Current And Up-To-Date Reverse Mortgage News...02-17-09

Here are a few articles with links to their source on the subject of Reverse Mortgages. Sign-up and receive a free daily update right to your email box. It's called “Reverse Mortgage Daily News.”

Loan Officers Wanted? Wow...check out the third news clip...

Reverse Mortgage Industry Hopes Stimulus Bill Brings Higher Loan Limits

Feb 13, 2009 11:55 am | admin

National Mortgage News published HECM Industry Fighting for Higher, More ‘Fair,’ Loan Limit over the weekend. Writer Amilda Dymi details how market insiders are fighting in Congress to get the HECM loan limit increased to $625,000. National Reverse Mortgage Lenders Association members are hopeful President Obama will follow up on his promise to...

HECM For Purchase Provides New Opportunity For Reverse Mortgage Lenders

Feb 12, 2009 10:06 am | admin

National Mortgage News recently published an article about the HECM for home purchase program. The article written by Brad Finkelstein details how the new program presents an opportunity for reverse mortgage lenders to help seniors purchase homes. Generation Mortgage’s chairman, Jeff Lewis, believes the HECM for purchase could be "a healthy percentage" of the company’s volume...

New Reverse Mortgage Jobs Online

Feb 11, 2009 12:03 pm | admin

Have you stopped by to check out our job board? Companies like 1st Reverse,Generation Mortgage, and Omni are hiring nationwide and here are a few other companies looking to expand: Loan Originator (Northern California) Seniors Reverse Mortgage Solutions Reverse Mortgage Specialist (Miami) LoanWell Financial Corp Reverse Mortgage (multiple cities) Genworth Financial The best and brightest of the reverse mortgage business read RMD...

The Reverse Mortgage Seduction, AARP Details Tactics Used By Lead Providers

Feb 10, 2009 06:30 pm | admin

AARP’s Bulletin Today published an interesting Scam Alert which covers shady tactics used by some reverse mortgage lead providers. In Reverse Mortgage Seduction, writer Sid Kirchheimer details how companies are deceptively marketing reverse mortgages as an official government offering to retirees. The article describes a postcard from National Data Research that promises the chance...

Reverse Mortgage Rates – February, 10 2009

Feb 10, 2009 04:06 pm | admin

The average 10-year Treasury rate rose by another 17 bp last week. Today it’s up 5 bp over Friday, but I believe the FED posted too high of a rate on Friday so this says little about next week. The FED’s H15 shows 3.05% for Friday, but the market closed at 2.98%. This happens once...

Scams, Why?

Feb 09, 2009 05:05 pm | admin

The March issue of Consumer Reports lists reverse mortgages as one of five Financial “Scams” that consumers should be aware of in 2009. The report points to videos from James Garner (which aren’t even being aired anymore) and other celebrities as evidence of ways financial firms are enticing seniors to take equity out of...

Fannie Mae Changes Pricing Policy For Reverse Mortgage Refis

Feb 06, 2009 01:36 pm | admin

Generation Mortgage recently published an alert stating that Fannie Mae announced a modification to their pricing policy for HECMs. Effective immediately, all HECM to HECM refinances are eligible to earn a premium, but lenders are still obligated to comply with all HUD regulations for HECM refinances. Prior to this change, most lenders weren’t paying...

Zillow Publishes Q4 Real Estate Market Report, Ouch

Feb 06, 2009 01:24 pm | admin

Zillow recently published its Q4 2008 Real Estate Market Reports which shows that American homeowners collectively saw $3.3 trillion erased from the value of their real estate in 2008. Those type of numbers aren’t good for anyone let alone the reverse mortgage industry. Below are some other highlights from the report. More than one-third...

**********************************************************************************************

Tom Domin is the author of "101 Ways to Originate Mortgages" and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com/   

Copyright © 2009 Sunset Management Solutions, Inc.
All Rights Reserved.