Even as government officials (HUD and the FBI being the latest) continue to issue warnings to seniors about reverse mortgage scams, and some practitioners worry about sudden exits by companies like Senior Lending Network, others see more than a few opportunities in the sector. Rumors have circulated that Ginnie Mae was limiting their HMBS issuances [...]

Banks continue to lobby for support in California, spending $4.4 million lobbying state lawmakers in the first quarter of this year, just $500,000 less than the $4.9 million they spent in the first quarter of 2007 according to the Sacramento Bee. Bank of America has increased its lobbying expenditures in California from about $24,000 in [...]

The average HECM borrower will see their initial benefits decrease by $ 2,500 today.

National Mortgage News is reporting that House appropriators have instructed the Federal Housing Administration to cut the proceeds seniors receive when taking out a home equity conversion mortgage in fiscal year 2010 or Oct. 1.  In June, Housing and Urban Development Secretary Shaun Donovan told a Senate appropriations committee that he was open to raising [...]

Reverse Market Insight published its wholesale leaders report and shows that wholesale volume for May 2009 was down 20% from the prior month with 4,275 units.  This compares to a 35.5% drop in direct endorsed loans, and a 28.4% drop in overall endorsements. Below is a list of the top wholesale reverse mortgage lenders through [...]

Senior Funding Group is looking to expand by adding reverse mortgage branches in New York, New Jersey, and Florida said a company statement. The company was acquired in May of 2008 by Franklin First Financial, a leading mortgage banker that has been owned and operated by Chief Executive Officer, Frederick Assini for the past seventeen [...]