Leaders at major reverse mortgage lenders express their commitment to further bolster forward mortgage partnerships in the new year January 3, 2025, 12:00pm by Chris Clow News > Reverse ...

On today’s episode, Editor Chris Clow talks about opportunities for reverse mortgage lending in 2025 and what the landscape looks like with a new administration coming in. Related to this episode: ...

The program itself started before 1961. The first U.S. reverse mortgage was issued in 1961 by the Deerfield Savings and Loan in Portland, Maine. Between then and 1988, when the federal government ...

How it works: A lending pro, financial advisor or other self-professed expert tells a homeowner that they can take out a reverse mortgage at 62 to get an income stream now and delay taking Social ...

Home equity is a valuable financial resource. By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 ...

When to consider a reverse mortgage Unlike a HELOC, a reverse mortgage serves as a longer-term solution. You can pull money from your home, often in a single lump sum or a series of payments.

On January 6, 2025, the CFPB filed a lawsuit against a non-bank manufactured home financing company for violations of the Truth in Lending Act and Regulation Z. The lawsuit alleges that the ...

The Consumer Finance Protection Bureau (CFPB) today filed a lawsuit against Vanderbilt Mortgage & Finance, a Tennessee-based multi-channel nonbank lender that originates loans for manufactured homes ...

For example, a loan with a 7% interest rate might have a 7.1% APR after accounting for the mortgage origination fee. Lenders must disclose your APR, as required by the Truth in Lending Act (TILA).

Case in point: Townstone Mortgage. Key Points The CFPB has asked a court to reverse a 2023 settlement it won against a mortgage lender accused of racial discrimination.

When to consider a reverse mortgage Unlike a HELOC, a reverse mortgage serves as a longer-term solution. You can pull money from your home, often in a single lump sum or a series of payments.