[vimeo id=”123361283″ width=”625″ height=”352″] Has the Terminator traveled to 2015? In the 1984 syfi classic Arnold Schwarzenegger plays the role of a cyborg who travels from the year 2029 to 1984 hell-bent on the destruction of his present day nemesis. Not unlike the movie many fear that a new threat
Lately there have been several media accounts stating that much confusion remains for HECM borrowers. I have to admit I have some healthy skepticism when the media claims that reverse mortgages are still confusing for borrowers especially since the Home Equity Conversion Mortgage mandates counseling to cover the basic mechanics
The Home Equity Conversion Mortgage has undergone numerous product changes, regulations, new counseling requirements and protocols and reductions to lending ratios. Much like an aging celebrity who has undergone one too many plastic surgeries one may be left wondering does the new HECM even resemble the original product?
[vimeo id=”120185659″ width=”625″ height=”352″] Delay Grants More Time to Prepare for Assessment Last week our industry received what many consider an early Valentines gift. Feel the love yet? HUD announced that they would be delaying implementation of the financial assessment which was slated to be in force March 2nd, 2015.
Indeed with the numerous delays and false launch of the financial assessment one could be left with a sense of uncertainty while trying to originate reverse mortgages. You’re not alone. Here are three tips to manage uncertainty today.
When it comes to how reverse mortgage loans are originated a line has been drawn in the sand: March 2nd, 2015. In two short weeks the long-awaited or dreaded Financial Assessment goes into effect forever changing the way HECM loans are qualified. This is a game-changer.
The two biggest words in our industry today...Financial Assessment. The question is what fallout can we anticipate once the assessment goes into effect in March? A recent article in Reverse Mortgage Daily looks at the potential impact finding both optimistic and pessimistic predictions.
[vimeo id=”112870126″ width=”625″ height=”352″] Five Take-Aways from the Financial Assessment Two weeks ago today we hosted a national webinar on the Financial Assessment with over 800 participants. Since that time the proverbial dust has begun to settle allowing us to absorb more details for the new way of doing business.