ABN AMRO makes its second foray into reverse mortgages in a month, suggesting these equity release loans will become the next to be securitized.
ABN AMRO’s private equity business in Australia has purchased a 39.2% stake in non-conforming lending specialist, Bluestone Group. The deal comes just a week after ABN AMRO’s wholesale bank launched its own [...]

Amendments at a glance …
By The Associated Press
Texas voters decided nine proposed state constitutional amendments Tuesday. Here is a look at the election outcome:
-Proposition 7: Authorizes line-of-credit advances under a reverse mortgage so homeowners age 62 or older can borrow against the equity in their homes without taking a lump-sum loan or fixed monthly advance. [...]

WASHINGTON, D.C. - For a fifth consecutive year, lenders originated a record number of federally insured reverse mortgages, and the volume of borrower applications being processed is even higher, according to the National Reverse Mortgage Lenders Association.
During the most recent federal fiscal year, ending September 30, the Federal Housing Administration (an arm of the Department [...]

Drawing a line on loans
Measure would allow line-of-credit advances for seniors
By DAVID KOENIG
Associated Press
DALLAS - Reverse mortgages in which seniors borrow against the equity in their homes are available everywhere, but the most popular form of the loan, a line of credit, is prohibited in Texas.
The ban on line-of-credit advances could be lifted if voters [...]

Researchers with the University of Minnesota School of Public Health show that as many as 28 percent of the post-World War II generation, also known as baby boomers, will not have enough money to pay for basic retirement expenses. That includes long-term health costs, including treatments for cancer or Alzheimer’s disease.
The state could wait for [...]