The June 2009 issue of the Reverse Review is now available online. This month, Sarah Hulbert focuses on the necessity of all industry participants to educate and dispel myths of the reverse mortgage product by understanding clients’ core needs and values and ensuring that these are consistent with yours. As a mortgage rep, your clients [...]

Mortgage Orb published one of the best editorials I’ve read in a while about where the reverse mortgage industry currently stands and where it needs to go.  The article came just a few days after Comptroller of the Currency John C. Dugan declared that reverse mortgages pose significant compliance risks that require proactive input from [...]

The Government National Mortgage Association announced that it posted $38.98 billion in total mortgage-backed securities issuance in May. For the first five months of calendar year 2009, Ginnie Mae provided approximately $163 billion of liquidity to the secondary market, compared to nearly $80 billion for the first five months of 2008. "Our MBS program is [...]

Reverse Mortgage Daily and Monte Rose are pleased to present another free training session where Monte will show you a Formula for Reverse Mortgage Success on Wed July 1st at 12pm (EST).  Whether you lead a sales organization or are a loan officer, the formula can be applied effectively. Additionally, he will “pull back the [...]

When participants convened in private last week at the annual policy conference of the National Reverse Mortgage Lenders Association in Washington, D.C., government officials, academicians, attorneys and business executives could “let down their collective hair,” unencumbered by the news media, which were not permitted to attend. One speaker, from the Government Accounting Office, spoke to [...]

The RMD article Tax Consequences Resulting from Foreclosure on a Reverse Mortgage, pointed out that there are income tax consequences to borrowers from reverse mortgage (and other nonrecourse) debt that is forgiven in foreclosure, short sales, trustee’s sales, and deeds in lieu of foreclosure (all referred to in this article as “foreclosure”); these tax rules [...]