Commentary:
I read with great interest and anticipation just what our prospective borrower’s would face with HUD’s new counseling protocol which includes a Financial Interview Tool [Update: Shortly after writing this commentary the NCOA FIT & Benefits Checkup are no longer available without a secure login] . Reverse Mortgage Daily was kind enough to include the above-mentioned link in their article. Continue reading →

I couldn’t read this “journalistic” (too use the term loosely) hit piece (Six Problems the Consumer Financial Protection Bureau Should Tackle First) and not respond. Below is my letter to the editor of Time Magazine requesting a retraction…

Dear Editor,

As a reverse mortgage professional I am writing about your publication’s recent story published July 6th highlighting reverse mortgages as one of the six problem areas that the new Consumer Financial Protection Bureau needs to address. After reading my comments I would ask that your publication publish a retraction or correction in fairness to your readers who deserve the truth. Unfortunately, such retractions are much like trying to pick up feathers scattered in the wind.

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If a mental picture comes to mind for the reverse mortgage industry it is the character “Neo” in the Matrix leaning back impossibly as he dodges bullets in slow motion. The question is, have we as an industry just dodged a bullet with the recent approval of the $150 million Continue reading →

Oftentimes we speed read. You know, skim across an article. We get the message but we can miss clues pointing to future trends. My reading this week on Reverse Mortgage Daily while preparing for my podcast left me a bit perplexed and somewhat taken back. Some say that credit underwriting could be part of all reverse mortgages…
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