Mortgage executives believe reverse-mortgage products are a valuable tool to boost originations as the average age of homeowners is increasing and more seniors are looking for ways to take advantage of the equity in their homes.
AARP filed a class action against Celink and some of its clients, alleging they charged reverse mortgage borrowers onerous fees in violation of state and federal laws.
The AARP Foundation filed a class action lawsuit against Celink, Finance of America Reverse and Carrington Mortgage Services claiming that they unlawfully charged home equity conversion mortgage borrowers prohibited fees.
Industry groups recommended that FHA consider reverting the upfront mortgage insurance premiums on home equity conversion mortgages to the previous risk-based model.
Trade groups suggested improvements to Ginnie Mae’s reverse-mortgage securitization program, many of which were already included in a planned update the agency has gone quiet on.
The Mortgage Bankers Association and the National Reverse Mortgage Lenders Association requested that Google modify its rules to permit advertising FHA home equity conversion mortgages to seniors.
The Department of Housing and Urban Development wants to know whether any statutory changes could improve the programs. Meanwhile, there is no update on the HMBS 2.0 product proposed last year.
Endorsements of FHA home equity conversion mortgages fell overall in the second quarter of 2025, although purchase HECMs saw double-digit gains. (Includes three data tables.)