Comments on: Senator McCaskill Concerned About Reverse Mortgage Fraud

By: CSA

CSA — Tue, 28 Apr 2009 13:47:04 +0000

If the good Senator had a family that desperately needed the help that only a Reverse Mortgage can provide then she might think differently. Before anyone writes a law or makes a speech they should work in the industry for awhile and get some experiance. Unfortunately the hoops we have to jump through now are too many and time consuming. We are not protecting seniors we are punishing them. It might be a novel idea to punish the fraud instigators instead of making more rules that punish everyone.

By: Concerned

Concerned — Tue, 28 Apr 2009 12:41:13 +0000

McCaskill continues to make a name for herself – all at the expense of the people in this industry that are doing things right.

Servicers subscribe to “death report” services that tell them monthly when the borrowers have passed away. So, I don’t know where this untold fraud of unreported orrower’s deaths are happening? McCaskill also doesn’t realize that there are already HUD guidelines that speak to what happens when the borrower moves from the home and the loan documents instruct the borrower to notify their servicer.

Get ready folks…the legislation flywheel has started spinning and it isn’t going to stop for a while now.

By: mr Reverse

mr Reverse — Mon, 27 Apr 2009 17:59:04 +0000

sorry about misspelling of name will try to do better in futuer

By: mr rererse

mr rererse — Mon, 27 Apr 2009 17:56:59 +0000

I feel also we have Bad actors coming from Sub Prime.

but what about new construction? I want to buy a new home not some one’s old home!