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Nearly two-thirds of seniors are unhappy with Social Security checks

HECM, HWmember, Retirement, Reverse, Senior Citizens League, Social Security /

Nearly two-thirds of retirees are dissatisfied with Social Security benefits, according to a new survey conducted by The Senior Citizens League (TSCL). The average monthly Social Security check reached north of $2,000 this year, according to the survey, with just 10% of the 1,920 respondents saying they were satisfied with that amount. Roughly 63% reported […]

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The top 10 reverse mortgage LOs in the country

Finance of America, HECM, HWmember, Loan Officer, Mortgage, Movement Mortgage, Mutual of Omaha Mortgage, PHH Mortgage Corp, Reverse /

On Wednesday, Reverse Mortgage Daily (RMD) brought you a ranking of the top five reverse mortgage loan originators in America. Today, we’ll round out the rest of the top 10 based on data from mortgage recruiting software provider Modex. #6: Jacob Flax, Caliver Beach Mortgage, $76.17 million The third member of the Caliver Beach Mortgage

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Meet the top 5 reverse mortgage originators in America

California, Finance of America, HECM, HWmember, Loan Officer, Nationwide Equities, Origination, Reverse /

Over the past 12 months, Jason Stultz of Caliver Beach Mortgage has been on quite a hot streak. The Maryland-based mortgage broker has originated roughly $193 million in reverse mortgages in that time — easily the most production of any LO in the industry, according to mortgage data platform Modex. Per Modex, a significant chunk

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Most Americans retire without a savings withdrawal plan

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Almost two-thirds of Americans say they worry more about running out of money in retirement than about dying — and for many, that fear may become a reality. According to a survey from retirement technology firm IRALogix, about half of America’s retirees don’t take any systematic approach to withdrawing their many billions of dollars in

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Mutual of Omaha expands proprietary reverse mortgage offering

HECM, Home Equity, HWmember, Lenders, Mortgage, Mutual of Omaha Mortgage, Reverse /

After launching a new proprietary loan product this spring, one of the nation’s leading reverse mortgage lenders has expanded the offering this week to more states. Mutual of Omaha Mortgage announced on Friday that its SecureEquity+ product, which became available in April to eligible California and Florida residents, is now available in 12 additional states.

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Colorado officials push to save property tax breaks for seniors

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Government officials in Mesa County, Colorado, urged state legislators in an open letter this week to preserve a property tax exemption for older adults and disabled veterans amid the state’s ongoing budget constraints. Colorado’s senior property tax exemption, which has been in place for the past 25 years, cuts 50% from the first $200,000 of

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Longbridge COO Bill Packer on how technology is influencing workflows

Artificial Intelligence, HWmember, Longbridge Financial, Reverse, Technology, Underwriting /

Editor in Chief Sarah Wheeler sat down with Bill Packer, chief operating officer at Longbridge Financial, to talk about the ways his company is using AI to serve reverse mortgage borrowers. Packer has worked in the consumer lending space for four decades, with deep expertise in technology and operations. This interview has been edited for

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The bank of mom and dad can strain retirement

Baby Boomer, Gen X, Gen Z, HWmember, Millennials, Mortgage, Retirement, Reverse /

The failure-to-launch trend that started with millennials is continuing with Gen Z, and many are turning to parents for assistance, according to a new column by Bloomberg. According to a 2024 Bank of America study, over half of adult Gen Zers reported that they don’t pay for their own housing. A separate study by Savings.com found

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In Northern Virginia, senior housing has a supply-and-demand ‘disconnect’

Affordable housing, Aging in Place, HUD, HWmember, Rental Assistance, Retirement, Reverse, Virginia /

It’s no secret that low-income housing options are in short supply across much the country. And a report this week out of Fairfax County, Virginia, illustrates the challenges that seniors can face when trying to find subsidized housing. Fairfax County, which borders the District of Columbia and is home to about 1.1 million residents, is

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Housing market slowdown hits retirees long after they’ve sold

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In 2020, Arlene Kohen, an 89-year-old widow, moved into Harborside, a luxury continuing-care retirement community in Long Island, New York. She paid a $945,000 entrance fee and $5,700 per month, with Harborside promising to refund 75% of the entrance fee upon death or departure. But after struggling financially and filing for bankruptcy three times, Harborside

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