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Continue readingA Short Term Fix or Long Term Solution?
Does the HECM provide a long term solution or a short term fix to borrowers? That’s the question HUD officials will ponder as the shape the upcoming Financial Assessment
Continue readingWendover Consulting & Portfolio 360 form alliance for Due Diligence Reviews
Wendover Consulting and Portfolio 360 entered into a strategic marketing alliance to provide portfolio valuation and due-diligence services to the reverse mortgage industry.
Continue readingBank Exits & Market Recovery
Industry volume is down 27% in the wake of big bank exits. How can we regain marketshare and where do opportunities lie? How do we rebuild trusted brands and lost distribution networks?
Continue readingReverse Mortgage Rates – Greed or Need?
Is it greed that has made fixed rate reverse mortgages nearly 70% of total production? Or is it something else…the needs of the marketplace?
Continue readingReaching out: Why it always works
Here’s why reaching out to realtors about the HECM Purchase will open more doors than you would expect, despite the down housing market.
Continue readingNo longer on the list: Industry Leader Update
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Non-FHA Approved Brokers find themselves out in the cold when it comes to FHA’s list of HECM approved lenders.
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Remembrance: What makes us strong. Friday’s Food for Thought
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During this week of remembrance here are some things to remember that have made the reverse mortgage industry stronger:
- We’re not selling loans, but changing lives
- Our industry has improved consumer education, product choices, and costs
- 4 million plus Baby Boomers will reach retirement age each year
- We are getting traction in the mainstream media
- Investors and the secondary markets support our product
- We will remain as a long-term solution for years to come.
Worth fighting for: Friday’s Food for Thought
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We may feel we are on the ropes, but there are some things worth fighting for as reverse mortgage professionals.
Our rights as originators:
- Fairness in regulation (NMLS renewal)
- To be included in regulatory discussion
- To be treated as a professional not a predator by lawmakers
Our responsibilities:
- To be ethical in all we do
- To continually improve our knowledge & skill set
- Participate in industry support, discussions and trade groups
- To preach the gospel of the reverse mortgage
Remaining Lenders Grow: August 2011 Top 100 HECM Lenders Report
Download the August 2011 Top 100 HECM Lenders Report here.
Big Names disappear, survivors grow
It’s strange to no longer see the familiar name of Bank of America on the top lenders report. Wells Fargo remains because endorsements usually trail applications by 3-4 months so soon they will fade from the top 10. What’s most interesting are the large and medium lenders who have begun to grab some of the market share left in the absence of Wells & B of A.
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You can click to see our video on race for market share.
