As we closed out a tumultuous 2018 reverse mortgage professionals were not anticipating a blockbuster month for HECM endorsements. However, many were taken aback when December endorsements came in at a meager 1,751 units. Even factoring in the government shutdown which halted endorsements on December 21st, estimates would have only
Thinking Big in a Smaller Market The bickering continues in Washington DC resulting from the budget stalemate and subsequent limited government shutdown. Veteran originators will recall a 16-day shutdown in October 2013. During this time endorsements of all Home Equity Conversion Mortgages cease. All FHA mortgages stand to be impacted
FHA is addressing risks on both sides The federally-insured reverse mortgage or Home Equity Conversion Mortgage while holding tremendous value has been challenged with continued losses paid from the FHA’s insurance fund. In the wake of the housing bubble and economic crisis the program, several changes were enacted. The
FHA Commissioner doing ‘deep dive’ to isolate source of HECM losses The following commentary does not represent the official position of Reverse Focus, Inc. Last October just days after the agency enacted substantial cutbacks to the Home Equity Conversion Mortgage, HUD Secretary Ben Carson spoke before the House of
Fees, lending ratios (PLFs), and market growth The following commentary does not represent the official position of Reverse Focus, Inc. You don’t have to the read industry blogs to know that reverse mortgage volumes are in retreat, not only from the historic levels, but even from the previous year. Recent
Fees, lending ratios (PLFs), and market growth The following commentary does not represent the official position of Reverse Focus, Inc. Since the housing and economic crash nearly 10 years ago our industry has valiantly labored to not only increase reverse mortgage acceptance and loan volume but also adapt to a
What is the biggest risk to the HECM? It may be hiding in plain sight...