With FHA’s mortgage portfolio showing and estimated negative $16 billion dollar balance after accounting for projected future losses the agency is in risk management mode. But with the HECM program possibly facing reduced loan to value ratios, or as we call them principal limit ratios, wouldn’t it be wise to reduce lending ratios for traditional FHA mortgage borrowers? Today, despite the housing crash and fragile market recovery, borrowers can pay a minimum of 3.5 percent down…
Continue readingSaving the Reverse Mortgage. What If?
[ad#Network Funding]
[vimeo id=”55127943″ width=”625″ height=”352″]
What if? That is pretty much all we can say as an industry about the certain and yet unknown changes to the federally insured HECM or reverse mortgage program. With an estimated future negative balance of 2.8 billion FHA finds itself in an awkward postion. One of defending the existence of the program before the Senate. Yes, some members of the Senate Committee on Banking Housing and Urban Affairs pushed the idea of suspending, yes stopping the program as a solution
November Top 100 Retail HECM Lenders
Download your November Top 100 Retail HECM Lenders Report Here.
[ad#Urban Financial Group]
Moves from #5 to #1 seem to be the trend as One Reverse Mortgage leapfrogged from #5 last month to the top spot in November. Security One Lending who was #1 in October is holding strong at #2. Greenlight Financial Services moved considerably up from #25 to break into the top ten at #10 in November while M&T moved from #19 to #9.
What You Need to Know About Appraisals: Our Exclusive Interview with Brian Coester
[ad#Network Funding]
[vimeo id=”54638174″ width=”625″ height=”352″]
We spoke with Brian Coester, CEO & founder of Coester Appraisals. We discuss if home values have really hit the bottom? Which markets are doing well and which are still struggling. The shadow inventory of foreclosures and banks releasing them into the market as well as how to help protect reverse mortgage borrowers from spending too much when their value is uncertain.
What’s going on in MY market?
[ad#Independence Housing Group]
[vimeo id=”54049922″ width=”625″ height=”352″]
In part two of our interview with Reverse Market Insight’s president John Lunde, we look at how you can get detailed information about your local reverse mortgage market. Who is my competition? How many loans are being closed in my area? These and other questions are answered.
Our Industry’s Trends & Outlook
We interviewed our industry’s top analyst John Lunde who is founder and President of Reverse Market Insight. RMI gathers and makes sense of industry data, market trends and much more. List as we discuss overall loan volumes, pull-through rates and our future.
Continue readingTitle tools, technology & current trends
We spoke with Allisa Scott Prieto of Premier Reverse Closings. Watch as we discuss new technologies, online title tools, off-site signings and closing ratios. Title companies like PRC do more than issue policies but also provide a wealth of research tools for the reverse mortgage professional.
Continue readingPart Two: The HECM Saver as a Tool: Interview with Dr. John Salter
It’s more just than a retiree ‘getting’ a reverse mortgage, it’s about using it strategically. In part two Dr. John Salter of Texas Tech discusses what a Monte Carlo simulation is, capital needs and retirement horizons. A great insight into the world of comprehensive financial planning.
Continue readingOctober 2012 Top 100 HECM Retail Lenders
Security One Lending shot from #5 last month to the top spot in October; a sure sign of their rapid expansion. AAG holds the #2 spot again yet showing …
Continue readingInterview with Dr. John Salter: HECM as a tool (Part 1)
Exclusive Interview: When it comes to the financial planning community, Dr John Salter of Texas Tech University has opened the door to using the HECM Saver as a legitimate financial planning tool. Part 1 of 2 of our exclusive interview.
Continue reading