Reverse Mortgage Tips for Consumers

In addition to advocating for stricter reverse mortgage oversight, the Consumer Union also released tips for consumers when looking into a reverse mortgage. One very important tip given is that borrowers need to be concerned about continuing expenses once they…

Celink: Strong Annual Client Survey Results

Celink recently completed their annual client and borrower survey results for 2010. This is their second independent client survey and the results reaffirm high levels of satisfaction. Like any good company, they do admit that there is room for improvement.…

HECM Saver on The Today Show

The HECM Saver made an appearance last week on the Today Show. During NBC’s Money911 section, a viewer called in looking for advise on whether her mom should take out a reverse mortgage or not. David Bach, the Founder of finishrich.com…

Value Checks Before Appraisal?

Reverse Fortunes Weekly Podcast – Episode #131 Raising Social Security retirement age would boost RMs “Take it back”. AARP not happy with current Fed disclosures RMS rolls out online service for borrowers Counseling fatigue a concern Knowledge & Insight: Creative…

Higher Reverse Mortgage Limits Extended by HUD For 2011

The Department of Housing and Urban Development published Mortgagee Letter 10-40 yesterday, which extends the higher reverse mortgage limits in 2011. The Mortgagee Letter also addresses FHA forward limits.   “Under provisions of the recent Continuing Resolution (CR), the national FHA loan limit…

Hardest Hit Fund To Cure HECM T&I Defaults?

Reverse Fortunes Weekly Podcast – Episode #131 Talking Points: 11/29/2010 Episode #131 “Hardest Hit Fund” to cure HECM T&I defaults? Under penalty: New language in HUD1 closing certification “The first big wave of boomers to land December 1st NRMLA to…

Reverse Mortgage Volume Down

September posted a reverse mortgage volume decline of 10.2% from August according to Reverse Market Insight. Retail/direct lender volume fell 14.2% whereas wholesale volume, which represents the broker channel, only fell 4.3%. The three months leading up to September, however, did…