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Finding Honest Reverse Mortgage Companies
Reverse Mortgage Blog | October 24th 2009 by Gerry Marsh
Wade Robins asked: With millions of Americans now at or approaching retirement age, the problems of failed pensions, inadequate social security, and escalating health insurance costs are threatening to cause a massive increase in the number of senio read more
Bank Regulator Hopes to Issue Reverse Mortgage Guidance Before Ye…
Reverse Mortgage Daily | October 20th 2009 by John Yedinak
The Office of Comptroller of the Currency (OCC) hopes to issue guidance by the end of the year to help banks manage the risk of originating reverse mortgages said Ann Jaed, Deputy Comptroller for Compliance Operations at the OCC during an interview w read more
Reducing the Impact of Decision to Cut Reverse Mortgage Principal…
Reverse Mortgage Daily | October 15th 2009 by John Yedinak
The US Department of Housing and Urban Developments decision to reduce the principal limits for the Home Equity Conversion Mortgage (HECM) has received a decent amount press over the past couple of weeks. The Washington Post covered how the Federal H read more
National Aging in Place Week Kicks Off, New Website Released
Reverse Mortgage Daily | October 15th 2009 by John Yedinak
The National Aging in Place Council (NAIPC) announced its annual Aging in Place Week along with a new website meant to become America’s Senior Support Network and help link seniors with services in neighborhoods all across the country. "Our read more
FHA Reverse Mortgage Program Sees Net Gain of $7 Billion Since In…
Reverse Mortgage Daily | October 9th 2009 by John Yedinak
National Reverse Mortgage Lenders Association President, Peter Bell, testified before the Subcommittee on Housing and Community Opportunity yesterday and discussed the state of the Home Equity Conversion Mortgage (HECM) program. The session was meant read more
HUD Lowers Principal Limit Factors for FHA Reverse Mortgage Progr…
Reverse Mortgage Daily | September 23rd 2009 by John Yedinak
The U.S. Department of Housing and Urban Development posted Mortgagee Letter 09-43, which announced a new set of principal limit factors for the Federal Housing Administration (FHA) HECM program. The changes will lower the principal limits for read more
Appropriations Bill Set to Change FHA Reverse Mortgage Program
Reverse Mortgage Daily | September 10th 2009 by John Yedinak
As politicians head back to Washington to vote on healthcare and a range of other issues, the reverse mortgage industry waits to see what the Home Equity Conversion Mortgage (HECM) will look like starting in FY 2010. The House passed its appropriatio read more
Generation Names New CEO
Reverse Mortgage Daily | September 10th 2009 by John Yedinak
Generation Mortgage announced that Scott Peters will succeed former president and CEO Joe Morris, who will take on the role of executive director and represent Generation as an industry advocate and play a stronger role with organizations such as the read more
NRMLA Questions Validity of Consumer Reports Reverse Mortgage Inv…
Reverse Mortgage Daily | September 3rd 2009 by John Yedinak
When researching a product, be it a flat-screen television or a car, many of us often turn to Consumer Reports for an evaluation of what is available. But after reading their reporting on reverse mortgages in the September 2009 issue (“ read more
NRMLA Announces Annual Reverse Mortgage Conference Details
Reverse Mortgage Daily | September 2nd 2009 by John Yedinak
The National Reverse Mortgage Lenders Association (NRMLA) recently announced that its 2009 Annual Meeting & Expo will be held in San Diego, CA. The conference is scheduled for November 18-20 and will be at the Manchester Grand Hyatt. There is a read more
Consumer Reports Investigative Report on Reverse Mortgages, Hardl…
Reverse Mortgage Daily | August 17th 2009 by John Yedinak
Consumer Reports is back and they’ve decided to jump on the Claire McCaskill bandwagon attacking reverse mortgages in their September 2009 edition. Consumer Reports calls Reversals of fortunes an “investigative” report on reverse mortgage read more
NRMLA Reverse Mortgage Professional Designation Details Emerge
Reverse Mortgage Daily | August 14th 2009 by John Yedinak
The National Reverse Mortgage Lenders Association looks to be getting closer to rolling out its Certified Reverse Mortgage Professional (CRMP). The association unveiled a new section of its website to provide information for originators looking read more
GAO Report Says Reverse Mortgage Changes Have Mostly Positive Eff…
Reverse Mortgage Daily | August 10th 2009 by John Yedinak
The US Government Accountability Office released a new report which found that reverse mortgage policy changes from the Housing and Economic Recovery Act have had mostly positive effects on lenders and borrowers. However, recent market changes read more
Debating Reverse Mortgages at Convention in Washington
Reverse Mortgage Daily | August 5th 2009 by John Yedinak
The Herald-Tribune published excerpts of a panel that took place at the National Association Real Estate Editors (NAREE) convention in Washington, D.C., where there was a panel debating reverse mortgages. One of the topics debated was the cost read more
Reverse Mortgage Conference Season Begins
Reverse Mortgage Daily | July 30th 2009 by John Yedinak
The fall conference season, always an active starting point for consideration of industry issues, features two major reverse mortgage events, including the third such program from the Mortgage Bankers Association. That meeting, scheduled for San Dieg read more
Behind the Scene on Fannie Mae Reverse Mortgage Pricing Changes
Reverse Mortgage Daily | July 29th 2009 by John Yedinak
\Many of us know that Section 1109 of HERA (the Housing and Economic Recovery Act of 2008, PL 110-289) requires a reduction to the mortgage portfolio of Fannie Mae. Although it is doubtful, this could result in the ultimate exclusion of HECM acquisit read more
House Appropriations Bill Could Extend Higher Reverse Mortgage Li…
Reverse Mortgage Daily | July 24th 2009 by John Yedinak
The House Appropriations Committee’s bill could lower the amount of money available to seniors using the FHA insured reverse mortgage product but the 162 page bill looks like it will extend the increased lending limit of $625,500 through FY 2010. read more
PR Closings Accepting Manufactured Homes in Condo Projects
Reverse Mortgage Daily | July 8th 2009 by John Yedinak
Premier Reverse Closings announced that it’s accepting transactions for manufactured homes in condominium projects, as per the Housing of Urban Development guidelines recently outline in Mortgagee Letter 2009-16. The change comes with much anticipa read more
NRMLA Ethics Advisory: Offering Financial and Insurance Products…
Reverse Mortgage Daily | July 2nd 2009 by John Yedinak
The National Reverse Mortgage Lenders Association issued two new Ethics Advisories which outline the expected standards and practices in selling other financial and insurance products as well as standards for mortgage lead generation activities. The read more
False Advertising of Reverse Mortgages Concerns Authorities
Reverse Mortgage Daily | June 11th 2009 by John Yedinak
False advertising, while not new, is cropping up often enough in direct mail pieces to prospective reverse mortgage customers that public and private authorities are expressing concern. Often appearing as if it is coming from an official (i.e. govern read more
Fewer Baby Boomers Are Coming Back To Facebook, Big Surprise?
Reverse Mortgage Daily | May 28th 2009 by John Yedinak
More lenders are turning to social marketing on the web to promote their reverse mortgage business using tools like Facebook and Twitter. Even the National Reverse Mortgage Lenders Association started hosting marketing panels on social media to read more
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