Reverse Mortgage Leads
Reverse mortgage leads acquisition costs have skyrocketed. Just how do you manage and reduce your lead cost per funded loan? Continue reading
Senator McCaskill waxes eloquent on reverse mortgages.
Senator McCaskill On Reverse Mortgages
Senator McCaskill discusses whether or not lenders have the best interest of seniors in mind.
Can HECM Regulators Act Unethically Toward the Reverse Mortgage Program?
Tell the woman who can no longer obtain a reverse mortgage because the program benefit cuts prevent her from getting rid of her conventional mortgage (she never could afford)-that Washington supports the program; Tell the man who desperately needs the reverse mortgage and yet was turned down because underwriting guidelines prefer that the properly executed power of attorney be called into question by an artificial standard-that Washington supports the program
Continue readingFox Business: Fair & balanced on reverse mortgages?
We’ve suffered an onslaught of ignorant, misinformed and adversarial articles in the media from so-called “experts” and “journalists”…
Continue readingHUD’s new Financial Interview Tool: Will it prevent borrower problems?
Commentary:
I read with great interest and anticipation just what our prospective reverse mortgage borrowers 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.
Time Magazine: Another ignorant smear piece on reverse mortgages
I couldn’t read this “journalistic” (too use the term loosely) hit piece (Six Problems the Consumer Financial Protection Bureau Should Tackle First)Â 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.
Did we just dodge a bullet?
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 readingWill HECM require credit underwriting in the future?
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…
Continue reading
Fixed rate is popular, but is it the best loan for your client?
The fixed rate HECM is wildly popular and now many banks are eliminating fees for consumers. The question is are we fully informing our borrowers about the advantages and disadvantages of the fixed versus the adjustable rate?
Continue reading