There is a very popular show on the National Geographic channel called “Doomsday Preppers”. While we are certainly not doomsday-res prepping for catastrophe we can prepare in part for changes to the reverse mortgage program expected later this year.
Continue readingIs this a Silver Lining?
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Borrowers overwhelmingly choosing Standard Adjustable. Why?
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HUD says the reverse mortgage program is generating positive cash flow. That’s good for the short term but does not erase the future liabilities to the mutual mortgage insurance fund for previous years books of HECM business which is expected to result in claims for property values under the final loan balance and tax and insurance defaults. In it’s recent quarterly report to congress, HUD reports that the reverse mortgage program is…
Surprise: What Loan are Borrowers Choosing?
FHA eliminated the Standard Fixed Rate HECM. So what loan are borrowers overwhelmingly choosing? A look at borrower behavior and motivations.
Continue readingBack to Basics
The reverse mortgage industry has the opportunity to return to basics. The opportunity to more toward a more traditional product mix of adjustable products with lines of credit or tenure payment…
Continue readingReverse Mortgage as a “Pension”?
It’s a bleak outlook for today’s retiree but there is a silver lining…the reverse mortgage. It may be a solution for retirees without a pension…
Continue readingAssumption Without Research?
Assumptions. That’s what one could surmise from the Consumer Financial Protection Bureau’s recent report on the use of professional designations in the senior market.
Continue readingSurvival of the Largest?
Product change and regulation are taking their toll on one business model: the small independent broker or lender. Smaller premium payouts and increased regulatory costs may cause some to consider joining…
Continue reading30 Years Ugly?
Most 24 year olds are considered in the prime of their life but what will they look like in 30 years? The 24 year old federally insured Home Equity Conversion Program created in 1989 is showing wrinkles and signs of premature aging…
Continue readingFund’s Shortfall to Shape Policy
Recently released numbers show a larger shortfall for the HECM portion of the MMI Fund.
Continue readingA Short Term Fix or Long Term Solution?
Does the HECM provide a long term solution or a short term fix to borrowers? That’s the question HUD officials will ponder as the shape the upcoming Financial Assessment
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