Homeowners, Appraisers Agreed More on Value at End of 2017

Though the average appraisal of a home still lags behind the price homeowners hope to achieve, the gap between the two numbers is narrowing, according to the National Quicken Loans Home Price Perception Index (HPPI). The index compares the estimate supplied by homeowners on a refinance mortgage application to the appraisal later conducted in the mortgage […]

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Half of U.S. Households Won’t Have Sufficient Income to Retire

An ongoing analysis of Americans’ retirement readiness showed a slight improvement in 2016, but the results still reveal that half will find themselves short of their golden-year goals. The National Retirement Risk Index (NRRI) dropped from 52% to 50% between 2013 and 2016, according to the most recent calculation from the Center for Retirement Research […]

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FirstBank Named Reverse Mortgage Partner for National Lender Network

As an existing member of the national Mortgage Collaborative, FirstBank Mortgage has taken on a new role as the organization’s preferred partner for reverse mortgages. The collaborative, a member-based organization of more than 120 lenders, also includes a number of preferred partners that offer the consortium economies of scale and other benefits they may not […]

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Home Prices Continue Steady Rise, Jump 7% in November

Home prices nationwide continued their steady march upward in November, with a 7% year-over-year increase according to real estate research firm CoreLogic. Prices rose 1% between October and November, the Irvine, Calif.-based CoreLogic reported, amid persistently limited supply and steady demand from homebuyers — two metrics that don’t currently show signs of slowing down. “Without […]

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HUD Releases New Foreclosure Prevention Guide for Homeowners

The Department of Housing and Urban Development this week released a new resource for homeowners facing foreclosure. While it doesn’t specifically mention reverse mortgages, the guide — titled “Homeowner’s Guide to Success” — offers pointed advice that still applies to holders of Home Equity Conversion Mortgages. For instance, the document advises struggling homeowners to contact […]

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Landmark Network Rolls Out Wholesale Support Program

Landmark Network, Inc. on Wednesday introduced a new support system for wholesale partners, with the goal of linking lenders with key executives during tricky parts of the loan-closing process. The Van Nuys, Calif.-based appraisal firm calls the new initiative “Wholesale365,” a new program that allows wholesale account executives and underwriters access to top Landmark employees […]

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Top 10 Reverse Mortgage Stories of 2017

The past year may well go down as one of the most transformative in the reverse mortgage industry since the program began in the late 1980s. The Department of Housing and Urban Development rolled out a series of sweeping changes to the Home Equity Conversion Mortgage, multiple major players began looking beyond the HECM for […]

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Five Reverse Mortgage Marketing Strategies for 2018

With new reverse mortgage principal limits potentially bringing a significant drop in demand among prospective borrowers, the marketplace is set to become more competitive in 2018. And as the new year approaches, lenders and independent originators may be thinking about ways to shake up marketing plans in the coming months. Earlier this year, a pair […]

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Borrowers’ Children Weigh in on Reverse Mortgage Successes

While reverse mortgage loan originators frequently receive feedback from their clients and the family members of borrowers, it’s not often that borrowers’ family members weigh in publicly about their experiences. During the National Reverse Mortgage Lenders Association’s annual conference last month in San Francisco, several children of reverse mortgage borrowers shared their input with attendees—a […]

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What Could Happen to Reverse Mortgages During a Government Shutdown

Editor’s Note: With Congress facing yet another potential government shutdown, RMD is reprinting this article from April, when a similar action was averted. This time around, while Republicans hope to avoid any distractions from their sweeping tax overhaul, President Trump on Wednesday threatened that a shutdown could happen Saturday; Congress has until Friday to pass a spending bill that […]

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HECM Originators Detail ‘Dream’ Reverse Mortgage Product

Faced with lower principal limit factors for the Home Equity Conversion Mortgage, brokers are enthusiastic about the potential of new proprietary reverse mortgages entering the market. These possible products came up during a CEO panel at the National Reverse Mortgage Lenders Association’s annual conference in San Francisco last month, where executives challenged the industry to […]

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