Earlier this week, Fannie Mae promoted Michael Williams to president and chief executive of the government-backed provider of funding for home mortgages.  Williams was previously chief operating officer and replaces Herbert Allison who was asked by the Obama administration to run the Treasury Department’s financial recovery program. "Mike Williams has demonstrated time and again his [...]

Below are just a few of the companies looking to add experienced reverse mortgage originators.  Here are a few of the new listings that were recently added to our job board: Reverse Mortgage Originator (Milford) Diamond Funding Corporation Reverse Mortgage Loan Associate (NY Metro area) Agency for Consumer Equity Mortgages, Inc. Reverse Mortgage Specialist (Tennessee) AAXA Mortgage Reverse [...]

Today, a hearing is scheduled in California for AB 329, to discuss the amended bill which no longer includes the “fiduciary duty” and “cause of actions” provisions.  Opponents of the bill are still concerned that the amended bill would reduce the availability reverse mortgages in the state due to a provision which would extend the [...]

The consolidation of Bank of America and Countrywide’s reverse mortgage business will be complete on April 27, said a statement from Bank of America.  Additionally, on the same day, the company anticipates that Countrywide Bank, FSB will be fully merged with Bank of America.   The wholesale channels for forward and reverse mortgages will be managed [...]

Wouldn’t it be nice to run your reverse mortgage commercial only in front of the viewers who eligible or had interest in the product?  Soon cable TV operators will be able to offer "addressable" ads onto the television.  "It hasn’t really been done on TV before," said Mike Eason, chief data officer of Canoe Ventures, [...]

This week, only Treasury-based HECM’s with a margin of +269 or less can pay the HECM maximum Principal Limit. Ditto for LIBOR-based HECM’s with margins of +256 or less. Current margins are higher than these figures. This week fixed-rate HECM’s range from 5.56% to 7.250% so we explore the range of benefits. Using this week’s [...]