Reverse Mortgage Daily magazine readers,
Today we are pleased to announce that HW Media acquired Reverse Mortgage Daily (RMD) from Aging Media Network, Inc.
Since RMD was founded by John Edinak in 2007, the publication has focused on being the industry’s leading news source, offering a down-to-earth, personal and independent look at reverse mortgages. The values and strategy promoted by the founders and the RMD team are perfectly aligned with the values and strategy of HW Media. RMD will continue to be the leading industry news source and its readers will benefit from the resources and lenses of the HW Media housing industry. I am very happy to work with RMD Editor Chris Clough bring this strategy to life.
“I am thrilled that the future of RMD is in the hands of HW Media and I am confident that they have the resources and commitment to take it to the next level,” said John Edinak, founder of Reverse Mortgage Daily.
You all know RMD well, so let me tell you a little about HW. I founded HW Media in 2016. acquisition of HousingWire… The business vision of HW Media was that we will create a multi-brand business media company focused on the real estate, housing finance and financial services market. HousingWire has proven to be the perfect foundation for this strategy, and over the past five years we have tripled our readership, launched exciting new editorial products and events, and built an incredible community of housing professionals. We also had the opportunity to launch and acquire new brands, including FinLedger as well as RealTrends…
When creating HW Media, part of my job is to hire and empower the best business media professionals to cover news, create content and serve our audience and clients. Another equally important priority is to have an idea of where the housing and financial services markets are heading and to ensure that we are strategically moving in the right direction. A trend that cannot be ignored is the aging of the population and its impact on the housing market.
Over the next 20 years, the percentage of Americans over 65 is expected to increase from less than 15% to over 20% of the population. But this growing demographic has a problem – the retirement wealth of the 401k Baby Boomers and IRAs are markedly lower than for those who survived the early baby boomers who saved for retirement through defined benefit plans. …
According to the Institute of Urban Studies, the proportion of homeowners aged 65 and over is around 80%. With underfunded pension savings mechanisms, equity capital may be one of the most important financial assets for financing a comfortable pension. I believe that HECM products will continue to grow in importance as a critical equity-raising tool for our aging homeowner population.
The combination of RMD and HW Media will not only support RMD’s ongoing independent coverage of the reverse mortgage market for reverse mortgage professionals, but will also help spread this knowledge to HW’s wider audience of forward mortgage and real estate professionals.