Industry Leader Update

Insurance fund for RMs looking healthy: Industry Leader Update

Shannon Hicks
[ad#Kirchmeyer] [vimeo id=”30521686″ width=”601″ height=”338″] HUD Secretary says fund backing reverse mortgages looks good… The lackluster condition of of the Mutual Mortgage Insurance fund in fiscal year 2010 lead to some sweeping changes which included a reduction of principal limit factors, an increase of ongoing FHA insurance and the introduction

Financial Underwrite A Go: Industry Leader Update

Shannon Hicks
[vimeo id=”30161174″ width=”601″ height=”338″] HUD has made it official, reverse mortgage lenders have the authority to help prevent tax and insurance defaults when it comes to financial underwriting and potential reverse mortgage borrowers assessments.

Road block: Lack of funds for HUD Counseling: Industry Leader Update

Shannon Hicks
[vimeo id=”29848468″ width=”601″ height=”338″] Lack of funding for HUD counseling creating a road block for those who need it the most As we enjoyed our weekend October 1st came and went marking the beginning of the fiscal year 2012 and more importantly the date when funding from the government for

$30 Billion savings for Medicaid if RM used. Industry Leader Update

Shannon Hicks
[vimeo id=”29508282″ width=”601″ height=”338″] $30 Billion Savings Per Year if Medicaid Eligibility Rules Changed One expert points out that home equity should be required to be utilized before certain individuals can qualify for Medicaid. Learn how the system discourages savings and what could be done.

101 year old evicted in Reverse Mortgage T&I Default: Industry Leader Update

Shannon Hicks
[vimeo id=”29168490″ width=”601″ height=”338″] The behind the scenes of the eviction of a 101 year old Detroit woman due to tax & insurance default on reverse mortgage Video grabs from WXYZ television in Detroit. Original Story of eviction here.    Updated story of eviction here.

Not saying anything is often times doing harm to clients

Shannon Hicks
[vimeo id=”28836753″ width=”601″ height=”338″] Does the doctor really know what’s best? What if you went to the doctor and they didn’t know about a life-saving treatment that had been used for 20 plus years and you left becoming worse? That’s similar to the situation many retirees find themselves in when

Lenders see business uptick in wake of big bank exits: Industry Leader Update

Shannon Hicks
[vimeo id=”28432975″ width=”601″ height=”338″] Remaining lenders are seeing something they’ve always wanted… an increase in referral phone calls from non-reverse banks and financial professionals. Many of these referrers had sent their clients to Wells Fargo & Bank of America based on their well known brand and geographic convenience. Today reverse

Many jeopardized by poor credit for NMLS renewals: Industry Leader Update

Shannon Hicks
[vimeo id=”28175743″ width=”601″ height=”338″] NMLS license renewals may get dicey for reverse originators with challenged credit history If the last few years have taught us anything it’s that mortgage and financial professionals suffered financially with other Americans due to the housing and economic crash. This leaves many qualified reverse originators

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