JTWCT,rnrnYou are probably someone who attends all NRMLA meetings and speaks with Mr. Bell regularly. I am not in that category; however, I know some who are involved at that level. rnrnTruly Mr. Bell seems no different than anyone else who lobbies Congress. He is very bright and astute but has biases and receives false signals that at times result in missteps. Some NRMLA missteps may have occurred in the early part of the appropriations process particularly last spring but certainly not many, if any, missteps have occurred since then. rnrnIt seems NRMLA has coordinated with AARP over strategy throughout the process and has chosen its battles carefully and judiciously. You might disagree with the battles selected or the strategy used but from what I understand, NRMLA was very active throughout the process and discussed these issues with sufficient warning. rnrnOne legitimate question for NRMLA is why they feel they cannot circulate some of the issues at hand more openly without hurting their legislative strategy? Truly that is something that deserves airing and debate. To expect NRMLA to discuss everything openly is simply unrealistic if NRMLA is to have any expectation that members of Congress will work with them behind the scenes to help where possible. But NRMLA could stand to be a little more forthcoming with its members.rnrnBut who says 10% is the final reduction. It could be more or less depending on the contents of the appropriations bill that is ultimately enacted, if any. Because the Democrats control the White House and will soon return to their super majority status in Congress, it is not unrealistic to believe that H.R. 3288 will be amended in Conference and enacted. rnrnWhat seems far more troubling is the apparent lack of action by the MBA in the appropriations process. As a regular reader of RMD, one of the biggest reasons that commentators pointed to for supporting the move by the MBA to create a reverse mortgage section was their clout in legislative matters. As many know, NRMLA is known among us and some Congressional members but few others while literally everyone in the mortgage industry knows and respects the Mortgage Bankers Association. The appropriations process started in May but I cannot find the footprint of the MBA anywhere in respect to HECMs and H.R. 3288.rn

Yes, that is what the story is about, obviously. The article stimulated some thought, which reading and many other forms of communication can do for some of us. Mr. Taylor is not going to work for free. Nor are the many others that are in the business and or are joining the business of providing information, training, IT, marketing services, lead generation, and other stuff. All this activity at a time when many people expect either side of zero growth strikes me as odd, or worthy of conversation.rnrnSo where are all the responses regarding expected growth for the next few years? Beuhler. Beuhler. Anybody?

I have to agree. More and more small companies are getting hit with higher fees for surety bonds, broker/lender and sales people licensing, auditing cost and a slew of other new or higher expenses. At the same time we are all facing a much harder time getting loans in the door. “Sixty companies chasing forty loans” is one of the best ways I have heard our current market summarized.rnrnAlso how exactly is NRMLA helping its members in this? The agreement for the services to take $15 out of the SRP paid to brokers still is in effect to help with the cash flow yet NRMLA is way over funded. NRMLA is encouraging more companies to get into reverse mortgage business which helps NRMLA but not the current members. How come with all the money we are paying Peter Bell did NRMLA not see we were in for such a big cut in funds to borrowers?

James,rnrnSome people come to RMD before the emails go out. Keep the conversation on the subject at hand.

Right on floridareversemortgage guy….it would seem going forward more regulation/less principal available = less growth and fewer lenders.

Thanks Mr. Veale. We couldn’t be happier having Jeff join the team and are very excited about expanding our services to the industry.

Mr. Lunde,

Congratulations to RMI. Another bright strategic move forward.

Is it just me or is there a lot of money being invested in ancillary services and very little in actual production? I have nothing against access to information and training and new technology. The recent increase in these activities has caused me to wonder about the industry as a whole.

Am I alone in expecting very slow growth if any in the next year or so? Aren't we going to see more lenders leave and even more reluctance on the part of new investors to enter the business? FNMA will continue to downsize. Where's the growth coming from to warrant the recent investment activity on these services? Property values are not going to rebound that quickly to offset what should be the 15% drop in production expected as a result of the 10% cut. Interest rates have only one way to go. We haven't seen the last of regulatory issues or sensational headlines. There will be more changes to the program potentially including tax and insurance escrows, the HECM Mini and who knows what else coming which will only make seniors more confused and hesitant. New counseling protocol on it's way. Seriously, what do you really expect in terms of growth next year and the year after?

James,

Some people come to RMD before the emails go out. Keep the conversation on the subject at hand.

I have to agree. More and more small companies are getting hit with higher fees for surety bonds, broker/lender and sales people licensing, auditing cost and a slew of other new or higher expenses. At the same time we are all facing a much harder time getting loans in the door. “Sixty companies chasing forty loans” is one of the best ways I have heard our current market summarized.

Also how exactly is NRMLA helping its members in this? The agreement for the services to take $15 out of the SRP paid to brokers still is in effect to help with the cash flow yet NRMLA is way over funded. NRMLA is encouraging more companies to get into reverse mortgage business which helps NRMLA but not the current members. How come with all the money we are paying Peter Bell did NRMLA not see we were in for such a big cut in funds to borrowers?

Yes, that is what the story is about, obviously. The article stimulated some thought, which reading and many other forms of communication can do for some of us. Mr. Taylor is not going to work for free. Nor are the many others that are in the business and or are joining the business of providing information, training, IT, marketing services, lead generation, and other stuff. All this activity at a time when many people expect either side of zero growth strikes me as odd, or worthy of conversation.

So where are all the responses regarding expected growth for the next few years? Beuhler. Beuhler. Anybody?

floridareversemortgageguy,rnrnAre ancillary HECM services really expanding and growing or are they simply consolidating? Is some of the activity related to voids in certain sectors or is it that businesses are tripping over each other to share a smaller volume? Are you seeing increases in activities due to decisions that were made recently or many months ago? rnrnWhat is the premise for your contracted growth projection for the next few years? When did you make this determination — before or after HUD posted Mortgagee Letter 2009-34? What is your attitude about Mortgagee Letter 2009-34 and its long-term impact on the industry? rnrnWhat happens if Congress passes a significant, partial subsidy for this fiscal year instead of none? What if we are fully subsidized next month? What happens if there is a positive subsidy for the fiscal year ending September 30, 2011 but HUD (or Congress) allows the subsidy to be reflected through an increase in the MIP rate charged on the outstanding balance due monthly rather than keeping PLs as low as they are today?rnrnIt will be interesting to read your ideas.rn

JTWCT,rnrnYou are probably someone who attends all NRMLA meetings and speaks with Mr. Bell regularly. I am not in that category; however, I know some who are involved at that level. rnrnTruly Mr. Bell seems no different than anyone else who lobbies Congress. He is very bright and astute but has biases and receives false signals that at times result in missteps. Some NRMLA missteps may have occurred in the early part of the appropriations process particularly last spring but certainly not many, if any, missteps have occurred since then. rnrnIt seems NRMLA has coordinated with AARP over strategy throughout the process and has chosen its battles carefully and judiciously. You might disagree with the battles selected or the strategy used but from what I understand, NRMLA was very active throughout the process and discussed these issues with sufficient warning. rnrnOne legitimate question for NRMLA is why they feel they cannot circulate some of the issues at hand more openly without hurting their legislative strategy? Truly that is something that deserves airing and debate. To expect NRMLA to discuss everything openly is simply unrealistic if NRMLA is to have any expectation that members of Congress will work with them behind the scenes to help where possible. But NRMLA could stand to be a little more forthcoming with its members.rnrnBut who says 10% is the final reduction. It could be more or less depending on the contents of the appropriations bill that is ultimately enacted, if any. Because the Democrats control the White House and will soon return to their super majority status in Congress, it is not unrealistic to believe that H.R. 3288 will be amended in Conference and enacted. rnrnWhat seems far more troubling is the apparent lack of action by the MBA in the appropriations process. As a regular reader of RMD, one of the biggest reasons that commentators pointed to for supporting the move by the MBA to create a reverse mortgage section was their clout in legislative matters. As many know, NRMLA is known among us and some Congressional members but few others while literally everyone in the mortgage industry knows and respects the Mortgage Bankers Association. The appropriations process started in May but I cannot find the footprint of the MBA anywhere in respect to HECMs and H.R. 3288.rn