There is a very popular show on the National Geographic channel called “Doomsday Preppers”. While we are certainly not doomsday-res prepping for catastrophe we can prepare in part for changes to the reverse mortgage program expected later this year.
Continue readingBack to Basics
The reverse mortgage industry has the opportunity to return to basics. The opportunity to more toward a more traditional product mix of adjustable products with lines of credit or tenure payment…
Continue readingAre we already ‘assessing’ borrowers?
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Are we already assessing borrowers? Many have mixed emotions about the soon to be released financial assessment from HUD even though we know it is necessary to help reduce defaults due to taxes and insurance. The question is have lenders quietly begun their own financial assessment, albeit informal with tightening underwriting standards?
Shaping our future: Financial Assessment
Some claim it has created confusion in the marketplace. Others fear it will exclude up to 30% of borrowers. As the debate continues, the Financial Assessment is the biggest game-changer our industry faces, and our future borrowers
Continue readingHere & Gone: Top lender MetLife drops financial assessment
It was groundbreaking when MetLife began using the Financial Assessment but now they have stopped using it altogether. Learn more in this week’s video.
Continue readingRole Reversal? Are we becoming more like forward lending?
Has our industry become more similar to traditional lending? With product & regulation changes…
Continue readingHorse out of the barn? Industry Leader Update
Is the proverbial “horse out of the barn” when it comes to Reverse Mortgage Tax & Insurance Defaults? A problem that was quietly brewing for more than a decade grew into glaring issue with the crash of housing values in 2007 & 2008. Many borrowers hit hard financially
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