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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…
FHA eliminated the Standard Fixed Rate HECM. So what loan are borrowers overwhelmingly choosing? A look at borrower behavior and motivations.
Continue readingThe 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 readingIt’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 readingAssumptions. 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 readingProduct 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 readingMost 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 readingRecently released numbers show a larger shortfall for the HECM portion of the MMI Fund.
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