Is the Home Equity Conversion Mortgage or federally-insured reverse mortgage in critical condition? One could argue that projected losses of the HECM portion of FHA’s insurance fund are just that…projected and not realized. Whether real or expected FHA is taking strong measures to -quote- fix- the program
Continue readingWhere will the marketing dollars come from?
With the Standard Fixed Rate HECMs no longer available for case numbers issued on or after April 1st…yes April Fool’s day… a prime source of marketing dollars will go away…
Continue readingDear John…
FHA’s Mortgagee Letter 2013-1 was a “Dear John” letter to the Standard Fixed Rate HECM…
Continue readingJanuary 2013 Top 100 Retail Lenders
Download your January Top 100 Retail HECM Lenders Report Here.
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Does the first month of 2013 foreshadow rankings for this year? While the top 10 remains relatively unchanged from December the impact of the fixed rate suspension will not show until later this year.
Joined at the hip: The need for private capital in mortgage lending
The American mortgage market is surgically attached to the Federal government. What would bring private capital back into the reverse mortgage marketplace?
Continue readingRegulations Changing Practice & Behavior
With the recently released final rules for loan officer compensation and the expected suspension of the standard fixed rate HECM product government agencies have drastically changed the motivations and interaction between mortgage lenders and borrowers. First loan officer compensation…
Continue readingChopped? Standard Fixed Rate Days Are Numbered
It appears the super sweet fine grain sugar of the standard fixed rate is flying off the shelves and it’s return is uncertain. Brokers, lenders and loan officers are now faced with selling a new product mix and perhaps focusing on a new breed of borrowers.
Continue readingWhere Else Would They Go?
It’s difficult to stand and keep taking punches from a largely misinformed media when it comes to reverse mortgages. On December 20th the Wall Street Journal published a Peter Bell (NRMLA President) response to an article the week before…
Continue readingDecember 2012 Top 100 Retail Lenders
Download your December Top 100 Retail HECM Lenders Report Here.
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2012 is over and what a year it was! Liberty Home Equity (formerly Genworth Financial) moved from #3 to the top spot while New Day & Associated Mortgage broke the top ten ranks this month. 2012 was a year of consolidation and the emergence of new players.
What just happened? A look behind the scenes.
Even though HUD telegraphed their intentions to make substantial changes to the reverse mortgage program many today are in a state of shock. Here’s brief look behind the scenes courtesy of NRMLA’s special bulletin. First, our industry has been very active in working with those shaping policies for the HECM program. NRMLA and others have been working tirelessly
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