A Tough Sale?
A ‘tough sell’, HECM complaints, and property tax assistance for reverse mortgage borrowers This week, reverse mortgage stories from across the web…
property taxes
New York Times: Expose Examined
Ironic. That is on the eve of the National Reverse Mortgage Lender’s Association Annual Meeting in San Antonio the New York Times published a front page expose. After a year and a half of mostly positive press since the introduction of the HECM Saver has the media pendulum swung back
The life of a reverse after closing
Often out of sight and mind after a reverse mortgage closes, servicing is the backbone of the ongoing relationship with the borrower. From monthly draws, tenure payments and loan questions reverse mortgage servicers are on the front lines of long-term customer support and care. The average loan officer is with
Moral Hazard?
Moral Hazard? One definition is the lack of incentive to guard against risk because one is protected from the consequences while the risk rests on another party. Is that what we have with reverse mortgage borrowers who have defaulted? Non-payment of taxes and insurance has been an issue. A look
Celink & Reverse Mortgages – Curing T&I Defaults: A servicers perspective
[vimeo id=”32590209″ width=”601″ height=”338″] Learn what Celink is doing to help borrowers prevent and cure tax and insurance defaults for reverse mortgage borrowers. A Behind The Scenes Look At Curing Tax & Insurance DefaultsOur exclusive interview with Celink’s John LaRose at last month’s NRMLA meeting uncovers some of the steps
Financial Underwrite A Go: Industry Leader Update
[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.
101 year old evicted in Reverse Mortgage T&I Default: Industry Leader Update
[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.