The US government got a slap of reality when S&P (Standard & Poors) downgraded the nation’s credit rating. How does this effect the secondary (investor) market for HECMs (reverse mortgages)?
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HUD’s now suing Wells Fargo & Fannie Mae for their foreclosing on reverse mortgage borrowers. Did HUD open Pandora’s box with their recent mortgagee letter?
Continue readingReverse mortgage marketing should therefore always be an appeal to independence, never frailty or fear. No one becomes a senior overnight because they celebrate a birthday. That might work for coming-of-age, but after 21, we’re all simply adults. Some just have more life experience.
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With the rapid-fire changes facing our industry, it’s easy to fall into the trap of letting fear stop us from meeting our goals or making positive changes in our business. Here are a few practical ways we can move forward.Continue reading
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Working from home has it’s unique advantages and challenges. Here are five practical tips you can use to increase efficiency….yes some apply if you work in an office as well.Continue reading
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To get a grasp of the impact of the upcoming Financial Assessment guidelines for reverse mortgage borrowers we must begin asking (if we’re not already) some simple questions. Do you know your borrower’s income, debt payments and assets? Learn why this is imperative to be fully prepared as a professional.
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Yes. It’s come down to politicians in Washington threatening that seniors social security checks may stop if the debt-limit or ceiling is not raised by congress. Nice. But closer to home comes the possibility that if the limit is not raised by August 2nd, then FHA could cease operationsContinue reading
It’s much like tearing a band-aid off a wound. Do it slowly and it hurts much longer. Do it quickly and it hurts bad but the event is over quickly.  It appears that banks while foreclosing are holding off on putting them back on the market. The term to describe this is shadow inventory.Continue reading
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Getting prospective borrowers to act is about motivating them to move forward when a reverse mortgage is in their best interest. Here are just a few tips to help:Continue reading
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It’s nothing to gloat about. Quite frankly it came as a shock when Wells Fargo promptly exited stage right from the reverse mortgage business, especially for their employees. Two major banks departing is not a sign that the proverbial ship is sinking, nor are the remaining players Continue reading
