If asked to name a key player in the federal government’s HECM program, the name Margaret “Meg” Burns no doubt would be at the top of most lists. In her capacity as director, Office of Single Family Program Development in the FHA, Burns often keynotes reverse conferences, as she did this month in San Diego [...]

While Jeff Taylor technically retired from his position as the head of Wells Fargo’s reverse mortgage business a few weeks ago, retirement is officially over.  Last week, Taylor joined Reverse Market Insight as its Chairman to help expand the companies consulting business. “Jeff’s decision to join as Chairman adds decades of irreplaceable experience and connections [...]

Reverse Mortgage Daily and Sam Collins are presenting another free training session on Tuesday, October 6th at 2pm EST where Sam will cover the “Potential Barriers to Communications with Your Senior Clients “ and how to break through those barriers. Key to survival is Communication. Learn the nuances and underlying reasons to communicate better with [...]

There has been a flood of potential reverse mortgage borrowers trying to schedule counseling before HUD implements a 10% reduction in principal limits for its Federal Housing Administration (FHA) insured reverse mortgage product. Reverse mortgage lenders who obtain a FHA case numbers by September 30 can help their borrowers receive more proceeds, but not all [...]

The reverse mortgage industry continues to see Ginnie Mae play a more important role, issuing $1.5 billion of reverse mortgage MBS (HMBS) in August.  In order for growth to continue, there needs to be buyers and an article from the Wall Street Journal details how banks are buying up GNMA backed securities at a rapid [...]

The average HECM borrower will see the same initial benefits as last week.  Rates have gone down materially in the last couple of days, so we may see an increase in Principal Limits next week The rates as of 9/29/09 are: