Reverse Mortgage Testimonial – Marie

Reverse Mortgage Industry News

• New Reverse Mortgage Sales Opportunities, Reduced Second Appraisals During Pandemic
  While the effects of the COVID-19 coronavirus pandemic have continued to have a pronounced effect on the economic stability of the United States, it has also managed to create some decidedly unique opportunities for selling reverse mortgages and providing additional benefits to seniors — and some financial organizations — that have suffered an economic shock. […]
• CFPB Issues Guidance Related to LIBOR Transition
  The Consumer Financial Protection Bureau (CFPB) on Thursday issued several pieces of guidance related to the anticipated discontinuation of the London Interbank Offered Rate (LIBOR) index in 2021, in an effort to better facilitate creditors’ transition away from using LIBOR as an index for variable-rate consumer credit products. “The Bureau released an updated Consumer Handbook […]
• How the New Condo Rule is Playing Out for Reverse Mortgage Lenders
  In late 2019, the Department of Housing and Urban Development issued new condominium guidelines that aimed to make it easier for single units to be approved for Federal Housing Administration (FHA) financing. This included transactions under the Home Equity Conversion Mortgage (HECM) program. Historically, an entire condo complex would need to be approved for FHA […]