With the expected suspension of the fixed rate standard product comes the need to adjust our approach with prospective borrowers. Here are five tips to help with the transition…
Continue readingWhat 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 program. NRMLA and others have been working tirelessly
Continue readingSaving the Reverse Mortgage. What If?
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What if? That is pretty much all we can say as an industry about the certain and yet unknown changes to the federally insured HECM or reverse mortgage program. With an estimated future negative balance of 2.8 billion FHA finds itself in an awkward postion. One of defending the existence of the program before the Senate. Yes, some members of the Senate Committee on Banking Housing and Urban Affairs pushed the idea of suspending, yes stopping the program as a solution
How to Prepare for Change
How do we prepare for change in our workplace, in our industry? Here are just a few tips to help us prepare for the coming year. #1- Admit that changes comes often in our industry. Ask yourself what are the larger implications if no changes are made to the HECM program?
Continue readingOur Industry’s Trends & Outlook
We interviewed our industry’s top analyst John Lunde who is founder and President of Reverse Market Insight. RMI gathers and makes sense of industry data, market trends and much more. List as we discuss overall loan volumes, pull-through rates and our future.
Continue readingOvercoming Worry with Focus
“Worry never robs tomorrow of its sorrow, it only saps today of its joy.” said Leo Buscaglia. So why the quote? FHA Deputy Assistant Secretary Charles Coulter said in a session that they are considering substantial changes in quote- short oder-. The financial assessment is one, the other and more disturbing for some attendees was the fixed rate HECM. HUD is concerned about the vast majority of borrowers taking a full draw for the fixed rate…
Continue readingLooking 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.
Continue readingInterview with Sarah Hulbert of 1st Reverse Mortgage USA: Industry Image and Future
Exclusive interview with 1st Reverse Mortgage USA’s Sarah Hulbert discussing industry image, regulation, industry volume and marketing.
Continue readingAbundance? Yes even in our industry.
We are surrounded by it although we may not see it. Abundance. Despite our challenges we have much to be grateful for. Learn what in this week’s episode.
Continue readingPhoenix Rising?
There has been much discussion as to why reverse mortgage volumes are at historic lows.Will reverse mortgage volume slowly rise again like the mythical Phoenix from its ashes? A look at current home price trends and our future.
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