Finance of America CFO Steps Down, Successor Announced
In an unexpected development, Finance of America Companies (FOA), the parent organization of industry giants Finance of America Reverse (FAR) and American Advisors Group (AAG),[more...]
Exploring Property Tax Responsibility in Life Estates: What Reverse Mortgage Holders Should Know
By Reverse Mortgage Tribune A life estate is a strategic method of co-owning property that aims to facilitate the smooth transfer of assets to designated[more...]
September Sees Dip in Reverse Mortgage Volume but Uptick in HMBS Issuance
Amidst the ever-evolving landscape of the reverse mortgage industry, September brought forth a mix of results. While Home Equity Conversion Mortgage (HECM) endorsements experienced a[more...]
FHA Announces Revisions to HECM Requirements Amid Market Conditions
Mortgagee Letter 2023-15Download --- In a significant development, the Federal Housing Administration (FHA) has unveiled crucial revisions pertaining to the Home Equity Conversion Mortgage (HECM)[more...]
In Case You Missed It: Key Update on Adjustable-Rate Reverse Mortgages
For those who might have missed this crucial update, a significant change took place for adjustable-rate reverse mortgages. This alteration is tied to the expiration[more...]
Cracking the Mortgage Approval Mystery for Older Americans
When you think of mortgage applicants, do you picture young couples buying their first homes? While that's a common scenario, older Americans are increasingly seeking[more...]
Is the Three-Legged Stool of Retirement Still Steady?
The traditional concept of retirement planning, often referred to as the "three-legged stool," has been a go-to strategy for financial advisers. This metaphor represents the[more...]
ChatGPT on Reverse Mortgage Features and Safety: A Q&A
Artificial intelligence (AI) has rapidly evolved and found applications across various fields, including the reverse mortgage industry. Chatbots, powered by AI, have become prevalent tools[more...]
HUD Allocates $160.1 Million in Grants to Foster Affordable Housing for Low-Income Seniors
The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs has unveiled the allocation of $160.1 million in grants to non-profit[more...]
FHA Introduces New Policies to Streamline Home Equity Conversion Mortgage Claims Processing
The Federal Housing Administration (FHA) has unveiled a set of new policies aimed at expediting the payment of funds to mortgagees when assigning a Home[more...]
English