HUD’s now suing Wells Fargo & Fannie Mae for their foreclosing on reverse mortgage borrowers. Did HUD open Pandora’s box with their recent mortgagee letter?
Continue readingFriday’s Food for Thought: Pandora’s Box
Top 100 HECM Lenders: Past Lender Reports
Each month we prepare a “Top 100 HECM Lenders” list for FREE. Our reports will offer you more insight about the reverse mortgage business and how and where to market your business.
Top 100 HECM Lenders: This is a monthly report showing the Top 100 HECM lenders.
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Wells: Historic player exits reverse mortgages
Opportunity or omen? Wells Fargo exit from reverse mortgage sends shockwaves across the industry. Just what does it mean and what was Wells historic role in establishing reverse mortgages?
Continue readingCongress to HUD: Fix non-recourse problem
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Is there a silver lining?
UPDATE: On Thursday March 31st the US Court of Appeals granted a temporary administrative stay delaying the rule at least until April 5th at which time there will be a hearing.
Continue readingWill Fed’s new RM disclosures simplify?
Reverse Mortgage Disclosures
Fannie Mae is suspending acceptance of all new HECM deliveries, and The Federal Reserve is making proposed reverse mortgage disclosures. Watch the video and see what you think.
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So what’s your Reverse Mortgage Marketing plan?
The HECM Saver and continued low interest rates along with the lower PLF (Principal Limit Factor) floor of 4.99% have presented some opportunities for the coming year. The question is “what is your plan” for the coming year?
Continue readingDid we just dodge a bullet?
If a mental picture comes to mind for the reverse mortgage industry it is the character “Neo” in the Matrix leaning back impossibly as he dodges bullets in slow motion. The question is, have we as an industry just dodged a bullet with the recent approval of the $150 million…
Continue readingWill HECM require credit underwriting in the future?
Oftentimes we speed read. You know, skim across an article. We get the message but we can miss clues pointing to future trends. My reading this week on Reverse Mortgage Daily while preparing for my podcast left me a bit perplexed and somewhat taken back. Some say that credit underwriting could be part of all reverse mortgages…
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Fixed rate is popular, but is it the best loan for your client?
The fixed rate HECM is wildly popular and now many banks are eliminating fees for consumers. The question is are we fully informing our borrowers about the advantages and disadvantages of the fixed versus the adjustable rate?
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