I Don’t need to carry on a conversation like this, it does not help any one, especially in these times. You need to read the entire regulations governing the HECM Advisory program. The same goes for the many people that need and should read the entire Housing Recovery before making comments, for or against.

Good day,

The Great American Philosopher.

http://www.thegreatamericanphilosopher

SPONSORED BY: John A. Smaldone

The facts are the so-called HECM Advisor Program was terminated by Congress and HUD acted quickly to rescind the mortgagee letter allowing it. It seems that not only does a lowly California originator not have the benefit of your insights as to the values of this program, neither did Congress when they terminated it.

If you want it back, you should seek redress through Congress. Perhaps NRMLA or even HUD itself will champion your legislation. I know you are not the only person who supports it.

Apparently more than just this lowly California originator wanted it terminated. Even a few people who live outside of California helped end it.

I apologize if my celebration offends you. But, sir, please spend less time on your philosophy and more on spelling, writing, grammar, and typing.

An less than average American Jim

I don’t agree with you, this program was not a joke! Also sir, the ending of your statement (Good Riddance) definitely was not called for and shows your lack of professionalism. Your situation in California is to bad but it is your problem, many other states have licensing and educational requirements. AS far as the HECM Advisory program, I am not going to waste my good advise or time explaining the facts to some one with your lack of knowledge and arrogant manner!

Good day,

The Great American Philosopher

http://www.thegreatamerican.com

SPONSORED BY: JOHN A. SMALDONE

I know some believe they are being punished for the irresponsible actions of others, but are even the majority of these individuals willing to be subjected to the errors committed by their “advisors”? When even felons can be originators or their managers, how is it that anyone really believes that even a majority of these “advisor” programs were being properly monitored. I heard of fees of 50% for mere introductions and other spurious levels of compensation for little or no services rendered.

While I sympathize with those who are losing revenues, I do not sympathize with the continuation of this program. Good riddance.

It appears HUD is saying as long as the broker/lender is an FHA approved lender they can participate in the HECM Advisory program/ Can we all assume the FHA Approved lender can operate under the old guidelines of the HECM Advisory program? In short, what I am asking and saying is can the FHA Approved lender just act in an advisory capacity and do ONLY the things required under the old HECM Advisory program. In other words, am I to assume they do not have to take the application if they choose not to. This is a very important question. I wish some one can give me that answer ASAP and be positive of their answer when giving it to me. My appreciations extended.

The Great American Philosopher

http://www.thegreatamericanphilosopher.com

SPONSORED BY JOHN A. SMALDONE