Here are the current articles on the subject of Reverse Mortgages. We hope you are making Reverse Mortgages apart of your product mix.

Reverse Mortgage: Now It’s Part of Retirement Says Bank of America Executive
Aug 13, 2009 10:06 am | admin

Over the weekend the Connecticut Post published an article about how one 64 year old woman who decided to use a reverse mortgage to manage her her escalating property taxes and mortgage payment and couldn’t be happier with the results. Lewis borrowed about $230,000, a portion of which went toward paying off her mortgage and...

HUD Grapples with Reverse Mortgage REO Properties
Aug 13, 2009 06:51 pm | Neil

Reportedly in need of an $800 million credit subsidiary to cover losses caused by declining house prices, the HECM program faces a related challenge stemming from REOs, or real-estate-owned properties, that have fallen (back) into HUD’s lap. As Sally Bene’, program director, Servicing Division, HUD’s National Servicing Center, Tulsa, Okla., notes: “In the reverse world...

Senate Appropriations Bill Includes More Reverse Mortgage Provisions
Aug 12, 2009 03:25 pm | Jim Veale

This article is a follow up on the Senate Committee on Appropriations amended version of H.R. 3288, the HUD appropriations bill for the fiscal year ending September 30, 2010. An article from National Mortgage News described a portion of the amendments to the bill. Most notably, the story failed to report the elimination of the...

Fox Business News Asks the Reverse Mortgage Question
Aug 12, 2009 11:49 am | admin

Fox Business asks is a reverse mortgage right for you? The segment includes real estate investor and author Jim Randel who explains the pros and cons of reverse mortgages. Despite the screen showing that reverse mortgages are for people 65 and older, it was a good segment. One of the Fox News anchors says that shouldn’t...

Affluent Using Reverse Mortgages to Take Advantage of Distressed Property Values
Aug 12, 2009 11:48 am | admin

While we continue to hear about reverse mortgages as a last resort, more are turning to it as a tool for the affluent marketplace as a vehicle for advanced planning. Paul Savery, a reverse mortgage consultant with Wells Fargo told the Norwich Bulletin that some people are using a reverse mortgage to buy or...

Journalist Calls Out McCaskill on Her Reverse Mortgage Crusade
Aug 11, 2009 03:02 pm | admin

When it comes to the mainstream media, I’d say our industry has three well established journalists who provide fair and balanced reporting when it comes to reverse mortgages. One of those is Newsday columnist Saul Friedman, who tells his readers Don’t Worry, Reverse Mortgages are Safe. In his Gray Matters column, he writes that “to...

GAO Report Says Reverse Mortgage Changes Have Mostly Positive Effect
Aug 10, 2009 02:19 pm | admin

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 and developments have increased HUD’s risk. In order to examine how the HERA changes affected lenders and borrowers, the GAO...

Taylor Bean’s Wholesale Reverse Mortgage Business Suspended
Aug 10, 2009 11:46 am | admin

The Federal Housing Administration suspended Taylor, Bean & Whitaker Mortgage from taking loans insured by the agency, and raised questions about the company’s business practices and financial disclosures said the Wall Street Journal. The move came a day after federal investigators raided Taylor Bean headquarters and could hamper the company’s operations and deal a setback to...

Top Reverse Mortgage Lenders Through July 2009
Aug 07, 2009 03:55 pm | admin

Below is a list of the top HECM lenders through July 2009.  Be sure to check out the commentary and link below which goes into more detail. Volume rebounded a bit from the prior two months, coming in at 9,830 units, up from 8,633 in June and 8,396 in May. YTD volume is now virtually dead...

Industry Emerges From Helping Seniors Age in Place
Aug 07, 2009 03:51 pm | admin

When older people are faced with the question of whether they should stay in their home or move to a senior living community, a recent survey from the Home Safety Council, a nonprofit organization dedicated to preventing home-related injuries found most people settle on staying put in their home.  According to an article from the...

MetLife Grabs Top Wholesale Reverse Mortgage Lender Spot
Aug 06, 2009 06:54 pm | admin

Reverse Market Insight reports that after last month’s 20% drop, wholesale volume picked up a bit in June, growing just north of 8% to 4,623 units, with trailing 12 month volume coming in at 60,448. Below is a list of the top wholesale reverse mortgage lenders over the last 12 months. Lender Units Growth 1 Financial Freedom 14,291 -38.2% 2 JB Nutter 13,819 18.9% 3 Bank of...

Online Social Networks Give Seniors New Way to Establish Connections
Aug 06, 2009 06:51 pm | admin

An article from the New York Times shows how online social networks are filling a void for seniors who find their “old” social connections falling apart. In Online, ‘a Reason to Keep on Going’, Stephanie Clifford writes about a woman who after suffering a heart attack two years ago started using sites like Eons...

Reverse Mortgages = Subprime? Unfortunate Comparison says HUD Economist
Aug 05, 2009 01:10 pm | Neil

What seems like an increasingly negative impression of the reverse mortgage business - among some consumers, media outlets and government representatives - has several practitioners wondering what can be done to counter these beliefs - and who might take the lead in such an effort. One reverse originator reportedly has asked an industry trade association...

Baby Boomers Spending More Free Time Online Than Watching TV
Aug 05, 2009 01:07 pm | admin

Baby Boomers are now spending more free time online (12.9 hrs per week on average) than they do watching traditional TV (11.8 hrs per week on average) says results from the latest Change Wave survey. The benchmark survey of business professionals between the ages of 45 and 63, completed in early May, focused on...

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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/

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