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Early numbers show the aftereffect of the new Financial Assessment
While it is not Armageddon for our industry the impact of the newly enacted Financial Assessment for the Home Equity Conversion Mortgage cannot be denied. According to a poll conducted by Reverse Mortgage Daily 12% of lenders anticipated a loss in volume less than 10% while more than half expected an impact of 15% or more.
Much like the early exit polls in national elections we are beginning to get a clearer picture of the assessment’s impact on our industry. Early data shows…
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