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Top Tips for Reverse Mortgage LOs Targeting Financial Planners

Reverse mortgage professionals may slowly be making inroads with financial planning contacts, but the industry agrees there’s still work to be done. Toward that end, there are several best practices originators can rely on to help forge relationships with financial planners, says one planner who is knowledgeable about the reverse mortgage product and is supportive of incorporating home equity-tapping tools into retirement plans. Leading edge, not bleeding edge Among the first bits of adv...
Tags: Featured, Education, Finance, Cloke, American College of Financial Services, Curtis Cloke, THRIVE Income Distribution System

Forbes: Forward vs. Reverse Mortgages in Retirement

Using a reverse mortgage to refinance an existing mortgage will create more financial flexibility for fixed-income retirees, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a member of the Funding Longevity Task Force, in a new piece at Forbes. “The general idea is that a reverse mortgage used primarily to refinance an existing mortgage creates more flexibility for distribution needs from the investment portfolio by removing a fixed...
Tags: Featured, Education, Finance, Forbes, HECM, Wade Pfau, Pfau, Funding Longevity Task Force, American College of Financial Services

Confronting Four Reverse Mortgage Misconceptions

An opponent of reverse mortgage products recently wrote two columns at Forbes discussing reasons that the business should be avoided, and that potential borrowers searching for ways to fund their retirements would be better served by exploring other financial options. RMD reached out to Professor Teresa Ghilarducci from The New School’s department of economics to expand on the points she made in a January Forbes article saying that reverse mortgages are “a bust” because a senior’s average hom...
Tags: Featured, Education, Finance, United States, Social Security, Forbes, CFPB, U S Census Bureau, Consumer Financial Protection Bureau, New School, Teresa Ghilarducci, John Lunde, Lunde, Boston College Center for Retirement Research, The New School, Reverse Market Insight

Abandoning the ‘Wild West:’ How Financial Advisors are Evolving on Reverse Mortgages

Evidence continues to mount concerning an evolving relationship between the reverse mortgage industry and fiduciarily responsible financial advisors. While there is still a stigma surrounding reverse mortgage products for a lot of those offering financial advice to their clients, RMD has seen evidence of forward momentum on the part of some organizations becoming increasingly willing to offer closer looks at housing wealth as a way to help clients make ends meet in retirement. “I’m aware of a...
Tags: Featured, Education, Finance, Cadillac, Cloke, American College of Financial Services, Curtis Cloke, THRIVE Income Distribution System

Forbes Offers Reasons to Avoid Reverse Mortgages

There are at least four major reasons that potential borrowers should avoid taking a reverse mortgage, according to economics professor Teresa Ghilarducci of The New School based in New York, N.Y. in a new column at Forbes. While admitting that reverse mortgages may work for some, she says that is not true of everyone. However, at least one reverse mortgage expert finds flaws in the reasoning behind some of the stated points. The first of her stated reasons to avoid reverse mortgages revolves...
Tags: New York, Featured, Education, Finance, Data, Forbes, New School, Teresa Ghilarducci, John Lunde, Lunde, The New School, Reverse Market Insight, Ghilarducci, Forbes While

NYC launches partnership network, “The Grid”, to help grow urban tech ecosystem

The New York City Economic Development Corporation (NYCEDC) and  CIV:LAB – a nonprofit dedicated to connecting urban tech leaders – have announced the launch of The Grid, a member-based partnership network for New York’s urban tech community. The goal of the network is to link organizations, academia and local tech leaders, in order to promote collaboration and the sharing of knowledge and resources. In addition to connecting member companies and talent, The Grid will host various events, e...
Tags: Security, Startups, TC, Internet Of Things, Accelerator, Real Estate, New York, Networking, Education, NYC, Finance, Government, New York City, Samsung, Tech, Policy

How Reverse Mortgages Can Help Millions More Americans

As the reverse mortgage industry continues to try and find new ways to expand business in the wake of difficult challenges that come with regulatory changes and generally reduced volume, one reverse mortgage loan officer was looking for an opportunity to share a novel idea in terms of a new marketing target for originations: people who primarily work on commission-based income, and by extension the millions of Americans who are self-employed. “This strategy actually came to me via a real esta...
Tags: Featured, Education, Finance, Donald Sutherland, Ira, Durham, Sutherland, National Association of Realtors, Realtor, Homebridge Financial Services, Homebridge, Marketing & Sales

Reverse Mortgage Professionals Find Optimism in ‘Crystal Ball’ for 2019

Reverse mortgage professionals are optimistic in their outlook for the industry over the course of 2019, and are encouraged by strong business results for January, along with the increasing prevalence of proprietary products and an heightening level of general conversation surrounding reverse mortgage products in general. That doesn’t mean, though, that optimism isn’t at least tempered by some of the setbacks that the reverse mortgage business endured in 2018. “My crystal ball has a lot of...
Tags: Featured, Education, Finance, Bank Of America, Wells Fargo, Mayer, Thorpe, Lenders, Giordano, Richard Thorpe, Resch, HECM, Shelley Giordano, Longbridge Financial, Finance of America Reverse, RMF

Forbes: Managing Costs and Credit of a Reverse Mortgage

For prospective reverse mortgage borrowers, there are strengths and weaknesses to be found either in immediate or delayed leveraging of the line of credit, and the borrower’s decision concerning a package of costs should be a conscious part of the equation. This is according to the latest in a series of pieces at Forbes by Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a member of the Funding Longevity Task Force. When examining the benefits to...
Tags: Featured, Education, Finance, Forbes, HECM, Wade Pfau, Pfau, Funding Longevity Task Force, American College of Financial Services

WashU announces donation from Square co-founder to grow engineering school

Washington University in St. Louis (WashU) announced today that its engineering school received its largest single donation in history. The donation was offered by Square co-founder and WashU alumni Jim McKelvey, for whom the school will be renamed, from the School of Engineering & Applied Science to The James McKelvey School of Engineering. WashU did not disclose the donated amount and historically does not disclose financial information. McKelvey has deep ties to his alma mater. McKelvey’...
Tags: TC, Science, Education, Finance, Funding, Stem, Tech, Engineering, Square, Universities, Computer Science, St Louis, Philanthropy, Jim Mckelvey, Valley, McKelvey

Top Opportunities in the New Era of Reverse Mortgages

The reverse mortgage industry is fully aware of the operational difficulties that extend from regulatory changes and reduced overall volume, but many in the industry also find themselves optimistic about the new kinds of opportunities there are in the current landscape of the business. This and more became clear over the course of a webinar on the topic of current reverse mortgage business realities, hosted Wednesday by RMD. “The market is still responding to policy changes HUD put in place i...
Tags: Featured, Education, Finance, Hud, Webinar, MetLife, Mayer, Thorpe, Bank of America Wells Fargo, Giordano, Richard Thorpe, Resch, Shelley Giordano, Longbridge Financial, Pfau, Finance of America Reverse

Investing, Real Estate, In-Game Ads: Sputnik ATX’s Third Accelerator

Austin—Startup accelerator Sputnik ATX has a picked five startup companies for its newest program, the third Sputnik has run. That includes software makers and entrepreneurs focused on investing, commercial real estate, advertising for gaming, and building websites.Founded in 2017, Sputnik ATX runs two programs annually, selecting a group of five startups that are seeking help with product development, mentorship, sales, and more. The accelerator gives each selected startup $100,000 to particip...
Tags: Startups, Accelerator, Texas, Technology, College, Retirement, Finance, Advertising, Employment, Sales, Trends, Startup, Tech, Investment, Website, App

Family Circle Magazine Touts Reverse Mortgage Possibilities

Reverse mortgage products are being described as the possible source of a “financial boost” for seniors with a need for supplemental income in a magazine primarily aimed at home economics and women’s interest topics, giving the supermarket shoppers who primarily buy the publication a little-seen perspective on home equity release. In an article titled “A Mortgage That Pays You” written by Paula Chin and found in Family Circle magazine (along with the print version of Better Homes and Gardens)...
Tags: Featured, Education, Finance, Social Security, Chin, NRMLA, Paula Chin, Better Homes and Gardens Chin

New York Times: Volatile Stock Market Hits Retirees Hardest

A turbulent stock market is already stressful for investors, but that stress can easily increase for older investors that are on the cusp of retirement. This is according to an article in the New York Times, written by personal finance reporter Tara Siegel Bernard with contributions by Dr. Wade Pfau of the Funding Longevity Task Force at the American College of Financial Services. The activity of the market in the early days of retirement investing can have a pronounced impact on the health o...
Tags: Featured, Education, Retirement, Finance, Data, New York Times, Bernard, Wade Pfau, Pfau, Michael Kitces, Funding Longevity Task Force, American College of Financial Services, Tara Siegel Bernard, Columbia Md, Pinnacle Advisory Group

Forbes: The Upfront and Ongoing Costs of a Reverse Mortgage

Prospective reverse mortgage borrowers looking to determine if the product is right for them can find a series of new pieces offering information on the upfront costs (origination fee, mortgage insurance premium and closing costs), ongoing costs related to the accrual of interest, spending options for a variable-rate Home Equity Conversion Mortgage (HECM) and details on the growth of a HECM line of credit in a series of new articles at Forbes. Dr. Wade Pfau, a principal at McLean Asset Manage...
Tags: Featured, Education, Finance, Data, Forbes, HECM, Wade Pfau, McLean Asset Management, Pfau, American College of Financial Services

Reverse Mortgages Could Gain Attention as Hopkins Moves to Carson Group

Financial planner, retirement income specialist and professor Jamie Hopkins has joined financial management company Carson Group as vice president of private client services and director of retirement research, as of January 1. Hopkins, a noted advocate for financial education in the retirement income space and prominent voice in the reverse mortgage community, will maintain his position as a member of the Funding Longevity Task Force at the American College of Financial Services. The Task Fo...
Tags: Featured, Education, Finance, Hopkins, Jamie, Task Force, Carson, American College, Shelley Giordano, Jamie Hopkins, Wade Pfau, RMD, Funding Longevity Task Force, Carson Group, Hopkins Moves to Carson Group, Carson Wealth Carson Group

Student debt: An American horror story

College went from being a beneficial step in a young person's life to a huge financial burden for decades into their life. Since the 1970s, the cost of education has gone up between 400–1200%, depending on the kind of school you go to. Can we turn it around? Only societal change — and a good hard look in the mirror — can really make college a better move for young Americans.
Tags: Video, Money, Education, Finance, Economics, Teaching, Capitalism, Innovation, Big Problems,

Home Equity, If Used, Offers Big Boost to Retirees’ Income

If converted to income, untapped home equity for seniors in the United States and 10 European countries could make for a significant supplement to retirement income, according to data released by the Urban Institute and highlighted in a blog post at the Boston College Center for Retirement Research (BCCRR). “The typical retired U.S. household has the potential to increase its retirement income by 35 percent,” the blog post writes, based on research conducted by Stipica Mudrazija and Barbara B...
Tags: Europe, Featured, Sweden, Education, Retirement, Finance, Spain, Data, United States, Boston College, Urban Institute, Center for Retirement Research, BCCRR, Stipica Mudrazija, Barbara Butrica

‘Understanding Reverse’ 2019 Refresh Accounts For New Business Realities

The 2019 edition of Understanding Reverse, the book used by industry personnel and consumers alike as an informative reference tool about reverse mortgage product offerings, features numerous changes which aim to paint a more accurate and lender-neutral picture of contemporary home equity utilization practices. These include reflecting increasing prevalence of proprietary products, the updated Home Equity Conversion Mortgage (HECM) lending limits for the year, additional details on lien seasonin...
Tags: Featured, Education, Finance, HECM, Dan Hultquist, NMLS, Hultquist, Understanding Reverse

The rise of (societal) resilience tech

If you follow millennials on Twitter (and god help you), then you know that Anne Helen Petersen’s piece this past weekend “How Millennials Became The Burnout Generation” struck a deep chord for many. It’s longform and detailed, but Petersen’s primary thesis is that my generation has been dumped into one of the worst moments for economic and social mobility in recent memory (global financial crisis, etc.), which has led us to massively over-optimize our lives to try to extract any value we can. B...
Tags: Startups, New York, Education, Climate Change, Finance, China, Tech, Policy, Morton, Petersen, Danny, Gremlin, Dan Abramov, Arman, Anne Helen Petersen, Even

Women Inspire NYC’s Tech Startups to Dream Bigger

As a native New Yorker, it may not come as much of a surprise that growing up I wanted to work in finance. In fact, I put myself through NYU Stern while working for companies like IBM, Prudential, and Merrill Lynch, and joined Goldman Sachs upon graduation.You could say I had made it in the finance world, at the epicenter of the industry, surrounded by some of the smartest and most driven individuals I’d ever known. But during my time in finance, I realized something: I am a creator, and there’s...
Tags: Startups, Transportation, Gender, New York, Jobs, Education, Entrepreneurship, Ebay, Finance, Trends, Banking, Vc, Culture, Venture Capital, Merrill Lynch, Silicon Valley

Diversity in Venture Capital: Scenes From Culture Shifting Weekend

While women and minorities make up 70 percent of the population, less than two percent of the tens of trillions of dollars in the asset management industry are entrusted to women or minorities.In recent years, gains have been made among women in venture capital. Diversity beyond gender, though, continues to lag. That’s part of the motivation behind Culture Shifting Weekend, an event that attracted about 200 attendees in New York City in early November.Fred Wilson of Union Square Ventures, who p...
Tags: Startups, Gender, New York, Students, Education, Microsoft, Entrepreneurship, Finance, New York City, Events, Trends, Diversity, Vc, Venture Capital, Union Square Ventures, Fred Wilson

Scared to trade stocks? Titan algorithmically invests for you

Titan could put an end to stock market FOMO. The app choose the best 20 stocks by scraping top hedge fund data, adds some shorts based on your personal risk profile, and puts your money to work. No worrying about market fluctuations or constantly rebalancing your portfolio. You don’t have do anything, but can get smarter about stocks thanks to its in-app explanations and research reports. Titan wants to be the easiest way to invest in stocks for a mobile generation who want an affordable coac...
Tags: Fundings & Exits, Startups, TC, Mobile, Facebook, Ecommerce, Apps, Education, Finance, Stanford, Funding, Tech, Sam Altman, Graham, Goldman Sachs, Stock Trading

NYC wants to build a cyber army

Empires rise and fall, and none more so than business empires. Whole industries that once dominated the planet are just a figment in memory’s eye, while new industries quietly grow into massive behemoths. New York City has certainly seen its share of empires. Today, the city is a global center of finance, real estate, legal services, technology, and many, many more industries. It hosts the headquarters of roughly 10% of the Fortune 500, and the metro’s GDP is roughly equivalent to that of Canada...
Tags: Security, Startups, Facebook, Accelerator, New York, Enterprise, Education, NYC, Finance, Government, Boston, New York City, Israel, Jerusalem, San Francisco, Tech

Unlocking the Full Potential of Women- led SMEs in Indonesia

In a recent East Asia Forum article, “Unleashing the capabilities of women-led SMEs in Indonesia,” author Naimah Talib reports that 43 percent of the 26 million small-to-medium enterprises (SMEs) in Indonesia are women led or women owned (WSMEs). Not only do these WSMEs make up for ten percent of the country’s GDP, they also lead to social development […]
Tags: Leadership, Education, Indonesia, Finance, Inspiration, Sales, Social Entrepreneurship, Culture, Innovation, Equality, Women In Business, Women's Issues, Global Trade, Women's Rights, International Business, Business Development

Working in Fashion: What It's Like to Be a Financial Analyst at a Luxury Handbag Company

The first part of the Working in Fashion Series. Find out what it's like to deal with the financial side of a world-renowned luxury handbag company!**Author's note: Due to the sensitive nature of working in finance, the handbag company in question will not be disclosed, and the name of the analyst has been changed. Responses in this article were also edited for clarity. View the original article to see embedded media. Hello CF readers! Today is the launch of our Working in Fashion series, where ...
Tags: Career, News, College, Finance, Fashion industry, Pink, North America, Handbags, Tupperware, Amanda, Steve Madden, Handbag, Tote Bags, Fashion Careers, Fashion Jobs, Luxury Handbag Company

Student Loan Crisis: Are Small Businesses Impacted?

Massive student loan debt is having a crippling effect on the U.S. economy. According to the United States Federal Reserve, 44.2 million students owe $1.52 trillion . This amount is growing by $29 billion a quarter. Student loan debt now surpasses all other forms of debt except mortgages. College debt exceeds what is owed for vehicle loans and on credit cards. There is no consensus on how this debt burden impacts small businesses; however, it must affect buying decisions. It also lowers credit ...
Tags: College, Finance, Sales, Marketwatch, Trump, U S Department of Education, Jim Rogers, Brookings Institute, United States Federal Reserve, Mark Kantrowitz, Congress and President Trump, Levy Economics Institute of Bard College, Robert Craig Baum, Parent Plus Federal, Public Service Loan Forgiveness Program Nerdwallet, DegreeQuery

Meet the speakers at The Europas, and get your ticket free (July 3, London)

Excited to announce that this year’s The Europas Unconference & Awards is shaping up! Our half day Unconference kicks off on 3 July, 2018 at The Brewery in the heart of London’s “Tech City” area, followed by our startup awards dinner and fantastic party and celebration of European startups! The event is run in partnership with TechCrunch, the official media partner. Attendees, nominees and winners will get deep discounts to TechCrunch Disrupt in Berlin, later this year. The Europas Awards are ba...
Tags: Health, Social, Food, Fundings & Exits, Startups, TC, Gadgets, Mobile, Gaming, Cloud, Ecommerce, Apps, Asia, Accelerator, Europe, London

Xconomy Roadmap 2018: Top 15 Innovation Areas to Watch

View the Slideshow With the first quarter in the books, it’s time to step back and lay out Xconomy’s editorial map for the rest of the year. As readers know, we strive to cover a wide range of innovation sectors, from tech and life sciences to healthcare and education—all with a mix of on-the-ground reporting, daily news stories, in-depth features and analysis, and events and conferences. It’s a daunting task, made more daunting by today’s short news cycles and media saturation on certai...
Tags: Security, Startups, Transportation, Leadership, Hardware, Education, Privacy, Finance, Cancer, Trends, Strategy, E-commerce, It, Cybersecurity, Vc, Artificial Intelligence

How a 25-Year-Old Woman Is Rebuilding the College Financial Aid Process, 1 Student at a Time

Getting into college is hard. But it is often even harder to figure out how you're going to pay your sky-high tuition, especially when the paperwork required to get what you're rightfully due is damn near impossible to decipher. Every year, billions of dollars of aid are left on the table unclaimed, all thanks to the long, hard, and confusing process that is the Free Application For Federal Student Aid, or FAFSA. Now, there's a new way to tackle one of life's most complicated undertakings - and...
Tags: Amazon, Money, Obama, California, College, La, Finance, New York City, Religion, Alabama, America, Tech, US news, Gop, Eva Longoria, Magic Johnson

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