Why having a mandatory mortgage payment in retirement may be dangerous!
Continue readingThe Danger of Mandatory Mortgage Payments in Retirement
AARP joins class action lawsuit against RMF and Celink
AARP has joined a class action lawsuit against former reverse mortgage lender Reverse Mortgage Funding (RMF) and loan servicer Celink.
Continue readingHow one reverse mortgage servicer is utilizing AI
A recent interview between National Mortgage News’ technology reporter and Celink’s Chief Information Officer reveals how AI is being utilized in the servicing of reverse mortgage loans. Here are a few notable excerpts…
Continue reading2024 HECM Limit Increased: Here’s why
FHA has announced that the HECM limit will be increased effective January 1st, 2024. The new HECM limit or the maximum home value that may be considered in the federally-insured reverse mortgage is…
Continue readingCould Reverse Mortgages Be the “Value” Play for Millions of Older Americans?
“When we consider the liquidity options and flexibility they [reverse mortgages] can bring to a long-term retirement plan, they are truly a value play that should be considered.”
Continue readingNovember Top 100 HECM Lenders Report
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View Annual Historical HECM Endorsements
Two reasons for the Fed cut rates in 2024
Many economists believe the Fed will cut rates in 2024 but for differing reasons…
Continue readingOpen Mortgage exits reverse mortgage lending
Top-ten HECM lender Open Mortgage announced the closure of their reverse mortgage division citing profitability challenges from…
Continue readingHECM Counseling Demystified
What happens during a HECM counseling session? Are reverse mortgage professionals properly preparing homeowners for their counseling sessions? We interviewed Greg Smalls with Consumer Education Services, Incorporated to answer these questions and more.
Continue readingHECM MMI Fund Remains Positive for Now
While the HECM portion of FHA’s portfolio remains positive its capital ratio has slightly slipped thanks to the program’s extreme sensitivity to home price appreciation and interest rates…
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