Comments on: Top Wholesale Reverse Mortgage Lenders

By: James A. Nelson

James A. Nelson — Wed, 12 Nov 2008 18:21:23 +0000

Until HUD/FHA allows HECM loans regardless of the FHA appraised value, when are the “smart” people of the Banking, Mortgage, Insurance Industries going to figure out how with private insurance to provide Jumbo Reverse Mortgage Loans again? I’m curious if the really knowledgeable people know what the profit/loss ratio is on Reverse Mortgage Jumbo loans historically? I suspect our current Wall Street/Banking problems have cause a liquidity catastrophe which has adversely affected Reverse Mortgage Jumbo loans, but I curious if it is due to losses as well? Anyone know of any reputable studies
ever done? or know the answers?

By: gina campbell

gina campbell — Wed, 12 Nov 2008 18:08:31 +0000

I just had a broker working through JB Nutter offer a 1 year CMT HECM with a 1.75 margin with a 1% origination fee. That is the second low ball deal I have seen come out of a JB Nutter broker. That is how they are getting their market share.

Is the rumor fact, JB Nutter is for sale?

By: admin

admin — Wed, 12 Nov 2008 17:11:20 +0000

Bill,

Nice comment, I double checked the data from RM Insight and thats what they have….

By: Bill Peters

Bill Peters — Wed, 12 Nov 2008 16:27:02 +0000

Are you sure that the decimal points for the statistics are in the right places?

An already established Top 10 Lender, B of A, with a 589,400% growth rate??

That’s more like what we hear about as the inflation rate in Nigeria.

By: Tom Ryall

Tom Ryall — Wed, 12 Nov 2008 13:26:58 +0000

It seems that service and turn around times from app to closing are the only edge.