Just a quick reminder that Monte Rose will be providing another free reverse mortgage training session to RMD readers on Wed March 4 at 12pm (EST).  Monte will help you Master the Art of Inquiry to Maximize your Sales Effectiveness by sharing with you what he has learned by spending over 10,000 hours with seniors [...]

The U.S. Department of Housing and Urban Development published Mortgagee Letter 2009-07 which raises the national FHA loan limit for HECMs to $625,500.  The changes are effective immediately for loans closed on or after February 24, 2009.

Reverse mortgage lead provider Senior Leads Online announced that its customers now have the ability to seamlessly upload reverse mortgage leads into Reverse Vision’s origination software.  The Reverse Vision integration is the latest in a series of upgrades the company has made to support data transfer into systems like Salesforce and other sales management and [...]

As financing options diminish, seniors today are turning more to reverse mortgages to provide needed cash flow. During 2008, according to an AARP survey, 36 percent of middle-aged and older Americans stopped putting money into their retirement accounts and 17 percent prematurely withdrew funds from such accounts. “In the past, seniors might take out a [...]

Credit Union Journal recently published an interesting article about how Colorado Springs, CO based Ent Federal Credit Union is working with Members Trust to provide its customers access to reverse mortgages.  By working with Members Trust, Ent is able to earn fee income from the reverse mortgage transaction while Members Trust earns an underwriting fee. [...]

This week, Treasury-based HECM’s with a margin of +281 or less can pay the HECM maximum Principal Limit. Ditto for LIBOR-based HECM’s with margins of +255 or less. And the 10-year rates are down 10 to 13 bps, so a HECM T+275 and L+250 can again give the maximum.