File this one under “bad financial management ideas.” Fidelity Investments Life Insurance Co. forecasts rising use or reverse mortgages by Baby Boomers–in part to support their lifestyles. Stephen Deschenes, an executive vice president at Fidelity, tells Investment News are more aggressive in the way they use financial assets, and less frugal than generations that came before. “When you think about the baby boomers burning the candle at both ends, [will they tap] their home equity to eat out more often? I think [so] absolutely,” he told the magazine, which circulates to financial planners. Reverse mortgages–available to homeowners age 62 and higher–are gaining popularity quickly as a way to tap home equity and stretch retirement income.

The Federal Housing Adminstration reports this week that originations totaled 76,276 in the 12 months ended September 30th last year compared with the previous 12-month period. That number is based on the number of loans insured by FHA (around 90 percent of the total market). Countrywide Financial Corp. jumped into the market this week. Wall Street Journal coverage is here. Other major players already there include Bank of America, Wells Fargo and others.

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