A Consumer Financial Protection Bureau study’s findings have stirred up a hornet’s nest in the reverse mortgage industry, with a response from that industry’s association president taking the issue head on.
Today the CFPB released the results of a study that found many consumers were left with the wrong impression after seeing reverse mortgage ads
Jean Noble of Reverse Mortgage Funding made it to Mortgage Professional America's Elite Women of 2015.
Findings also included those who sell reverse reported that the best thing about offering the product was the considerable growth potential with the aging baby boomer population.
While reverse mortgages are only available to a select group of consumers, the product still makes up a large portion of complaints received by the Consumer Financial Protection Bureau.
The FHA’s new budget reveals that the Obama administration is starting to see reverse mortgages as viable again.