One of the nation’s largest reverse mortgage lenders filed for Chapter 11 Bankruptcy last week
Continue readingHECM Limit Increased!
RMI’s Market Minute- What a ride!
Jack Guttentag writes in Forbes, “About 60% of the homeowners reaching 62 today have outstanding mortgage balances, and most of them have limited financial assets”
Continue readingHousing Market Predictions For The Next 5 Years
What will the housing market look like in the coming five years? Forbes asked experts for their predictions and here’s what they had to say…
Continue readingIs liquidating an IRA better than a reverse mortgage?
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EPISODE #748
Should I plan to liquidate my IRA and get a reverse mortgage?
[NewJersey-com ] One reader asks a local financial columnist if it’s better to liquidate her IRA as her own private reverse mortgage. The implications are stark…
Other Stories:
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Retirement Delays Create Challenges for Plan Sponsors Highlighting Opportunities for Financial Professionals and Consultants
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Advisor’s Edge: Should clients use home equity to fund retirement?
Reverse mortgages a saving grace for non-bank originators
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EPISODE #747
Lenders who diversify product offerings more likely to survive market fallout & lender consolidation
[Housing Wire] Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers, or failures in the wake of the double whammy of still-rising inflation and interest rates. One asset group company is focusing on working with nonbank originators to offer additional asset classes such as HELOCs, second-liens, or reverse mortgages…
Other Stories:
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Nutter Home Loans gives details on shutdown and lawsuit
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AARP: Sooner than later it’s time to talk about housing needs late in life
What happened to September HECM Endorsements?
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EPISODE #746
AAG cuts workforce- Finance of America to close forward division
A rapidly-changing market has led two of our industry’s largest lenders to make big changes. One reduces its reverse mortgage workforce, another will close its traditional/forward division and focus on its productive reverse mortgage channel.
Other Stories:
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Finance of America Mortgage closes forward unit- reverse remains the focus
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Reverse Market Insight’s monthly market update
Experts: what homeowners should do in a softening market
Are we headed for a major market crash? Are there things to consider like reverse mortgages to help weather eroding market conditions? Several experts weigh in with their advice…
Continue readingHurricane Ian traumatized Floridians & their home nestegg
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EPISODE #744
The CFPB wants to hear from you
The Consumer Financial Protection Bureau (Bureau or CFPB) is seeking comment from the public about (1) ways to facilitate mortgage refinances for consumers who would benefit from refinancing, especially consumers with smaller loan balances; and (2) ways to reduce risks for consumers who experience disruptions in their financial situation that could interfere with their ability to remain current on their mortgage payments. The press release refers to this solicitation as a Request for Information (RFI).
Other Stories:
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Don’t Be Complacent During The “Critical Retirement Decision” Zone
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Hurricane Ian traumatized Floridians. It also erased their nest egg
A closer look at September’s HECM Endorsement data
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EPISODE #743
Moodys says these 210 housing markets could crash 25-30%
[Fortune] “Moody’s Analytics expects that U.S. home price decline to widen to between 25% to 30% in 210 “significantly overvalued” housing markets.
Other Stories:
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Homebuilder sell-off to impact neighborhood home values
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A closer look at September’s HECM Endorsement data
As the Market Falls, New Retirees Need a Plan
[Kiplinger] “Anyone newly retired or nearly so must feel like they have the worst timing in the world. A portfolio tends to be largest near retirement, just before those savings are about to be drawn down.”
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