The Federal Reserve has passed an interim rule (read more here) that effectively eliminates the controversial HVCC (Home Valuation Code of Conduct). Many originators and industry professionals agree that appraisal independence is needed but not on how to achieve that end. Without the HVCC will much really change? What are
The HECM Saver and continued low interest rates along with the lower PLF (Principal Limit Factor) floor of 4.99% have presented some opportunities for the coming year. The question is "what is your plan" for the coming year?
This week focuses on NRMLA’s recent advisory issued on ethical advertising. See some of the most obvious examples of “bad” advertising here (quite interesting) and the new guidelines. Weekly video recap updating professionals on industry changes in the reverse mortgage marketplace. [vimeo id=”15965803″ width=”601″ height=”338″]
If it seems like the purpose of this article is to throw ice water on the enthusiasm expressed in the industry about switching and higher proceeds, in small part it is. It is also to help originators understand how much a small increase in backend fees can mean to a
A bullish outlook for 2011… We have just finished perhaps two of the most challenging years the reverse mortgage industry has ever faced. The 2009 PLF (Principal Limit Factor) cuts, plunging home values and economic uncertainty have resulted in a 31% reduction in reverse mortgages for the fiscal year 2010.
Part 2 (Your thoughts after…) Last month (September 11th) brought the implementation of the Financial Interview Tool & Benefits Check Up (BCU) as part of HUD counseling for all reverse mortgage applicants. Please give us your thoughts (positive or negative) on this new protocol and questions to be covered. We
Weekly video recap updating professionals on industry changes in the reverse mortgage marketplace. Return here each Friday for new videos. [vimeo id=”15309785″ width=”601″ height=”338″] HUD Letter New Change In The FloorThis week was a game changer in the reverse mortgage industry when HUD announced a new change in the floor.