Outdated mobile homes that were built before the implementation of modern construction and safety standards in the 1970s can still be found across the country. Seniors living on fixed incomes often own these homes and don’t have a practical solution for replacing them. That’s where Bill Smith comes in. For the past decade, Smith — […]
Outdated manufactured home? This reverse LO could save the day Read More »
The line between reverse mortgages and home equity sharing products got a little blurrier on Thursday when a Ninth Circuit Court of Appeals panel reversed a lower court’s dismissal order in a proposed class-action suit against Unison. The opinion found that the plaintiffs suing Unison have shown that their arrangement with the company amounts to
Appeals court throws curve ball in potential class-action suit against Unison Read More »
The U.S. Department of Housing and Urban Development (HUD) is cleaning up its books and auctioning off roughly $444 million in reverse mortgages on Wednesday to reduce the risk to its Mutual Mortgage Insurance (MMI) Fund. The sale includes about 1,600 Home Equity Conversion Mortgages (HECMs) tied to vacant single-family homes where the borrowers are
HUD is auctioning off 1,600 HECMs — with more to come Read More »
Finance of America (FOA) continued its recent streak of growth in the second quarter of 2025, funding $602 million in mortgages and producing $80 million in net income. FOA, one of the nation’s leading reverse mortgage lenders, exceeded the top end of its stated quarterly guidance for investors as the $602 million in volume from
Finance of America reports $80M profit, buys out Blackstone Read More »
The reverse mortgage market appeared to recover in July after dipping in June, according to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI) that was released late last week. HECM endorsements rose 5.6% in July to 2,369 loans, the highest level recorded since February 2025. HECMs also saw regional gains
HECM endorsements rise to highest level since February Read More »
The American dream of homeownership has been a way to build wealth for decades as people pay down their debt while their homes appreciate in value. The result is a nice home equity nest egg — especially for seniors who have owned homes for many years. But an outdated tax law could claw back much of
Outdated tax law could cost senior homeowners looking to sell Read More »
After a public backlash against the Social Security Administration (SSA) earlier this year, the federal agency said it would walk back some of its plans that would’ve required more beneficiaries to make in-person office visits. But a report released this week by the Center on Budget and Policy Priorities (CBPP), a nonpartisan research group, counteracts
Social Security beneficiaries could soon face more hurdles Read More »
Longbridge Financial, one of the nation’s leading reverse mortgage lenders, on Tuesday announced the hiring of Azita Guzzo as its new head of technology innovation. Guzzo will fill a newly created role at Longbridge. She’s being tasked with the development of advanced technology solutions for enhanced customer service and improved operational efficiency. “Azita’s deep expertise
Longbridge hires Azita Guzzo to head up tech innovation efforts Read More »
Amid increasing levels of mortgage fraud, the FBI has renewed a warning to Americans about an app that could trick victims into losing their entire banking, savings, retirement or investment accounts. The FBI first issued a public service announcement on the Phantom Hacker scam in September 2023. But on July 15, the bureau’s Los Angeles
FBI reissues warning on scam that wipes out bank accounts Read More »
As the U.S. population ages, many families are facing long-term care (LTC) issues. Most families either pay for it out of their savings or spend down these savings until they qualify for Medicaid. But there’s a group stuck between the two — those who are too “rich” for Medicaid benefits but not wealthy enough to
Long-term health care costs are exploding. A reverse mortgage could help Read More »