Comments on: Fannie Mae Issues Force Reverse Mortgage Lender To Suspend New Applications http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurt-wholesale-reverse-mortgage-lender/ Reverse Mortgage News and Information Fri, 10 Feb 2012 19:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Anonymous http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurt-wholesale-reverse-mortgage-lender/comment-page-1/#comment-38494 Anonymous Mon, 27 Jul 2009 05:05:00 +0000 http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurting-wholesale-reverse-mortgage-lender/#comment-38494 I am waiting now for 4 months for my reverse mortgage to come through and now I am told the HUD appraisor has reduced my appraisal from $366,000 to $223,000. In the appraisal he states that my area is "holding value." Figure that one out. How can a reputable long-time in business, respectable appraisor who did the work 2 years ago be so far off track. What`s up with HUD appraisals? My home is insured for over a half mil. Rebuilding from scratch would be almost a mil. Stick homes a mile down the road are selling for $220,000. and there isn`t a stone or a brick in sight. All vinyl, plastic and pre-fab. I hope someone starts looking into the reasoning behind this fiasco. I am waiting now for 4 months for my reverse mortgage to come through and now I am told the HUD appraisor has reduced my appraisal from $366,000 to $223,000. In the appraisal he states that my area is “holding value.” Figure that one out. How can a reputable long-time in business, respectable appraisor who did the work 2 years ago be so far off track. What`s up with HUD appraisals? My home is insured for over a half mil. Rebuilding from scratch would be almost a mil. Stick homes a mile down the road are selling for $220,000. and there isn`t a stone or a brick in sight. All vinyl, plastic and pre-fab. I hope someone starts looking into the reasoning behind this fiasco.

]]> By: cfreeman http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurt-wholesale-reverse-mortgage-lender/comment-page-1/#comment-33238 cfreeman Mon, 27 Jul 2009 03:05:20 +0000 http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurting-wholesale-reverse-mortgage-lender/#comment-33238 I am waiting now for 4 months for my reverse mortgage to come through and now I am told the HUD appraisor has reduced my appraisal from $366,000 to $223,000. In the appraisal he states that my area is "holding value." Figure that one out. How can a reputable long-time in business, respectable appraisor who did the work 2 years ago be so far off track. What`s up with HUD appraisals? My home is insured for over a half mil. Rebuilding from scratch would be almost a mil. Stick homes a mile down the road are selling for $220,000. and there isn`t a stone or a brick in sight. All vinyl, plastic and pre-fab. I hope someone starts looking into the reasoning behind this fiasco. I am waiting now for 4 months for my reverse mortgage to come through and now I am told the HUD appraisor has reduced my appraisal from $366,000 to $223,000. In the appraisal he states that my area is “holding value.” Figure that one out. How can a reputable long-time in business, respectable appraisor who did the work 2 years ago be so far off track. What`s up with HUD appraisals? My home is insured for over a half mil. Rebuilding from scratch would be almost a mil. Stick homes a mile down the road are selling for $220,000. and there isn`t a stone or a brick in sight. All vinyl, plastic and pre-fab. I hope someone starts looking into the reasoning behind this fiasco.

]]> By: John Q.Public http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurt-wholesale-reverse-mortgage-lender/comment-page-1/#comment-16583 John Q.Public Sat, 10 Jan 2009 16:02:56 +0000 http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurting-wholesale-reverse-mortgage-lender/#comment-16583 If you ask me, JBN's argument does not hold water. Fact is, other wholesalers are not having any problems with reimbursements. Ask around - there are a small number of well capitalized, reputable reverse mortgage investors who are having no such issues. I would venture to guess that this is issue JBN is facing is more of a warehouse line issue. I'm not saying that it would not be a good thing if there were more investors in this industry. What I am saying is that you need to be a bit more skeptical before you accept this explanation. If you ask me, JBN’s argument does not hold water. Fact is, other wholesalers are not having any problems with reimbursements. Ask around – there are a small number of well capitalized, reputable reverse mortgage investors who are having no such issues.

I would venture to guess that this is issue JBN is facing is more of a warehouse line issue.

I’m not saying that it would not be a good thing if there were more investors in this industry. What I am saying is that you need to be a bit more skeptical before you accept this explanation.

]]> By: The Great American Philosopher http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurt-wholesale-reverse-mortgage-lender/comment-page-1/#comment-16582 The Great American Philosopher Sat, 10 Jan 2009 14:47:42 +0000 http://reversemortgagedaily.com/2009/01/09/fannie-mae-problems-hurting-wholesale-reverse-mortgage-lender/#comment-16582 Good day, I agree with what JB is saying. We need more sources for the growing demand HECM product. FNMA blames the JB Nutter's of the world but who really is the blame, I think we all know the answer to that. The Great American Philosopher www.thegreatamericanphilosopher.com Represented by, John A. Smaldone Good day,

I agree with what JB is saying. We need more sources for the growing demand HECM product. FNMA blames the JB Nutter’s of the world but who really is the blame, I think we all know the answer to that.

The Great American Philosopher

http://www.thegreatamericanphilosopher.com

Represented by, John A. Smaldone

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