Browsing: reverse mortgages

Mortgage

How banks can help older adults use the equity in their homes to provide another source of retirement funding.

Compliance

The Consumer Financial Protection Bureau yesterday issued a report describing several lenders’ reverse mortgage advertisements as confusing to seniors. Based on focus groups of seniors, the CFPB said several reverse mortgage ads inadequately disclosed that reverse mortgages are loans, offered incomplete or inaccurate information about loan terms and included illegible fine print.