The National Reverse Mortgage Lenders Association (NRMLA) this week sent a letter to a New Jersey lawmaker, stating its opposition to a legislative proposal tied to reverse mortgage counseling requirements in the Garden State. The letter is addressed to state Sen. Shirley Turner (D), the sponsor of New Jersey Senate Bill 264, which creates “pre-loan […]
Nearly two months after three federal housing agencies wrapped up an extended public comment period about the future of two federal reverse mortgage programs, industry stakeholders are waiting to learn what they’ll do next. In October, the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) and Ginnie Mae announced a
HUD reverse mortgage changes remain unclear Read More »
Editor’s note: Welcome to the first installment of the Monday Morning Q&A from HousingWire’s Reverse Mortgage Daily (RMD). Each Monday morning, the RMD newsletter will feature an in-depth interview with a reverse mortgage industry figure on a wide range of topics including loan origination and servicing, product development and technology. Dan Hultquist has no shortage
Dan Hultquist on reverse mortgage policy reform and more Read More »
Women who are 50 and older are feeling the pinch of rising costs and economic uncertainty, even as they enjoy time with their family and hobbies, according to a new AARP survey. The research, part of AARP’s “She’s the Difference” series, highlights financial concerns that weigh heavily on older women — particularly when it comes
Fairway Home Mortgage on Tuesday announced a partnership with the National Association of Insurance and Financial Advisors (NAIFA) to unveil a new educational credential for NAIFA members. The Certified Home Equity Advisor (CHEA) credential aims to help financial and insurance professionals “responsibly integrate home equity into comprehensive retirement planning,” Fairway explained in a press release.
More than one-third of working-age Americans lack access to an employer-sponsored retirement plan, and those who do have median balances of just $40,000, according to a new study from the National Institute on Retirement Security (NIRS). The analysis of U.S. Census Bureau data from December 2022 paints a stark picture of retirement preparedness for the
Home equity props up retirees as savings fall short Read More »
Direct retail endorsements for Home Equity Conversion Mortgages (HECMs) don’t capture the full picture of origination activity in the federally insured reverse mortgage space. Reverse Market Insight (RMI) and HECMWorld are looking to change that. On Thursday, HECMWorld published an RMI dataset of HECM endorsements through brokers and third-party originators (TPOs). The initial report covers
Here are the nation’s top reverse mortgage brokers for 2025 Read More »
Reverse mortgage veterans Loren Riddick and Shannon Hicks are launching a new event this spring that aims to increase loan officer sales skills across the Home Equity Conversion Mortgage (HECM) and proprietary loan spectrum. The Reverse Mastermind Summit — scheduled for May 5-7 in Riddick’s hometown of Knoxville, Tennessee — will feature several big-name speakers
Reverse Mastermind Summit looks to spark an LO renaissance Read More »
Reverse mortgage borrowers whose loans were previously serviced by U.S. Department of Housing and Urban Development (HUD) subcontractor NOVAD Management Consulting LLC may receive reimbursement checks in the mail following a 2024 enforcement action brought by the Consumer Financial Protection Bureau (CFPB). The National Reverse Mortgage Lenders Association (NRMLA) notified its members on Friday morning in
Restitution checks possible for some reverse mortgage borrowers after CFPB action Read More »
Ryan Ponsford, a veteran financial adviser with more than 25 years of experience in wealth management, real estate and lending, is unequivocal: “The reverse mortgage line of credit is one of the most misunderstood, underutilized tools in retirement planning today.” “The scary part — put five reverse mortgage people in a room and ask them
Reverse mortgage line of credit remains underused — but advisers may be receptive Read More »