Does anyone know if he was the actual loan officer for the reverse? The article simply says “a former broker” and that he helped her get the loan.

Also, I noticed that other reports state that the stolen monies were from a “legitimate reverse mortgage”. I am just trying to get some clarity. As we all have seen, the media has a tendency to inaccurately lump in our industry as the cause of such scams.

I agree with comments from Shannon, Ron, Dan and The Critic,

Ah Ha – MEDIA, The majority know not what they speak or print!

Media is noted for, too many years, to go for the throat. Accurate reporting, on anything, is past. Sensationlism is King! Tabloids sell! Who cares if it is accurate? We have to sell the story. Accuracy just clouds the story. Common sense, Accuracy, Truth -what do these words mean to the majority of the media? Truth does not always sell on the media! What ever happened to ” and now for the rest of the story?”

I have heard to many Attorneys and others invited to speak, to people, stand and speak about what they know very little about. Why does the media think they are able, today, to get the story straight, especially about the HECM Reverse Mortgage, etc., when the research is so limited on the many things they report?

Geez Media, The loan is only been around for 20 years. We don’t hear much, from the Media, about the OPTION ARM Loan by the forward mortgage industry to seniors. The majority of the seniors could not pay the minimum amount of the four choices on the loan and lost their home to foreclosure.

Oh! Whoops, forgot to mention, if the Media even reads this. We in the Reverse Mortgage Industry assisted many seniors out of foreclosure from the predatory lending practices of the forward loan industry(conventional loan industry.

Alas! Because of the allowed lending practices in the conventional losn industry, home prices declined and many senior lost their homes to foreclosure.

Ummm! There may be a story here for the Media!!! Naaah!