The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct (HVCC), said Commissioner David Stevens to a delegation from the National Association of Mortgage Brokers (NAMB). Stevens said that he was well aware of the problems originators have been having with the code, and that FHA is not considering adopting [...]

We have all seen our fare share of reverse mortgage websites or commercials portraying seniors holding hands on a beach watching the sunset and I’ve always wondered if that is the best way to reach baby boomers. AdWeek writer Mark Dolliver dives into the subject by going over survey data and speaking with industry leaders [...]

Wouldn’t you like to tell your "story" as few times as possible while reaching as many persons as possible?  Think about it…wouldn’t you like to gather all your referring partners on a regular basis, in one place, at one time, give them a great dinner and confirm your mutual value to one another. Let’s do [...]

The average HECM borrower will see their initial benefits increase by $5,500 tomorrow The rates as of 8/25/09 are:

Call it “the law of unintended consequences” – the two-year drop in home valuations currently playing havoc with seniors’ plans to get a reverse mortgage. Like raising the speed limit on a highway while simultaneously lowering the maximum velocity a car can achieve, seniors are being appraised out of qualifying for financial aid. Many have [...]

Despite the media backlash from the Consumer Reports “investigation”, Silicon Valley’s Mercury News writes about how  a couple recently used the HECM for purchase to buy a home in San Francisco.  Ann Tubbs and Ehtesham Majid used the new program to help purchase a $625,000 two-bedroom condominium located downtown near the city’s waterfront.  "We like [...]