HUD’s Neighborhood Watch Tool Helps Analyze Reverse Mortgage Data

September 7th, 2008 | by John Yedinak Published in FHA, News, Reverse Mortgage | 7 Comments

Not sure if people were aware of this already, but I stumbled across a nice tool that HUD provides called Neighborhood Watch. According to HUD, Neighborhood Watch is intended to aid HUD/FHA staff in monitoring lenders and provide a tool to the public to help everyone in self-policing the mortgage industry.

The system is designed to highlight exceptions, so that potential problems are readily identifiable. In addition, the system can be used to identify loan programs, geographic areas and lenders that are performing well. While the majority of Neighborhood watch’s work has been concentrated on early defaults, there is a HECM analysis section too.

The tool allows you to analyze HECM activity by individual lenders, all lenders, and geographic areas from the last 3 years. You also have the ability to sort the data by total number of HECMs endorsed, percentage of area volume, and many other categories. If you want to save the data locally to your hard drive, Neighborhood Watch lets you download the information in a spreadsheet.

While the tool could use some work it’s good to see HUD is providing a tool to the public to help analyze loan data.

Technorati Tags: Reverse Mortgage,HECM,HUD,FHA,News

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http://www.thegreatamericanphilosopher.com The Great American Philosopher

Good morning,

I thought neighborhood watch did not pertain to Reverse Mortgages?

Thank you,

The Great American Philosopher

http://www.thegreatamericanphilosopher.com

BY: John A. Smaldone
Jeff

It must, because I went in and looked up my employer. Quite interesting … I found 8 Correspondents my employer is sponsoring and where they are located. Also found the total # of RM’s endorsed in my area by them as well.
http://www.thegreatamericanphilosopher.com The Great American Philosopher

Jeff,

I appreciate you getting back to me, this is an important issue. I have always been told by the companies I have been with and HUD that the Neighborhood watch did not pertain to Reverse Mortgages? If you find out something different or I do, lets let one another know. Thanks again and have a great day.

Best regards,

The Great American Philosopher

http://www.thegreatamericanphilosopher.com
http://www.thegreatamericanphilosopher.com The Great American Philosopher

Good day,

Has anyone confirmed that Neighborhood Watch pertains to a Reverse Mortgage. For years I have been told by the companies I have been with and HUD that it did NOT pertain to Reverse Mortgages. If anyone has something in writing from HUD counteracting my statement and assumption, please let us know. This is to serious of an issue to allow it to be dropped and not resolved.

Thank you,

The Great American Philosopher

http://www.thegreatamericanphilosopher.com

BY: John A. Smaldone
Kim

Hi,

I greatly enjoyed looking through your site and found an informative one for finance related topics.I have also some finance related web sites having more informations regarding various financial problems and its solutions.So,I think it would be beneficial for both of us if we will join in a community and become link partners to each other.If you are interested then please contact me at- kimpatrick7@gmail.com

Thanks,
Kim
http://www.thegreatamericanphilosopher.com The Great American Philosopher

Kim,

I relayed your information to John Smaldone and he will be getting in touch with you. Thank you for your interest.

The Great American Philosopher

http://www.thegreatamericanphilosopher.com
http://reversemortgages sharon ford

I recently found a website for helping you with your reverse mortgage. I was having trouble with the lender releasing the remainder of the funds. I called the RRM watch person, and he called me back saying he was in the business, could he help me. I explained what was going on and I did not know it was a non-gov. insured loan. He said send me all my paperwork, but especially wanted my application. After I faxed it all to him, I never heard from him again, although I called several times. Beware of this, as if you look on the application all of your personal identity is on there, including SS numbers, and where you live, etc. I was stupid and believed him since he was on the internet and had a convincing ad. I just got hacked into my computer, and now having to close my accounts plus lots of trouble.

HUD’s Neighborhood Watch Tool Helps Analyze Reverse Mortgage Data

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