Reverse Mortgage News Archives - Page 101 of 111

September 2012 Top 100 HECM Retail Lenders

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Genworth made the jump from third to first while AAG & Security One Lending remain strong in the top 10 moving one notch. RMS made a huge jump from 40 in August to break the top 25 at 23rd position. Overall endorsement volume remains down year over year but lenders are growing rapidly due to consolidation and we should see further increased endorsements as former MetLife loan officers pipelines move through to endorsements in the coming months.

Walking away? Loan Fall Out

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Are potential reverse mortgage borrowers and applicants walking away from the loan or is it that they just don’t qualify? The question stems from a recent report from IBIS software which is tracking the number of HECM borrowers who receive counseling that actually end up with a closed loan. A first HECM counseling protocols were suspected by some as to why so many never closed a loan. But is that really what is happening? Other factors must be examined such as appraisal values, property conditions or just cold feet. Our video segment examines the numbers and possible causes and also reason to be optimistic in the future.

Turning the ship around

Certainly the reverse mortgage industry has garnered more legitimacy as a financial planning tool amongst financial professionals but we still have a long way to go. But what about those who don’t see the legitimacy or value? How do we turn the proverbial ship around? As our sales force becomes more educated…

Not Confused But Informed

Would a senior make perhaps the biggest financial decision of their life, with their largest asset in the midst of confusion and uncertainty and choose to take a reverse mortgage? Most likely not. But that was the impression the Consumer Financial Protection Bureau included in their required report to…

CFPB Consumer Financial Protection Bureau reverse mortgage borrowers

Consumers Union to CFPB: Only as a “Last Resort”

Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they recommend that a reverse mortgage be a loan of last resort when there is no other viable option and…

CFPB Consumer Financial Protection Bureau Consumers Union regulation

August 2012 Top 100 HECM Retail Lenders

August reveals some big movers in HECM lending. AAG (American Advisor’s Group) moved from #5 to the top spot and Security One Lending shot up from #7 to #4 ranking this month. MetLife went from #6 in August with 250 loans down to #42 this month as their pipeline of loans has mostly cleared….

Top 100 HECM Lenders Report

Required Pre-Education?

Require Pre-Education Before Counseling? One groups suggested to the CFPB that a ‘third party’ provide upfront education about the reverse mortgage BEFORE the borrower get’s HUD counseling or meets with a lender. Who would these ‘third parties’ be and who would supervise them?

CFPB consumer Regulations

Living Dangerously

Living dangerously? That’s exactly what millions of retirees are doing every day. How? By draining their existing savings account to meet living expenses or draining their nestegg to buy a home. It seems the norm for many senior Americans. Live on cash, don’t incur debt and keep your home free and clear. The issue with such thinking is that it leaves these individuals vulnerable to financial disaster.

Editorial retirement reverse mortgage borrowers seniors

Reverse Mortgage A Rite of Passage for Retirement?

Will Reverse Mortgages become the norm? According to one retirement expert getting a reverse mortgage may become common amongst future retirees. The shift to younger borrowers may be a result of more Americans reaching retirement only to wake up to the reality that their home is an essential and useful source of funds. The Consumer Financial Protection Bureau’s study…

retirement reverese mortgage industry

Appraisal Costs May Be Rising

The reverse mortgage industry has just came through some of it’s most challenging years. That said we may be facing a new challenge…one of supply and demand which could increase the cost of an appraisal substantially

Appraisal Appraisers reverse mortgage borrowers

September 2012 Top 100 HECM Retail Lenders

Walking away? Loan Fall Out

Turning the ship around

Not Confused But Informed

Consumers Union to CFPB: Only as a “Last Resort”

August 2012 Top 100 HECM Retail Lenders

Required Pre-Education?

Living Dangerously

Reverse Mortgage A Rite of Passage for Retirement?

Appraisal Costs May Be Rising

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