One Illinois scammer was so prolific in victimizing older homeowners tricking them into a reverse mortgage that it prompted the State Assembly to draft a new bill.
Continue readingNew Illinois bill prompted by reverse mortgage home improvement scam
President Trump names acting HUD Secretary
A look at President Trump’s recent executive order addressing America’s housing affordability crisis and what it means for current and potential reverse mortgage borrowers.
Continue readingWhat LA wildfire victims with a reverse mortgage need to know
Here’s what LA fire victims with a reverse mortgage need to do and how servicers can help.
Continue readingShould I help my parents to avoid a reverse mortgage?
One MSN reader asks if she should financially support her parents to avoid a reverse mortgage as she’s the sole heir. Here’s what they said.
Continue readingA HECM for Purchase Success Story.
Here’s how one Facebook post helped one couple relocate and purchase their retirement home near the coast of South Carolina.
Continue readingBoomers expected to leave $17 trillion to kids
Older adult children who may face the need to support their aging parents even with a reverse mortgage. Here’s what one Ramsey Solutions caller had to say…
Continue readingThe HMBS program has gone from one to eliminate to one to emulate
Recently the Mortgage Bankers Association floated a proposal for Ginnie Mae to create a new mortgage-backed security program that would boost liquidity for which the agency’s new HMBS 2.0 program could serve as a template.
Continue readingWhat the latest HECM application data reveals
The latest case number assignments for HECM loans was released. Here’s what October’s application data reveals…
Continue readingFHA Announces the 2025 HECM Limit
Mortgagee Letter 2024-22 was released on November 26th announcing the new HECM limit which will be in effect for 2025.
Continue readingWill reverse mortgage surge in 2025? Here’s what one broker says
Corrina Carter, president and founder at CMS Mortgage, told Mortgage Professional America she expects reverse mortgage could become an increasingly viable option for many in 2025 and beyond.
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