Blog Catalog Blog Directory

Advertising Compliance: Big Issue Facing Industry

Tue, 24 Nov 2009 11:34:57 -0600

During the Acceptable Advertising – and the Language You Must Avoid session at the National Reverse Mortgage Lenders Association Annual Conference in San Diego, panelists called advertising the biggest issue we have to deal with because it is the m

HUD Notice Asks Serious Questions About Use of Reverse Mortgage Proceeds

Thu, 19 Nov 2009 14:08:43 -0600

The US Department of Housing and Urban Development will publish an advance notice of rule making concerning reverse mortgages and will “ask some serious questions that a lot of people may find disconcerting,” said Meg Burns, Director, Single-Fami

AARP Showing More Support for Reverse Mortgage Industry

Tue, 17 Nov 2009 16:43:27 -0600

Over the past few weeks I’ve been seeing hearing from more people about their frustration with AARP and their support (or lack there of) for reverse mortgages. Whether or not you like AARP, the organization has been supportive of the program and th

Finding Honest Reverse Mortgage Companies

Sat, 24 Oct 2009 23:45:55 -0500

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

Bank Regulator Hopes to Issue Reverse Mortgage Guidance Before Year End

Tue, 20 Oct 2009 15:09:38 -0500

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

Reducing the Impact of Decision to Cut Reverse Mortgage Principal Limits

Thu, 15 Oct 2009 15:51:34 -0500

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

National Aging in Place Week Kicks Off, New Website Released

Thu, 15 Oct 2009 09:51:13 -0500

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

FHA Reverse Mortgage Program Sees Net Gain of $7 Billion Since Inception

Fri, 09 Oct 2009 10:08:52 -0500

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

HUD Lowers Principal Limit Factors for FHA Reverse Mortgage Program

Wed, 23 Sep 2009 16:41:55 -0500

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

Appropriations Bill Set to Change FHA Reverse Mortgage Program

Thu, 10 Sep 2009 15:53:36 -0500

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

Generation Names New CEO

Thu, 10 Sep 2009 12:37:38 -0500

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

NRMLA Questions Validity of Consumer Reports Reverse Mortgage Investigation

Thu, 03 Sep 2009 13:18:01 -0500

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 (“

NRMLA Announces Annual Reverse Mortgage Conference Details

Wed, 02 Sep 2009 10:43:09 -0500

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

Consumer Reports Investigative Report on Reverse Mortgages, Hardly Balanced

Mon, 17 Aug 2009 09:57:42 -0500

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

NRMLA Reverse Mortgage Professional Designation Details Emerge

Fri, 14 Aug 2009 09:46:02 -0500

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

GAO Report Says Reverse Mortgage Changes Have Mostly Positive Effect

Mon, 10 Aug 2009 13:19:54 -0500

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

Debating Reverse Mortgages at Convention in Washington

Wed, 05 Aug 2009 12:08:33 -0500

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

Reverse Mortgage Conference Season Begins

Thu, 30 Jul 2009 10:55:32 -0500

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

Behind the Scene on Fannie Mae Reverse Mortgage Pricing Changes

Wed, 29 Jul 2009 10:11:44 -0500

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

House Appropriations Bill Could Extend Higher Reverse Mortgage Limit

Fri, 24 Jul 2009 12:01:30 -0500

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.