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

  • 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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  • Older homeowners are spending big on home improvements

    Harvard study says aging homeowners will drive this market
    Home improvement spending continues to trend upward, with the latest data from Harvard’s Joint Center for Housing Studies putting the aggregate total at a new high of $424 billion. The home improvement sector can thank the Baby Boomers for that, as research shows older homeowners are spending big on home renovations and aren't expected to slow down anytime soon.
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  • HUD: Reverse mortgages continue drain on FHA insurance fund

    Subsidy rate holds steady in Q2 as program becomes more burdensome for FHA
    Reverse mortgage volume has been rather abysmal as of late, and second quarter data from HUD doesn't provide many bright spots. In its Q2 report to Congress on the state of the FHA’s flagship insurance Fund, HUD reveals that the reverse mortgage program continues to be a drain.
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  • Home equity gains continue to slow

    Homeowners see returns slip as home-price growth moderates
    The average homeowner gained $6,400 in home equity in 12 months’ time as of the first quarter of the year, according to the latest CoreLogic data. While on its face that might seem like a solid return for zero work, a brief look at historical gains reveals that, well, maybe not so much.
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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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  • From HW Magazine

    AAG changes the conversation around the use of home equity

    AAG's new brand message, "Retire Better" focuses on thoughtful and personalized solutions
    Within AAG’s wholesale division, the feedback the company continued to hear from its brokers (some 800+ of them) is that borrowers and family members are still being influenced by old assumptions about HECM products, which have changed significantly since they were introduced by the Reagan administration in 1989. New regulations have improved standards and added safeguards, to further protect older Americans, making home equity mortgages now another option as a strategic financial planning tool for many seniors.
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  • From HW Magazine

    What happened to reverse mortgages?

    Reverse mortgages taken a brutal hit in the last two years
    For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.
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  • HUD earmarks $43 million for housing counseling agencies

    Adds additional $2.5 million for counselor training
    The Department of Housing and Urban Development has set aside $43 million to fund grants for hundreds of housing counseling organizations. The grants will be used to help HUD-approved agencies counsel consumers on things like buying a first home, finding affordable rental housing, obtaining a reverse mortgage or avoiding foreclosure of eviction.
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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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