In an ongoing series of stories focused on the dynamics of Colorado’s aging population, the Colorado Sun previously detailed some of the ways that the state is confronting the “silver tsunami” of people growing older while needing sufficient services to accommodate their needs. While the state may not have the largest population of people in […]
Colorado’s surging median age is attributed to aging in place Read More »
In November, Chicago-based mortgage lender Rate — formerly known as Guaranteed Rate — announced that it was “revamping” its dedicated reverse mortgage division by appointing two longtime industry veterans to lead its efforts with older borrowers. Industry veteran Jesse Allen, formerly of OneTrust Home Loans and American Advisors Group (AAG) is now leading the division
Rate’s Jesse Allen on the progress of a reverse mortgage revamp Read More »
Reverse mortgage originators often remain a key point of contact for their clients from initial consultation to long after the loan closes. But getting to the closing table can come with its own set of unique challenges, whether it comes from rules that govern the Home Equity Conversion Mortgage (HECM) program or the potential bias
Reverse mortgage LOs share appraisal challenges at NRMLA event Read More »
The federal judge overseeing the case brought by reverse mortgage lender Longbridge Financial against market leader Mutual of Omaha Mortgage over allegedly deceptive advertising practices has ruled that some of Longbridge’s claims warrant limited injunctive relief, finding that “the law and facts clearly favor some of Longbridge’s claims.” The order was handed down Tuesday by
Longbridge wins partial preliminary injunction against Mutual of Omaha Read More »
After lawsuit challenging the government’s authority to extinguish stakes in securitized Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgages (HECMs) was recently decided in favor of Ginnie Mae, the plaintiff in the case has made good on its promise to appeal the decision. Texas Capital Bank (TCB) — which initially filed the lawsuit against Ginnie
Texas Capital Bank appeals case against Ginnie Mae over reverse mortgage collateral Read More »
Reverse mortgage professionals encounter a variety of challenges when introducing product specifications to a prospective customer for the first time. These elements may include an explanation of how the loan proceeds work, clarifying the realities of negative amortization, or something as basic as communicating to a family member why their loved one is thinking of
Loan officers detail the challenges of explaining reverse mortgages Read More »