Reverse mortgage

PRMG Hires Ellen Skaggs as New HECM Divisional Manager to Help Seniors Benefit from Reverse Mortgages

Retrieved on:

Monday, May 1, 2023

Ellen has 38 years of experience in the mortgage industry, 16 of which she has specialized in reverse mortgages.

Key Points:

Ellen has 38 years of experience in the mortgage industry, 16 of which she has specialized in reverse mortgages.
"With Ellen at the helm of our HECM division, PRMG is well-positioned to help seniors unlock the full potential of their home equity."
With Ellen's leadership, PRMG is committed to helping seniors and their families make informed decisions about reverse mortgages and enjoy the many benefits this financial product offers.
As the new HECM Divisional Manager, Ellen will oversee the company's Home Equity Conversion Mortgage (HECM) division, which specializes in reverse mortgages.

Guild Mortgage Expands Reverse Mortgage Division

Retrieved on:

Friday, March 17, 2023

Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, added an experienced reverse mortgage leadership team to expand its reverse mortgage division through its recent acquisition of Cherry Creek Mortgage .

Key Points:

Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, added an experienced reverse mortgage leadership team to expand its reverse mortgage division through its recent acquisition of Cherry Creek Mortgage .
Based in Colorado, Cherry Creek is a privately held top 10 reverse mortgage lender, as ranked by Reverse Mortgage Insight.
The division will use Guild’s large existing retail team in some 300 branches throughout the U.S. to expand reverse mortgage offerings to more borrowers nationwide.
“The acquisition of Cherry Creek Mortgage and its reverse mortgage division continues to align with our customer for life strategy,” said Guild president Terry Schmidt.

Fairway Independent Mortgage Corporation Adds Veteran Reverse Industry Educator Craig Barnes; Names New President of Reverse Lending, Tane Cabe; Promotes Reverse Executive Team

Retrieved on:

Tuesday, February 21, 2023

CRMP, Human, HECM, Real estate agent, National Reverse Mortgage Lenders Association, MetLife, EVP, RMF, Empowerment, LO, Barnes, Policy, Reverse mortgage, Learning, Communication, Environment, Real estate, Fairway, Marketing

MADISON, Wis., Feb. 21, 2023 /PRNewswire/ -- Fairway Independent Mortgage Corp. today took key next steps to evolve reverse mortgage origination across its network.

Key Points:

MADISON, Wis., Feb. 21, 2023 /PRNewswire/ -- Fairway Independent Mortgage Corp. today took key next steps to evolve reverse mortgage origination across its network.
Leading the charge will be newly named President of Reverse Lending, Tane Cabe.
"The key to efficiency in closing is clean files, and the key to clean files is excellent training.
Craig also is an educator for the National Reverse Mortgage Lenders Association (NRMLA) and assists in certifying reverse mortgage professionals with the CRMP program.

Nearly 90% of Seniors Think the United States is Experiencing a Retirement Savings Crisis

Retrieved on:

Wednesday, February 15, 2023

AAG, Insurance, Reverse mortgage, Retirement, American Advisors Group, HECM, National Reverse Mortgage Lenders Association, Weather, Tax, Ageing, Life insurance, Bank

IRVINE, Calif., Feb. 15, 2023 /PRNewswire/ -- Fearful of outliving their savings, many older homeowners are making difficult lifestyle choices to cut expenses, according to new data from American Advisors Group (AAG). Despite inflation and economic concerns, some seniors have managed to weather the storm without making lifestyle changes. However, some seniors have had to cutback. To learn exactly how seniors are feeling AAG, a national leader in home equity solutions for seniors, conducted the Retirement Savings Crisis Survey, with over 1,500 participants ages 60-75 across the U.S., to gain more understanding.

Key Points:

Despite inflation and economic concerns, some seniors have managed to weather the storm without making lifestyle changes.
To learn exactly how seniors are feeling AAG, a national leader in home equity solutions for seniors, conducted the Retirement Savings Crisis Survey, with over 1,500 participants ages 60-75 across the U.S., to gain more understanding.
"The retirement savings crisis is a real thing.
The data show that seniors are feeling economic strain, and some are fearful that they will outlive their savings.

Top Mortgage Bank Fairway Independent Mortgage Elevates Reverse Mortgages into the Mainstream with "Fairway Reverse 2.0"

Retrieved on:

Monday, January 30, 2023

RMI, NCCC Mall VP, Culture, Operation, National Directorate of Intelligence and Prevention Services, Perspiration, HECM, Purchasing, Communication, Bank, Real estate, Reverse mortgage, Fairway, Support, Reverse

Fairway plans to invest unprecedented resources in their Reverse Mortgage channel.

Key Points:

Fairway plans to invest unprecedented resources in their Reverse Mortgage channel.
To drive this initiative, Fairway is launching a new Reverse Advisory Council, comprised of top leadership from Sales, Operations, and Support, to lead on Reverse Mortgage production.
Fairway is the company to lead the charge in Reverse Mortgages, changing the lives of retirees throughout the nation."
According to RMI data for 2022, Fairway was the #3 Retail Reverse Mortgage lender in the country, and #1 in HECM for Purchase.

Three in Four Generation X Adult Children Want Their Parents to Retire in the Comfort of Their Own Home *

Retrieved on:

Friday, October 14, 2022

IRVINE, Calif., Oct. 14, 2022 /PRNewswire/ -- Inflation and current economic conditions are creating problems for senior Baby Boomers, and new data from American Advisors Group (AAG) show that many of their Generation X (Gen X) children are not emotionally or financially prepared to care for them in their later years. To learn exactly how Gen X adult children are feeling, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.

Key Points:

AAG's Adult Children Survey Shows Generation X Adult Children are Not Emotionally or Financially Prepared to Care for Their Parents in Later Years.
"The retirement savings crisis is real, and many Gen X adult children are telling us that caring for their parents will be extremely difficult and potentially unattainable."
The data show that Gen X adult children are not emotionally or financially prepared to care for their parents:
Roughly three in four adult children want their parents to age in the comfort of their own home.
Half of Gen X adult children in the U.S. do not know how much debt their parents have amassed.

Over 50% of Generation X Can't Afford to Help their Senior Parents, According to AAG Survey

Retrieved on:

Tuesday, August 9, 2022

Association, Ageing, American Advisors Group, National Reverse Mortgage Lenders Association, Gen, Data, Adult Children, Parent, Retirement, Adult, Tax, Safety, AAG, Insurance, Reverse mortgage, HECM, Toy, Residential care

IRVINE, Calif., Aug. 9, 2022 /PRNewswire/ -- Inflation and current economic conditions are creating problems for senior Baby Boomers, and new data from American Advisors Group (AAG) shows that those financial issues could become a problem for their Generation X (Gen X) children. To learn exactly how Gen X adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.

Key Points:

The Data Shows that Gen X is Worried About their Baby Boomer Parents:
Over half of Gen X adult children do not have enough money to help their senior parents.
55% of adult children said they are not financially prepared to care for their parents in a time of need.
Over a third of Gen X adult children are worried their parents' financial issues will fall on them.
Over half of Gen X adult children are not able to afford any type of elder care for their parents.

Over 60% of Adult Children Say Inflation is Hurting Their Senior Parents, According to AAG Survey

Retrieved on:

Wednesday, July 20, 2022

Association, Insurance, American Advisors Group, National Reverse Mortgage Lenders Association, Adult Children, Ageing, Parent, Reverse mortgage, Hardship, Retirement, Adult, Safety, Tax, HECM, AAG, Tutoring, Toy, Residential care

IRVINE, Calif., July 20, 2022 /PRNewswire/ -- Current economic conditions have many seniors struggling to afford their later years, and new data from American Advisors Group (AAG) shows that their hardship is causing stress among their older aged children. To learn exactly how American adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.

Key Points:

To learn exactly how American adult children are feeling about their parents' financial state, AAG, a national leader in home equity solutions for seniors, conducted the Adult Children Survey with over 1,500 participants ages 40-55 who have senior parents.
The Data Shows Adult Children Are Worried About their Senior Parents Financially:
The majority of adult children are concerned that inflation is hurting their parents' situation.
62% of adult children say they are worried about the impact that inflation is having on their parents' finances.
50% of adult children say they plan for their parents to move into their house in their later years.

Global $5.25+ Billion Reverse Mortgage Providers Markets Forecast to 2029 - ResearchAndMarkets.com

Retrieved on:

Monday, May 9, 2022

Construction & Property, Residential Building & Real Estate, COVID-19, Reverse mortgage, CAGR, Oil, Real estate

The "Global Reverse Mortgage Providers Market, Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

Key Points:

The "Global Reverse Mortgage Providers Market, Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
From a global perspective, this report represents the overall Reverse Mortgage Providers market size by analyzing historical data and future prospects.
Market Revenue of the Reverse Mortgage Providers Market from 2017 to 2029.
Market Forecast for the Reverse Mortgage Providers Market from 2021 to 2029.

Single Seniors Are Struggling to Retire According to AAG Survey

Retrieved on:

Tuesday, April 19, 2022

Social Security, Association, Ageing, American Advisors Group, AAG, Reverse mortgage, National Reverse Mortgage Lenders Association, Insurance, Tax, Safety, Retirement, Income, HECM, Life insurance, Health insurance

IRVINE, Calif., April 19, 2022 /PRNewswire/ -- Inflation and the current economic climate have put a financial strain on older Americans, and new data from American Advisors Group (AAG) shows that unmarried seniors are the most affected. To learn exactly why single seniors are struggling to afford their retirement years, AAG, the nation's leader in home equity solutions for seniors, conducted the Modern Retirement Survey with over 1,500 participants ages 60-75.

Key Points:

To learn exactly why single seniors are struggling to afford their retirement years, AAG, the nation's leader in home equity solutions for seniors, conducted the Modern Retirement Survey with over 1,500 participants ages 60-75.
The Data Shows Single Seniors Have a Harder Time Retiring:
Single seniors are less comfortable with their current financial state and have more desire to increase their cash flow.
46% of single seniors said they need to increase their monthly cash flow as compared to only 32% of married seniors.
44% percent of single seniors said they have less money than they thought they would have as compared to just 32% of married couples.