Comments on: Reverse Mortgage Rates – November, 25 2008

By: John S

John S — Thu, 27 Nov 2008 17:36:47 +0000

My original topic is lowering the cap (5.50) to calculate the principal limit not the 2% UFMIP.The MIP fund will not be reduced anytime soon because H4H and FHA Secure redefaults will dip into the fund.

By: Raymond Denton

Raymond Denton — Thu, 27 Nov 2008 02:27:01 +0000

The MIP fund is now in the billions … we can afford to eat into it a little bit. In fact, it’s far too big and the MI for HECM’s should be lowered accordingly.

By: RickM

RickM — Tue, 25 Nov 2008 21:44:53 +0000

They have to stop somewhere otherwise we begin to chew into the MIP fund too far too fast.

By: John S

John S — Tue, 25 Nov 2008 20:53:46 +0000

Would like to see the cap lowered. How about 5.0 instead of 5.5