ReverseReview

ReverseReview
News and information focused on senior housing, retirement income planning and equity release products. Reverse Review was founded in 2008, and acquired by HousingWire in 2018.

ARTICLES

  • FHA takes steps to relieve balance sheet stress for reverse mortgage issuers

    Relaxes documentation guidelines to streamline assignments to HUD
    The Federal Housing Administration issued new guidelines Monday to ease documentation requirements for reverse mortgage issuers. With revised rules in place, FHA aims to address the rigorous reporting requirements that were gumming up the works, adding serious stress to the balance sheets for reverse mortgage issuers.
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  • FHA publishes FAQ on second appraisal mandate for reverse mortgage loans

    Clarifies specifics for HECM lenders
    It’s only been in play for a few weeks, but the HECM industry continues to speculate just how impactful FHA’s new second appraisal mandate has been. In the meantime, the agency sought to clear up any confusion among lenders, recently publishing a list of FAQs on the new guideline. The biggest takeaway? Its process is proprietary, so don’t expect any clues about its methods.
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  • Servicing reverse mortgage loans in a hurricane's wake

    Celink urges lenders to learn more about servicing after a natural disaster
    Two weeks ago, Hurricane Michael decimated parts of the Florida panhandle, leaving thousands of homeowners – and reverse mortgage borrowers – left to deal with the destruction. Reverse mortgage loan servicer Celink urges lenders to connect their borrowers with their servicer to work through the repair process, and if you’re confused about what that is, "pick up the phone and call us!"
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  • Latest reverse mortgage data points to continued recovery

    Both wholesale and retail channels see growth
    For the first time since the last year’s program changes kicked in, the HECM industry saw growth in both its retail and wholesale channels, according to the latest report from Reverse Market Insight. RMI President John Lunde said the data "sets the stage for future growth and recovery."
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  • TransUnion: Home equity lending is going to soar

    Says market dynamics will propel more homeowners to tap equity
    Home equity levels continue to rise, and all signs point to a market ripe for home equity lending, according to a recent report from TransUnion. "There are ample signs that the home equity lending market is poised for growth," said TransUnion SVP and Mortgage Business Leader Joe Mellman, calling HELOCs a great opportunity for lenders.
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  • ReverseVision launches first-ever HECM borrower satisfaction benchmark

    Partners with STRATMOR Group to offer lenders insights based on customer feedback
    ReverseVision and STRATMOR Group just unveiled the MortgageSAT program, which surveys HECM borrowers on all aspects of their origination experience to provide lenders with deeper insights into ways they can improve the loan process. The program aims to help lenders better understand how they can elevate their services.
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  • Here are the top 10 reverse mortgage lenders

    And these are the different approaches they’re taking to survive the down market
    The reverse mortgage industry has taken a bit of a beating in the past year following significant program changes from HUD, but HECM lenders are nothing if not resilient. We’ve compiled a list of the top 10 players in the space and a summary of the approach each has taken to stay afloat in the current climate.
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  • Should you use home equity to delay Social Security?

    The CFPB warned against it, but experts say it works
    For some time, reverse mortgage lenders touted a strategy that involves obtaining a HECM early on in retirement in order to delay taking Social Security, therefore maximizing its benefit. But then the CFPB issued a warning against it. Now, retirement researchers and financial advisors say the strategy still has real merit, but suitability depends on a case-by-case basis.
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  • Open Mortgage is all in on reverse

    "We think chaos in the marketplace makes it a great time to invest"
    Whether you originate traditional mortgage loans or focus on reverse, it’s a tough time in the lending space right now. For Open Mortgage, that means there’s opportunity for those bold enough to go after it. "It's all about moving forward when others are stuck," said CEO and Founder Scott Gordon.
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  • HUD awards $47 million grant to housing counseling agencies

    Funding is crucial to success of reverse mortgage program
    The U.S. Department of Housing and Urban Development announced Wednesday that it has awarded $47 million in housing counseling grants. Some of the grant money went to agencies that offer reverse mortgage counseling, and the influx of cash will be crucial to keeping them in business and keeping the HECM program alive.
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