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 readingAssumption Without Research?
Assumptions. That’s what one could surmise from the Consumer Financial Protection Bureau’s recent report on the use of professional designations in the senior market.
Continue readingSurvival of the Largest?
Product change and regulation are taking their toll on one business model: the small independent broker or lender. Smaller premium payouts and increased regulatory costs may cause some to consider joining…
Continue reading30 Years Ugly?
Most 24 year olds are considered in the prime of their life but what will they look like in 30 years? The 24 year old federally insured Home Equity Conversion Program created in 1989 is showing wrinkles and signs of premature aging…
Continue readingFund’s Shortfall to Shape Policy
Recently released numbers show a larger shortfall for the HECM portion of the MMI Fund.
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 readingWhere Do We Go from Here?
Will we see a substantial reduction in new applicants without the Standard Fixed Rate? We may not. Here’s why…
Continue readingWhere will the marketing dollars come from?
With the Standard Fixed Rate HECMs no longer available for case numbers issued on or after April 1st…yes April Fool’s day… a prime source of marketing dollars will go away…
Continue readingRegulations Changing Practice & Behavior
With the recently released final rules for loan officer compensation and the expected suspension of the standard fixed rate HECM product government agencies have drastically changed the motivations and interaction between mortgage lenders and borrowers. First loan officer compensation…
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