Reverse Mortgage Daily

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Provider: Reverse Mortgage Daily
Feed Type: Residential


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Canada’s Reverse Mortgage Leader Develops More Emotional Pitch to Seniors
As the U.S. reverse mortgage market struggles to adapt to lower principal limits, demand north of the border is surging — and Canada’s top reverse mortgage lender has embarked on a new marketing push to expand even further. The new TV spots from HomeEquity Bank emphasize homeowners’ desire to stay put even as they age. […]
07/19/2018 08:46 PM

Researchers Warn ‘Baby Boomer Sell-Off’ Could Flood Certain Housing Markets
The preference for baby boomers to age in place has been blamed in part for lower homeownership rates among millennials, who have been forced to compete for a smaller slice of available properties on the market. But now experts warn that even just a slight change in older homeowners’ attitudes could lead to a mass […]
07/19/2018 08:10 PM

Amid Reverse Mortgage Uncertainty, Originators Share Top Ideas for Change
In a landscape fraught with declining origination figures and new rules, reverse mortgage lenders have more than a few suggestions for improving the product central to their business. Many would start with at least some reversal of the program changes from the Department of Housing and Urban Development, which last fall inaugurated an overall reduction […]
07/18/2018 09:21 PM

Mulvaney Names First Director of CFPB Innovation Office
Consumer Financial Protection Bureau acting director Mick Mulvaney on Wednesday named the first leader for the department’s newly formed Office of Innovation. Paul Watkins, formerly in charge of financial technology initiatives for the attorney general of Arizona’s office, will take the helm of the innovation office, announced as part of a larger restructuring of the […]
07/18/2018 08:47 PM

Mutual of Omaha Bank Finalizes Purchase of Synergy One
Mutual of Omaha Bank on Monday completed its purchase of Synergy One Lending, Inc., cementing its entrance into the reverse mortgage marketplace. The two parties received regulatory approval from the Office of the Comptroller of the Currency earlier this month, Mutual of Omaha Bank said Tuesday, with the transaction formally closing on July 16. The […]
07/17/2018 07:50 PM

Champion Parent CEO: Reverse Mortgages a ‘Smaller Pond,’ Volume Drop ‘Prudent’
The CEO of Champion Mortgage’s parent company described the reverse mortgage servicing and sub-servicing market as a “smaller pond” compared to other aspects of its business, pointing to cratering origination numbers in the Home Equity Conversion Mortgage marketplace. “It’s just such a smaller pond, right?” Nationstar Mortgage Holdings (NYSE: NSM) CEO Jay Bray said on […]
07/17/2018 07:16 PM

How the West Was Won: Reverse Mortgages’ Left Coast Dominance
Month after month of data show Western states — particularly Colorado and Washington state — as hotbeds for reverse mortgage activity, and local originators say multiple factors make these locations ripe for volume. Much of this reverse mortgage activity is in the Seattle and Denver metropolitan areas, where property values are exploding and helping drive […]
07/16/2018 08:00 PM