At the NRMLA Annual Meeting in New Orleans it was eye-opening to say the least just how important the HECM Saver is to the entire reverse mortgage industry.
Watch the video below…
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The Federal Reserve has passed an interim rule (read more here) that effectively eliminates the controversial HVCC (Home Valuation Code of Conduct). Many originators and industry professionals agree that appraisal independence is needed but not on how to achieve that end. Without the HVCC will much really change? What are your thoughts?
Post your comments below…
This week focuses on NRMLA’s recent advisory issued on ethical advertising. See some of the most obvious examples of “bad” advertising here (quite interesting) and the new guidelines.
Weekly video recap updating professionals on industry changes in the reverse mortgage marketplace.
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A bullish outlook for 2011…
We have just finished perhaps two of the most challenging years the reverse mortgage industry has ever faced. The 2009 PLF (Principal Limit Factor) cuts, plunging home values and economic uncertainty have resulted in a 31% reduction in reverse mortgages for the fiscal year 2010. The saying “when you’ve hit the bottom there’s nowhere to go but up” comes to mind. Perhaps.Continue reading
Weekly video recap updating professionals on industry changes in the reverse mortgage marketplace. Return here each Friday for new videos.
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New Change In The Floor
This week was a game changer in the reverse mortgage industry when HUD announced a new change in the floor. Watch the video for more.
The Reverse Fortunes weekly video recap updating reverse mortgage professionals on industry changes in the reverse mortgage marketplace. Return here each Friday for new videos.
Get the inside scoop on what recent changes really mean for the reverse mortgage marketplace. Weekly video.
Continue readingTell the woman who can no longer obtain a reverse mortgage because the program benefit cuts prevent her from getting rid of her conventional mortgage (she never could afford)-that Washington supports the program; Tell the man who desperately needs the reverse mortgage and yet was turned down because underwriting guidelines prefer that the properly executed power of attorney be called into question by an artificial standard-that Washington supports the program
Continue readingWe’ve suffered an onslaught of ignorant, misinformed and adversarial articles in the media from so-called “experts” and “journalists”…
Continue reading
I couldn’t read this “journalistic” (too use the term loosely) hit piece (Six Problems the Consumer Financial Protection Bureau Should Tackle First)Â and not respond. Below is my letter to the editor of Time Magazine requesting a retraction…
Dear Editor,
As a reverse mortgage professional I am writing about your publication’s recent story published July 6th highlighting reverse mortgages as one of the six problem areas that the new Consumer Financial Protection Bureau needs to address. After reading my comments I would ask that your publication publish a retraction or correction in fairness to your readers who deserve the truth. Unfortunately, such retractions are much like trying to pick up feathers scattered in the wind.
