I agree with you, the whole situation is sad and it will be more difficult on the senior.

Best regards,

The Great American Philosopher

http://WWW.thegreatamericanphilosopher.com

SPONSORED BY: John A. Smaldone

If HUD and Capital Hill want to address senior’s needs they should eliminate all of the deceptive advertising by companies trying to trick seniors. Seniors tend to be suspicious of a world that no longer honors a “handshake.” agreement. I get a call almost daily from one of my current clients and I have to ask them to get a magnifying glass to read the small print at the bottom of the page!

If someone @ HUD in monitoring this blog they need to pay attention!

I do not agree with HUD, especially on the HECM Advisory program. I feel they are penalizing good providers of the program that are doing it the way it should have been done. HUD does not understand the interpretation of the word “Origination” and our legislators do not even understand what a Reverse Mortgage is.

I feel the industry will suffer based on the position HUD is taking on many issues, it is sad. As far as fire walls being created for insurance agents and financial advisors, other measures could be implemented. In the past and the present many insurance agents and financial planers are employed part time with Reverse Mortgage lenders, am I to understand they must resign their positions? I would like specific clarification of this issue and I am sure all of you reading my comment would like an answer to that as well. That is my position on the ruling for what it is worth. Have a great day.

Best regards,

The Great American Philosopher

http://www.thegreatamericanphilospher.com

SPONSORED BY: John A. Smaldone