Consumer advocates are once again calling for stricter oversight of the reverse mortgage business, with one declaring the product should only be used as a last resort.

The senior staff attorney for Consumers Union, Norma Garcia, said the product is very risky and should be used only by those seniors who have no other alternatives to supplement their income.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.