http://reversemortgagedaily.com/2008/05/18/hud-issues-guidance-on-hecm-advisor-program/ Reverse Mortgage News and Information Thu, 09 Sep 2010 16:23:00 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://reversemortgagedaily.com/2008/05/18/hud-issues-guidance-on-hecm-advisor-program/comment-page-1/#comment-31697 HUD Issues Guidance on HECM Advisor Program | outdoor rugs Sat, 13 Jun 2009 23:35:23 +0000 http://reversemortgagedaily.com/2008/05/18/hud-issues-guidance-on-hecm-advisor-program/#comment-31697 [...] HUD Issues Guidance on HECM Advisor Program Posted by root 16 minutes ago (http://reversemortgagedaily.com) Wholesale lender sponsors 2009 reverse mortgage daily powered by wordpress using the gridline lite theme by graph paper press Discuss  |  Bury |  News | HUD Issues Guidance on HECM Advisor Program [...] [...] HUD Issues Guidance on HECM Advisor Program Posted by root 16 minutes ago (http://reversemortgagedaily.com) Wholesale lender sponsors 2009 reverse mortgage daily powered by wordpress using the gridline lite theme by graph paper press Discuss  |  Bury |  News | HUD Issues Guidance on HECM Advisor Program [...]

]]> http://reversemortgagedaily.com/2008/05/18/hud-issues-guidance-on-hecm-advisor-program/comment-page-1/#comment-4189 Mike Broderick Mon, 19 May 2008 18:37:17 +0000 http://reversemortgagedaily.com/2008/05/18/hud-issues-guidance-on-hecm-advisor-program/#comment-4189 Lots of things are frustrating when dealing with the inert offices of FHA and Hud. I particularly don't like their response to the issue of high closing costs associated with reverse mortgages. They somehow think that the reduction of the LO fee is the only remedy, but a concurrent reduction of the MIP is also needed. But, NO, let's not go there, so they keep the 2% limit, and pull the rug out from under the LO's who do the grunt work of explaining the program and shepherding the client through the process, or that's the way it should be done. And all this is done with the guidance from NRMLA and AARP? Those two are as helpful as wings on a penguin, they have wings, but they don't fly. Has anyone in either offices ever sold a loan, ever gone on an application? No, but they think they have all the answers. Lots of things are frustrating when dealing with the inert offices of FHA and Hud. I particularly don’t like their response to the issue of high closing costs associated with reverse mortgages. They somehow think that the reduction of the LO fee is the only remedy, but a concurrent reduction of the MIP is also needed. But, NO, let’s not go there, so they keep the 2% limit, and pull the rug out from under the LO’s who do the grunt work of explaining the program and shepherding the client through the process, or that’s the way it should be done. And all this is done with the guidance from NRMLA and AARP? Those two are as helpful as wings on a penguin, they have wings, but they don’t fly. Has anyone in either offices ever sold a loan, ever gone on an application? No, but they think they have all the answers.

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