MBA Launches Reverse Mortgage Resource Center

November 6th, 2008 | by John Yedinak Published in MBA Reverse, News, NRMLA, Reverse Mortgage | 4 Comments

Earlier this week, the Mortgage Bankers Association launched their new Reverse Mortgage Resource Center (RMRC). According to the website, the RMRC is designed to be your one location for the latest information on the growing reverse mortgage market. When the MBA announced it was forming its task force in October, they said they would establish a consumer website for reverse mortgages which you can find here.

I can’t say I’m too impressed with the MBA’s fist effort of creating a “location for the latest information on the growing reverse mortgage market”. While I understand it’s the first version of the website, if the MBA thinks a website like this is going to help they’re crazy.

I’d like to see them use their Mortgage Action Alliance tool to help the industry lobby in Washington and communicate with people like the Award Winning Senator Claire McCaskill.

Reverse Mortgage Resource Center

Technorati Tags: Reverse Mortgage,News,HECM,FHA,HUD,NRMLA,Mortgage Bankers Association

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common sense

While I will agree that the website isn’t flashy at this point in time, I disagree with some other points.

A website is intended to give a high level overview of a topic. What percentage of loans have you seen with a 90 year old borrower? If the focus was on the older borrower and larger loan amount, you would complain that they are out of touch.

I haven’t seen the list of names on the committee, yet my assumption is that it would comprise of EXPERIENCED members of the reverse mortgage industry. Let’s wait and see the committee list before we jump off the bandwagon.

It is a positive step for the MBA to make an initiative to bring more information and try to help the industry. An effort to help is better than no effort at all.
RM since 1990

The reverse mortgage industry has long been in need of adult leadership and, more importantly, a strong voice in Washington. MBA provides both. The reverse mortgage-only organization doesn’t seem to be able to influence legislation or its implementation as can the MBA. I support the MBA as a strong advocate for the mortgage industry, including the reverse mortgage segment.
http://castlereverse.com Lance Jackson

I support the MBA’s efforts, as well as those of NRMLA. And although I authored our own consumer guide, I often provide AARP’s consumer guide to prospective customers.
common sense

I will continue to support both the MBA and NRMLA. I look at this as the first step from the MBA in trying to help their “constituents”. I hope to see their efforts and resource center progress with time.

As for my efforts, I answer the call each time I am needed. Whether it be from the Associations above or HUD, I am always glad to help. Even though I am a mere donkey.

MBA Launches Reverse Mortgage Resource Center

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