A Paradigm Shift in Home Equity has begun. The iconic American dream and home ownership have become so intertwined it is difficult to separate the two.
Continue readingMaking the Complex Simple…
The reverse mortgage is deceptively simply to the casual observer and even loan professionals. As we know under the surface the product is quite complex.
Continue readingNew Bill Would Grant FHA Authority to Make Changes
The newly introduced “HECM Stabilization Act of 2013”, or Senate Bill 469, would give FHA the Congressional authority to make sweeping changes to the federally-insured reverse mortgage program.
Continue readingThe Must Stay
Reverse Mortgages Must Stay to Meet Demand. With the words of one senator asking why not stop the reverse mortgage program ringing in our collective ears, it is comforting to hear that housing experts see things differently. The Bipartisan Policy Center Housing Commission…
Continue readingFebruary Top 100 Retail HECM Lenders Report
Download your February Top 100 Retail HECM Lenders Report Here.
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#1 Security One is establishing their place as the nation’s top retail reverse mortgage lender while Maverick Funding broke the top ten landing #10.
A Legitimate Need?
A Legitimate Need? That may be what borrowers need to show when requesting a draw from their reverse mortgage. Yes, the suspension of the standard fixed rate HECM will dramatically reduce those choosing to take a lump sum withdrawal
Continue readingIn Critical Condition or Stabilizing?
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 readingRedefining HECM
Here’s another definition of H.E.C.M. that is the key to us being successful business people. Hungry, Energetic, Convinced, Masterful. Hungry…hungry for…
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…
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