The powerful lobying group AARP with it’s 38 million plus members has incredible clout in Washington DC. In a recent Senate hearing before lawmakers they suggested six changes to the federally insured reverse mortgage program.
Continue readingJune 2013 Top 100 Retail HECM Lenders Report
Download your June Top 100 Retail HECM Lenders Report Here.
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See who the top movers and shakers are in our ever-changing industry.
The True Cost of Waiting
With HUD’s lowering of the expected rate from 5.5% to 5.0% in 2010 we have smaller window of opportunity for borrowers who may choose to wait…
Continue readingThe Return of Origination Fees
The formerly profitable Standard Fixed Rate HECM is gone and has left many lenders wondering where to recoup profits. An examination why loan origination fees will return and how loan officers can prepare.
Continue readingReverse Mortgage Preppers
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 readingMay Top 100 Retail HECM Lenders Report
Download your May Top 100 Retail HECM Lenders Report Here.
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Some substantial movement in rankings was seen in last month’s endorsement numbers. See what your competition is doing and where your lender ranks.
Is 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…
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