Reverse Mortgage News Blog Entries

The Holiday Slump

Shannon HicksDecember 16, 2019December 19, 2019

by Shannon HicksDecember 16, 2019December 19, 20190542

6 ways to avoid a costly holiday sales slump The big slump. That’s often what the holidays are for sales professionals. That may even include even reverse mortgage originators (gasp). Years ago when working in financial services fellow agents would often disappear in December. This was before the age of

How many will benefit from 2020’s HECM lending limit?

Shannon HicksDecember 9, 2019December 9, 2019

by Shannon HicksDecember 9, 2019December 9, 20192 692

How many borrowers in 2020 may benefit? While HUD’s announcement of the increase of the lending limit for federally-insured reverse mortgages is a positive development, it will likely only benefit a minority of future HECM borrowers in 2020. HUD’s 2019 annual report to Congress reveals that the average maximum claim

BREAKING: HECM Lending Limit Increased

Shannon HicksDecember 3, 2019December 3, 2019

by Shannon HicksDecember 3, 2019December 3, 20191256

HUD announces the new maximum claim amount for HECMs in 2020 Today FHA released Mortgagee Letter 2019-20 announcing the new maximum claim amount (or lending limit) for Home Equity Conversion Mortgages. The new limit of $765,600 is in effect for the calendar year 2020 and represents a $39,000+ increase from

Lessons learned from the traditional mortgage market

Shannon HicksNovember 25, 2019November 26, 2019

by Shannon HicksNovember 25, 2019November 26, 20190534

The lessons to be learned from the growth of alternate mortgage products Late in the Fall of 2018 traditional mortgage brokers scrambled for new ways to generate loan volume as average home mortgage rates spiked. In late 2018 refinance transactions began to fall leading many brokers to focus more on

Proprietary RMs Gain as HECM Evolves

Shannon HicksNovember 18, 2019November 19, 2019

by Shannon HicksNovember 18, 2019November 19, 20190562

Lenders continue to expand their proprietary reverse mortgage offerings – a timely development FHA sees as encouraging. “We are considering some other changes [to the HECM program]”. Those are the words of FHA Commissioner Brian Montgomery during a media conference call for the release of FHA’s report to Congress last

Forbes: ‘How Heirs Should Handle A Reverse Mortgage After Death’

Shannon HicksNovember 12, 2019

by Shannon HicksNovember 12, 20190390

All Reverse Mortgage’s CEO Michael Branson penned another excellent column in Forbes- this time addressing how heirs and adult children can transfer a HECM property to the new owner and what paperwork is needed to ‘walk away’ from the home and the outstanding mortgage balance. [READ FULL ARTICLE HERE]

There may be reason to give thanks

Shannon HicksNovember 4, 2019November 4, 2019

by Shannon HicksNovember 4, 2019November 4, 20190457

A year to give thanks for? Thanksgiving is the season to reflect upon the blessings bestowed upon us. In recent years continuing that tradition has been a challenge for reverse mortgage originators and lenders alike as we faced numerous policy changes that significantly reduced originations, marketing budgets, and ultimately the

You would have never guessed

Shannon HicksOctober 21, 2019October 21, 2019

by Shannon HicksOctober 21, 2019October 21, 20190504

Rewind back ten or fifteen years ago and you would have never imagined that the reverse mortgage would look as it does today. No other mortgage loan has seen such a dramatic transformation of its core components than the Home Equity Conversion Mortgage. If the constant evolution of the HECM

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Reverse Mortgage News Blog Entries

The Holiday Slump

How many will benefit from 2020’s HECM lending limit?

BREAKING: HECM Lending Limit Increased

Lessons learned from the traditional mortgage market

Proprietary RMs Gain as HECM Evolves

Forbes: ‘How Heirs Should Handle A Reverse Mortgage After Death’

There may be reason to give thanks

You would have never guessed

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