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Lenders Prepare for 2019 Reverse Mortgage Challenges
Recent program changes and new appraisal rules have led reverse mortgage lenders to update their strategies and approaches in a consistently dynamic market. And on the the heels of major product changes implemented in late 2017, many longtime reverse mortgage players have adapted their businesses accordingly. Yet there are several challenges that remain in light […]
Forbes: A History of Reverse Mortgages
A professor at the American College of Financial Services has written a new column detailing the history of reverse mortgages, extending further beyond the Housing and Community Development Act of 1987 signed into law by President Ronald Reagan in February of 1988 by over 25 years. Appearing at Forbes, Dr. Wade Pfau – who also […]
MIT Researcher: Why Financial Advisors May Become ‘Longevity Advisors’
The director of the Massachusetts Institute of Technology (MIT) AgeLab sees that the future for the financial advising profession may lie in taking on a new role for “longevity advisors,” according to a new white paper he published at Hartford Funds. The paper, titled “The Future of Advice” and written by Dr. Joseph F. Coughlin, […]
Senate Confirms Kathleen Kraninger as CFPB Director
The United States Senate voted along narrow party lines on Thursday to confirm Kathleen L. Kraninger as the new full-time director of the Consumer Financial Protection Bureau (CFPB) for a term of five years. After a vote of 50-49, Kraninger will become the first full-time director the agency has had since the resignation of inaugural […]
HECM Endorsements Hit New Low Following October 2017 Changes
Home Equity Conversion Mortgage (HECM) endorsements dropped in November by 17.4 percent, representing a new low in volume since HECM rule changes were put into effect by the U.S. Department of Housing and Urban Development (HUD) in October, 2017. “New lows, here we are,” said John Lunde, founder and president of Reverse Mortgage Insight (RMI), […]