How do you pay back a (HECM) reverse mortgage?
When must a reverse mortgage be paid off? Can the loan be paid off early? What are the typical payoff options?
regulation
Seniors head back to retirement communities
Unable to use the embedded player? Listen here. EPISODE #729 Seniors head back to retirement communities after the Covid pandemic As reverse mortgage professionals, we often talk about the vast majority of seniors who want to age in place in their existing homes. This week we bring you the other
The truth about reverse mortgage occupancy rules
What are the actual occupancy rules for Home Equity Conversion Mortgages? The answer may surprise you as Dan Hultquist explains.
Washington Post: Reader comments on Reverse Mortgages
Unable to use the embedded player? Listen here. EPISODE #673 The Washington Post shares reverse mortgage borrower experiences The Washington Post shares two select reader experiences in applying for a reverse mortgage. Do you think at least one had a positive impression? Other Stories: Texas reverse mortgage bill would define
NEW HECM Final Rules Begin Sept 19th
HECM Final Rule Changes Begin Tommorw- Part 2: Interview with RMI’s John Lunde HUD’s HECM Final Rules go into effect tomorrow (9/19/2017) and include in part: For fixed rate HECMs, only a full-funded LESA may be used. Partially funded LESA’s will distribute LESA funds two times a year to the
What just happened? A look behind the scenes.
Even though HUD telegraphed their intentions to make substantial changes to the reverse mortgage program many today are in a state of shock. Here’s brief look behind the scenes courtesy of NRMLA’s special bulletin. First, our industry has been very active in working with those shaping policies for the HECM
Consumers Union to CFPB: Only as a “Last Resort”
Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they recommend that a reverse mortgage be a loan of last resort when there is no other
Looking ahead: Interview with Urban Financial CEO Steve McClellan
He comes from both a banking and financial services background. Urban Financial CEO Steve McClellan sat with us at NRMLA's West Coast Meeting and shares his insights on upcoming regulations, market conditions and more.
