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American Senior Lending launches EquitySelect solution for retirees

American Senior Lending, HighTechLending, Home Equity, HWmember, Retirement, Reverse, Reverse Mortgage Daily /

American Senior Lending, a national home equity solutions company, on Wednesday launched EquitySelect, a first-lien home equity loan designed to give retirees more financial flexibility. The nonrecourse loan — meaning that borrowers and their heirs will never owe more than the home is worth — lets borrowers choose their monthly payments, with options as low […]

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Saving for retirement is a ‘fragile and divided’ topic

BlackRock, Gen X, Gen Z, HWmember, Millennials, Retirement, Reverse /

As Social Security benefits face an increasingly uncertain future and living expenses for seniors continue to rise, a larger share of American workers and employers believe that “retirement confidence is fragile and divided.” That’s the key takeaway from the 10th annual iteration of BlackRock’s Read on Retirement survey, released last week. BlackRock — the world’s

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Is there a better way to avoid reverse mortgage foreclosures?

FHA, Foreclosure, HECM, HUD, HWmember, Mortgage Servicing, NRMLA, Reverse, Reverse Mortgage Daily /

Even with options in place to prevent them, reverse mortgages can end in foreclosure. But Byron Batres thinks his company can offer a solution to reduce these outcomes. While more recent numbers aren’t available, a 2019 analysis by the Government Accountability Office (GAO) of Federal Housing Administration (FHA) data found that the share of Home

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Most Gen Xers doubt their retirement readiness

Baby Boomer, Gen X, HWmember, Retirement, Reverse, Reverse Mortgage Daily /

With the oldest members of Generation X set to turn 60 by the end of 2025, many are approaching retirement with financial concerns. Northwestern Mutual’s 2025 Planning & Progress Study, released this week, found that more than half (54%) of Gen Xers born between 1965 and 1980 don’t believe they’ll be financially ready when retirement

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Bill would end Social Security benefit taxes

HWmember, Reverse, Senate, Social Security, Social Security Administration /

Sen. Ruben Gallego (D-Ariz.) has introduced the You Earned It, You Keep It Act, which would eliminate federal taxes on Social Security benefits while extending the payroll tax to incomes above $250,000. “Like a lot of Americans, I’ve been paying into Social Security since my first job at 14. But despite decades of paying into

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Longbridge’s ‘HELOC for Seniors’ is officially on the market

HELOC, HELOCs, Home Equity, HWmember, LendingLife, Longbridge Financial, Mortgage, Reverse, Reverse Mortgage Daily /

Longbridge Financial has officially launched a home equity line of credit (HELOC) program that’s designed for homeowners ages 62 and older, offering approval and funding in as little as five business days.  The move marks an expansion beyond the company’s core reverse mortgage business while staying focused on older borrowers. This demographic collectively holds nearly

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Will HUD’s new guidelines transform reverse mortgage counseling?

Counseling, Credit.org, HUD, HWmember, Regulatory, Reverse, Reverse Mortgage Daily /

The U.S. Department of Housing and Urban Development (HUD) has issued regulatory guidance in the past year that has had a “significant impact on counseling” for prospective Home Equity Conversion Mortgage (HECM) borrowers. That’s according to Melinda Opperman, the chief external affairs officer for Credit.org, a national nonprofit financial counseling agency. In a recent interview

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Reverse mortgage production metrics took a tumble in August

Finance of America, HECM, HMBS, HWmember, Longbridge Financial, Mortgage, Mutual of Omaha, New View Advisors, Reverse, Reverse Mortgage Daily /

Home Equity Conversion Mortgage (HECM) endorsements fell sharply in August, even as a handful of reverse mortgage lenders continued to dominate the market. The Federal Housing Administration (FHA) insured 2,062 HECMs in August, according to data compiled by New View Advisors that was released on Wednesday. That marked a 13% decline from July and the

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Taxing health care benefits could reduce the Social Security gap by 25%

Center for Retirement Research, HWmember, Mortgage, Retirement, Reverse, Social Security, Tax /

A new report suggests that counting the value of employer-sponsored health insurance (ESI) toward taxable wages could generate about $400 more in annual payroll taxes per worker, shrinking Social Security’s long-term funding gap by roughly 25% in 75 years.   The report published Tuesday by the Center for Retirement Research at Boston College concludes that the

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YouTubers set trap for crime ring targeting seniors, resulting in 25 arrests

Cybersecurity, FBI, HWmember, Reverse, Reverse Mortgage Daily, YouTube /

Federal agents have disrupted a long-running fraud scheme targeting seniors, arresting 25 members of a Chinese criminal gang over the past week. The twist? The agents were assisted by YouTubers who set and sprang the trap on the fraudsters, who are charged with stealing $65 million from seniors nationwide. The criminal group, made up of

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