When you think about the best states for aging in place, the choice retirement destinations likely spring to the top of the list. After all, with high and growing populations of older residents, wouldn’t these states be an ideal place to call home in later life? Not according to a new report from Seniorly Resource […]
The best state to age in place is not where you think Read More »
The broader mortgage industry and the reverse mortgage subset have worked through a period of elevated interest rates for longer than anyone may have been expecting. Following a post-pandemic boom in volume fueled by Home Equity Conversion Mortgage (HECM) refinances, higher rates have served to restrict HECM volume, according to industry professionals and analysts. In
The proprietary reverse mortgage landscape is getting crowded Read More »
As the preference to age in place continues to dominate among those planning out their later lives, people actually living with the preference may find they need to make adjustments to certain parts of their routines to accommodate costs, access services and maintain social relationships. One key tool that might be able to assist with
How important is public transit for aging in place? Read More »
The dedicated reverse mortgage development workgroup inside the Mortgage Industry Standards Maintenance Organization (MISMO) has been working diligently for much of the past year to develop holistic support for reverse programs across new and existing MISMO subscribers. It’s also working to publish data in an industry-standard format to increase efficiency among stakeholders. George Morales, the
MISMO reverse mortgage workgroup chair on ‘building a bridge to the mainland’ Read More »
Roughly 56% of professional home remodelers in the U.S. reported taking on projects to facilitate a customer’s aging-in-place goals, according to findings from the National Association of Home Builders‘ (NAHB) Q1 2025 Remodeling Market Index (RMI). The survey first added questions related to aging in place beginning in 2004. The first-quarter 2025 results are the
NAHB: Remodeling for aging in place fell in Q1 but receptivity remains high Read More »
In compliance with a 1978 law that requires government agency watchdogs to provide semi-annual reports on their activities, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) published its report on Tuesday. While there were no new indications of scrutiny for the Home Equity Conversion Mortgage (HECM) program, the
HUD OIG reveals ongoing reverse mortgage oversight priority Read More »
With aging-in-place preferences generally dominant among older Americans, some cities and states are putting these preferences into action by providing additional support for people who want to remain in their homes. In New Jersey, these can range from tax incentives and veterans benefits to Medicaid, according to a recent report by NorthJersey.com. The so-called “silver
New Jersey seniors seek out home modifications to age in place Read More »
A former attorney in Washington state this week pleaded guilty in federal court to defrauding a disabled client out of an estimated $800,000 — in part through the misuse of a reverse mortgage, according to an announcement by the Department of Justice (DOJ) and the U.S. Attorney’s Office for the Western District of Washington. The
DOJ: Former attorney pleads guilty to wire fraud tied to reverse mortgage misuse Read More »
After embarking on an ambitious project designed to ease the technological processes and interfaces of the reverse mortgage industry compared to traditional mortgage workflows, the Mortgage Industry Standards Maintenance Organization (MISMO) announced this week that the latest version of its reference model includes reverse mortgage features. On Tuesday, MISMO announced that the new version has
New MISMO reference model includes reverse mortgages Read More »
For communities engulfed in the wildfires that took place earlier this year in the Los Angeles area, lives have been upended and additional strain has been placed on an already-stressed housing system in Southern California. But for wildfire victims who are also reverse mortgage borrowers, they may encounter problems stemming from a major disaster interacting