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.
The American mortgage market is surgically attached to the Federal government. What would bring private capital back into the reverse mortgage marketplace?
Continue readingWith 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 readingIt 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 readingIt’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 readingDownload 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.
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
Continue readingWith 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…
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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
Download your November Top 100 Retail HECM Lenders Report Here.
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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.
