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Provider: Reverse Mortgage Daily
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Here’s How the Latest Home Equity-Tapping Tools Stack Up
When it comes to utilizing a wealth of built-up equity, homeowners have an array of options available on the market. Aside from reverse mortgages — both federally backed and proprietary — many shared equity products and sale leaseback products have popped up in recent months, each with their own features, fees, and structures. RMD gathered […]
11/19/2018 02:46 AM

Harvard: High Homeownership, Low Income Are Future For America’s Seniors
A new report from Harvard University’s Joint Center for Housing Studies reveals emerging trends for America’s senior population, as well as notable implications for the future of the reverse mortgage market. The market for home equity solutions appears to be growing, based on the findings from the 2018 edition of Housing America’s Older Adults. Among […]
11/19/2018 02:22 AM

Finance of America Reverse Announces Rebranding, Silvernest Partnership
Following a major investment in consumer research aimed at discovering ways in which Americans are approaching their preparations for retirement, Finance of America Reverse (FAR) today announced a major rebranding initiative, aimed at more broadly introducing home equity access into the prospective plans of retirees. “There are a few reasons why the timing is right […]
11/15/2018 10:54 PM

[Update] Despite Gain, Reverse Mortgages Continue to Weigh on FHA Insurance Fund
The reverse mortgage portion of the Federal Housing Administration’s Mutual Mortgage Insurance Fund continues to drag on the overall government-backed portfolio, according to an annual actuarial review of the fund’s finances released Thursday morning. At the end of fiscal 2018, the Home Equity Conversion Mortgage cash flow net present value, a measure reported to Congress […]
11/15/2018 03:56 PM

Tips to Addressing The New Appraisal Rule with Reverse Mortgage Borrowers
With a month of experience with the Department of Housing and Urban Development’s new collateral risk assessment for reverse mortgage properties, lenders have reported a relatively smooth process in submitting appraisals to HUD and receiving responses as to whether a second appraisal is needed. And an industry working group has been studying the process, finding […]
11/14/2018 10:47 PM

Figure Technologies Announces New Sale Leaseback Offering
Home equity release firm Figure Technologies, Inc. has announced the rollout of a new sale leaseback product to offer prospective homeowners an option to access their home equity as an alternative to a reverse mortgage. This new offering, Figure Home Advantage, works as follows: Figure purchases the home, and grants seller(s) a lease that renews […]
11/14/2018 10:25 PM

Prosper to Launch ‘Digital HELOC’ in 2019
On the heels of a host of new equity-tapping products coming into the market, San Francisco-based peer-to-peer lending firm Prosper has announced the launch of a digital Home Equity Line of Credit (HELOC) offering to be launched in 2019. Aiming to simplify a notoriously difficult and prolonged application process that often leads to consumer frustration, […]
11/14/2018 05:14 PM