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Yes. It’s come down to politicians in Washington threatening that seniors social security checks may stop if the debt-limit or ceiling is not raised by congress. Nice. But closer to home comes the possibility that if the limit is not raised by August 2nd, then FHA could cease operationsContinue reading
It’s much like tearing a band-aid off a wound. Do it slowly and it hurts much longer. Do it quickly and it hurts bad but the event is over quickly.  It appears that banks while foreclosing are holding off on putting them back on the market. The term to describe this is shadow inventory.Continue reading
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It’s nothing to gloat about. Quite frankly it came as a shock when Wells Fargo promptly exited stage right from the reverse mortgage business, especially for their employees. Two major banks departing is not a sign that the proverbial ship is sinking, nor are the remaining players Continue reading
Opportunity or omen? Wells Fargo exit from reverse mortgage sends shockwaves across the industry. Just what does it mean and what was Wells historic role in establishing reverse mortgages?
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How far will the AARP lawsuit stretch the definition of homeowner? Watch the video for Reverse Mortgage News and Commentary regarding the AARP lawsuit.
This week we focus on the real possibility of FHA reducing HECM lending limits for next year, the dangers of a reverse mortgage preventing Medicaid eligibility and our industry’s recent sales figures.
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More seniors are staying in their homes due to the economy. Also, the Consumer Protection Bereau releases a combination of GFE and Truth and Lightning Disclosures.
See the new disclosures at the links below:
New Disclosures
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Op-ed calls for lenders to pay for HUD counseling with recent budget cuts.
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