The fixed rate HECM is wildly popular and now many banks are eliminating fees for consumers. The question is are we fully informing our borrowers about the advantages and disadvantages of the fixed versus the adjustable rate?
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Monitoring Mortgage Underwriting The Federal Housing Administration, the government agency that insures a bigger and bigger portion of home loans, plans to rely more heavily on lenders to police mortgage brokers.
It’s important to be informed of the new HUD Counseling Requirements, and to pass the information along to your reverse mortgage clients. Watch the video for information on HUD Counseling Goals, considering your client’s budget, and more! Webinar Rebroadcast: HUD Counseling Requirements: 1/7/10 from Reverse Fortunes on Vimeo.
Landmark Reverse Loan Services is expanding their operations and their hours. Starting January 1st, Landmark Reverse will be fully staffed and operational from 6:00am PST to 7:00pm PST to ensure the entire nation properly serviced during normal business hours. In addition, Landmark Reverse is excited to introduce their Regional Solution
Federal Housing Administration Policy Changes The Federal Housing Administration (FHA) today announced several significant policy changes that are intended to improve their exposure to risk. The changes, effective January 1, include: Modification of Procedures for Streamline Refinance Transactions Adoption of Home Valuation Code of Conduct Guidelines (some not all) Updated Appraisal
Home Values, Loan Amounts, and Seniors Home values, loan amounts, and the way seniors use home equity conversion mortgages impact the Federal Housing Administration’s potential liability for its reverse mortgage program, recent studies show. If the Department of Housing and Urban Development had used the same home appreciation models for
As more seniors tap into their home equity to deal with the growing uncertainties of retirement, a report released by the MetLife Mature Market Institute calls for a comprehensive approach to educate and protect seniors on how to use home equity for financial planning. Approximately 14% of seniors are taking