Not too many years ago there was a time when the typical reverse mortgage professional could confidently build their business on a singular loan; the Home Equity Conversion Mortgage. That business model has become increasingly difficult to sustain in recent years. While some continue to succeed only offering the federally-insured
FHA Commissioner, Proprietary Reverse Mortgages, and Market Branding highlight 2018 NRMLA Annual Meeting Despite a year of setbacks for many, the 2018 National Reverse Mortgage Lenders Association Annual Meeting not only signaled a retooling of our industry but the course that lies before us. [there is no video transcript
Before any further changes or cutbacks are enacted, the source of ongoing HECM losses must be identified.
New Report Separates & Exposes HECM Liabilities HUD’s most recent actuarial review and net value of the Home Equity Conversion Mortgage sent shockwaves through the reverse mortgage industry last week. **Listen to this week’s podcast for the latest reverse mortgage news stories** The 2017 Fiscal Year actuarial review of the
Without any prior warning or industry comment, HUD formally announced an increase of upfront insurance premiums for all borrowers, regardless of initial distributions, to 2% upfront, and .5% for ongoing mortgage insurance premiums. The agency stated the need to ensure the continued economic sustainablity of the HECM program and its
Good News for HECM, Not So Much for Housing Programs President Donald trump embodies the essence of a political wrecking ball in Washington D.C.- a city known to cling tightly to political traditions of governing and supporting long-standing social programs, despite our ballooning deficits. While the President weathers opposition from