Reverse

Reverse

ReverseReview is a beat dedicated to reverse mortgages and home equity use.

Jessica Guerin is an editor at HousingWire covering reverse mortgages and the housing wealth space. She worked previously as the editor-in-chief of The Reverse Review Magazine, and leads HW's charge into covering the housing wealth and HECM market.

ARTICLES

  • New York Court approves representation for mortgage borrowers in Ditech bankruptcy

    Ditech loses motion to dismiss consumer committee
    The Bankruptcy Court of the Southern District New York denied Ditech’s motion Friday to dismiss the formation of a consumer committee to protect the interests of mortgage borrowers who have loans with Ditech or its subsidiaries – including those who have reverse mortgages with its subsidiary Reverse Mortgage Solutions – ensuring these borrowers will not suffer too great a loss as the mortgage giant restructures.
    Read More
  • Reverse Mortgage Funding expands payment options on proprietary reverse product

    Equity Elite borrowers can now receive proceeds in term payments
    Reverse Mortgage Funding is expanding the payment options on its proprietary reverse mortgage – the Equity Elite – to include term payments. Previously, Equity Elite borrowers could withdraw up to $4 million in their home's equity in a lump sum only at closing. Now, borrowers can select any number of term payments between 24 and 120 months.
    Read More
  • FHA's Montgomery says "more flexible" condo rules are coming

    Says agency is actively working to revise condo approval requirements
    FHA Commissioner Brian Montgomery said the agency is currently working to revise its condominium approval rules and that he expects a final rule to be announced soon. After a near three-year wait, Montgomery said the industry can expect a final ruling on the proposed revisions that will be "less prescriptive and more reflective of the current market."
    Read More
  • Celink names Robert Sivori new chairman, CEO

    Longtime reverse mortgage exec to head HECM subservicer
    Celink, the largest subservicer of reverse mortgages in the U.S., announced that Robert Sivori will take over as its new chairman and CEO. The HECM industry veteran is credited with building one of the strongest and most robust reverse servicing platforms.
    Read More
  • The Academy of Home Equity in Financial Planning focuses on smart use of housing wealth

    Former Funding Longevity Task Force gets a new name and a new institutional partner
    For some time, a group of academics and financial planning professionals have sought to spread awareness about reverse mortgages and home equity use as the Funding Longevity Task Force. Now, this group has fine-tuned its mission, and it has a new name and a new institution to back it.
    Read More
  • ReverseVision launches interactive comparison tool for reverse mortgages

    Allows users to assess the HECM versus HELOC and other loans
    ReverseVision has long been on a mission to elevate reverse mortgage technology to encourage more borrowers and traditional loan officers to consider the product. Now, the three-time HW Tech100 winner is upping its game with the launch of a new loan comparison product that enables users to weigh a HECM against a HELOC or a first- or second-lien mortgage – a tool it hopes will help LOs and consumers better understand reverse mortgages.
    Read More
  • Mortgage borrowers win protection in Ditech bankruptcy, Ditech fights back

    New York court must rule on Ditech's objection
    The long and winding saga of Ditech's bankruptcy continues, as the U.S. Trustee grants a request to create a committee to protect consumer interests in the proceedings. The committee is intended to ensure that borrowers who have a mortgage with Ditech or its subsidiaries don't get trampled in the proceedings, but if Ditech has its way, this group will be disbanded before it has a chance to weigh in.
    Read More
  • Live Well Financial's abrupt closing leads to host of problems

    Creditor pledges to pursue "all available sources of collection" while former employees sue for lost wages
    Live Well Financial abruptly shuttered operations earlier this month, blaming unforeseen market conditions and regulatory issues that rendered the company without sufficient capital to continue funding traditional and reverse mortgage loans. But now, the company has to deal with the damage left in the wake of its decision to abruptly close – and it looks like the cleanup will likely be expensive.
    Read More