Items Tagged with 'REVERSE MORGAGES'

ARTICLES

  • Senior housing wealth continues to smash records

    Older homeowners have amassed an unprecedented $7.14 trillion in home equity
    Older homeowners continue to rake in the home equity as home values appreciate across the nation, with the latest data revealing that equity levels for the 62-and-older set grew by $104 billion last quarter. That brought senior housing wealth to a record-breaking $7.14 trillion in the first quarter of the year.
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  • Alabama-based Hometown Lenders launches HECM division

    Adopts ReverseVision technology to support new channel
    Alabama-based mortgage lender Hometown Lenders announced Thursday that it’s launching a reverse mortgage division, employing ReverseVision’s HECM technology to support its effort. This makes Hometown the second lender in the last month to launch a HECM division using ReverseVision technology, apparently finding merit in the "generational lending" strategy RV promotes.
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  • Experts: There's an urgent need to stabilize the reverse mortgage program

    Say HECMs the only means for low-income seniors to age in place
    A group of experts on aging and retirement gathered at a private meeting hosted by the Urban Institute to discuss the retirement crisis looming over the country's older population, and one thing was abundantly clear: We must find a better way to monetize home equity. For starters, urgent fixes are needed to stabilize and improve the reverse mortgage program.
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  • Urban Institute to FHA: Fix your reverse mortgage servicing problems

    Stop transferring servicing rights, it’s costing millions
    Policymakers have long struggled with how to fix the FHA's reverse mortgage program to prevent it from draining the agency's mortgage insurance fund. But researchers are the Urban Institute have an idea: Fix the program's servicing problems, which they call "one of the biggest drivers of losses in the HECM program." Here's what they suggest.
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  • Most homeowners think a reverse mortgage is a last-resort option. Here's why they're wrong

    Savvy homeowners can use the loan to maximize their resources in retirement
    Reverse mortgages are traditionally thought of as a last-resort option for seniors who want to stay in their homes but have little resources and few options left. But research has proven otherwise. For those over 62 who want to age in place, a reverse mortgage can be a beneficial financial planning tool for more well-off borrowers in a number of ways.
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