A Call for the Return of the HECM Saver? In October 2010, the HECM Saver was introduced giving borrowers considerably lower upfront FHA insurance premiums in exchange for lower lending ratios or principal limits. Three short years later the Saver was eliminated from the Home Equity Conversion Mortgage Program. Ironically,
[vimeo id=”83988569″ width=”625″ height=”352″] What Can We Expect in 2014? With the changes and permutations the HECM program has undergone since 2010 one could argue we have already undergone a makeover of sorts. The Saver program, HECM for Purchase and the introduction and revocation of the standard fixed rate. True.
Much like an earthquake can change the overall landscape creating new shorelines, ridges and hills the exit of Metlife will most certainly change the mix of reverse mortgage products. The products most likely to see a reduction are...
[vimeo id=”17994993″ width=”601″ height=”338″] Reverse Mortgages In A Better Light Normally reverse mortgage borrowers wouldn’t consider a reverse mortgage if they expected to stay in their home for a short time due to fear of the up front costs, but the HECM Saver is changing that story. Watch the video
“What?” you may be saying. Really? This last year has been one of the most challenging in recorded history for our industry. True enough. But yet there are ten reasons we can smile in 2010.
NRMLA Annual Meeting in New Orleans At the NRMLA Annual Meeting in New Orleans it was eye-opening to say the least just how important the HECM Saver is to the entire reverse mortgage industry. Watch the video below… [vimeo id=”16780307″ width=”601″ height=”338″]