Tennessee has enacted a new state law that opens up originations for proprietary reverse products. Processing Content Approved in both state chambers this spring, the Tennessee Reverse Mortgage Innovation Act was signed into law in late May by Gov. Bill Lee. The act effectively changes language found in previous legislation, which restricted reverse lending to […]
Tennessee legalizes proprietary reverse mortgages Read More »
Onity Group announced Tuesday that it was able to get an essential approval for a reverse mortgage transaction with Finance of America by reducing the amount of servicing rights it’s agreeing to sell. Processing Content The plan the company announced in its recent earnings call to get government securitization guarantor Ginnie Mae’s blessing by roughly
Onity updates reverse mortgage deal, preps share buyback Read More »
Finance of America turned a profit in the first quarter following two consecutive periods of losses. Processing Content The Texas-based reverse mortgage company posted a net income of $35 million last quarter, a significant jump from the $21 million loss recorded in the fourth quarter, but still well below the $80 million it made in
Finance of America returns back to profit in first quarter Read More »
Home Equity Conversion Mortgages endorsements fell for the second month in a row in April, although trends show proprietary reverse products are now filling some of the void. Processing Content Endorsements of the Federal Housing Administration-backed product dropped 1.4% between February and March to 2,088 loans from 2,117, maintaining a slowdown that appeared in the
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Seniors are turning to reverse mortgages as they struggle to keep up with the costs of living, a new industry report found. Processing Content More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024, according to GreenPath Financial Wellness,
Reverse mortgage clients face growing budget deficits Read More »
Reverse mortgage lender Finance of America is offering a new product that allows older homeowners to access their home equity without, they say, adding another monthly expense. Processing Content The lender launched HomeSafe Second Line of Credit, a second-lien reverse mortgage line of credit that allows homeowners 55 and older to draw funds as needed
FOA launches new reverse mortgage line of credit product Read More »
Endorsements of Home Equity Conversion Mortgages surged noticeably last month from a short February, but volumes are still showing weakness compared to second-half 2025 levels. Processing Content HECM endorsements increased 16.3% month over month in March to 2,117 loans, according to the latest data from Reverse Market Insight. While welcome news for lenders of the
March HECM bump masks a deeper slowdown Read More »
Finance of America posted another net loss in the fourth quarter, but saw significant profit increases for 2025 as a whole. Processing Content The reverse mortgage company reported a $21 million loss from continuing operations in the fourth quarter, a $7-million improvement from the previous quarter, FOA revealed on an earnings call Tuesday. On an
FOA reports another loss in Q4, still profits in 2025 Read More »
Early-year data shows a noticeable slowdown in government-backed reverse mortgage endorsement volume, and the rise of proprietary products may be playing a role. Processing Content Endorsements of Federal Housing Administration-backed Home Equity Conversion Mortgages dropped 20.7% between January and February to 1,821 transactions, according to the latest data from Reverse Market Insight. January’s total had
HECM lenders see subdued numbers to start the year Read More »
Home Mortgage, is launching a new program to help financial professionals integrate home equity into retirement planning. Processing Content The training, offered exclusively to NAIFA members, focuses on the ethical and strategic use of housing wealth, including reverse mortgages, in retirement planning for clients 55 and older, the organizations said in a press release Tuesday.
Fairway, NAIFA reverse mortgage training targets financial advisors Read More »