of who takes a HECM.
Read More

One Reverse Mortgage launches proprietary product

Say hello to HELO
One Reverse Mortgage, a subsidiary of Quicken Loans, has joined the growing number of lenders with private reverse mortgage offerings. Its new HELO product provides borrowers access to up to $4 million of their equity and comes with fewer restrictions than the FHA product.
Read More

Would a reverse mortgage by any other name smell… sweeter?

Maybe the name is holding the product back
It comes as a surprise to…well, no one, that reverse mortgages come with some deep-seated negative connotations attached, which is why the industry has long debated the so-called “name problem.” Unfortunately, an issue like this is kind of a hard one to get around.
Read More

Hard-up for cash? Sell your home and then buy it back

Sale-leaseback startup EasyKnock offers an equity-release solution for homeowners in a bind
EasyKnock wants to help homeowners get back on their feet. They'll buy your house – handing you that equity in cold hard cash – and then rent it to you for as long as you like, or until you're able to buy it back.
Read More

Golf and business: A classic combo for a charitable cause

Ellie Mae brings together industry players and celebs to raise funds for families in need
Mortgage professionals descended on a Bay Area country club on Monday for the third annual 2018 Ellie Mae Classic. Colorful polo shirts abound as players lined up for Ellie Mae’s Community Pro-Am, sponsored by HousingWire. Later in the week, Steph Curry and others high-profile athletes will compete against pros in the Celebrity Shootout.
Read More

The Funding Longevity Task Force wants YOU… to know about reverse mortgages

And they’ve just added two new members to help spread the word
Most financial advisors are uninformed and misinformed when it comes to the importance of reverse mortgages, and it’s time for this to change. This is the founding principal of the Funding Longevity Task Force, a team of financial planning experts and academics who are committed to promoting research about the various ways reverse mortgages can be used to improve one’s financial outcome in retirement.
Read More

Is the future of the reverse mortgage market private?

Could proprietary products edge out FHA’s HECM?
There is pretty much one thing everyone is talking about in the reverse mortgage space right now, and it’s the proprietary market. With program changes stifling HECM loan volume, it seems lenders have finally found the push they needed to delve into the realm of private reverse mortgages.
Read More