Comments on: Fighting Reverse Mortgage Attacks

By: Anonymous

Anonymous — Tue, 17 Nov 2009 18:54:00 +0000

I looked in my recycle bin for last Sunday’s Parade mag. 11/15/09. I did not see any rm article. What week was it in? Perhaps it was regional.rnDon’t you people remember the TV show that AARP did with Barney Frank about 2 weeks ago. I thought it was very positive. AARP is also giving the HECM counsellors test. Why would they do these things if they were against rm’s? rnreversemortgagessouthfloridaFHAhud

By: tishman

tishman — Tue, 17 Nov 2009 16:54:32 +0000

I looked in my recycle bin for last Sunday's Parade mag. 11/15/09. I did not see any rm article. What week was it in? Perhaps it was regional.
Don't you people remember the TV show that AARP did with Barney Frank about 2 weeks ago. I thought it was very positive. AARP is also giving the HECM counsellors test. Why would they do these things if they were against rm's?
reversemortgagessouthfloridaFHAhud

By: The_Critic

The_Critic — Tue, 17 Nov 2009 04:47:34 +0000

Oh the marketplace is still deciding what we can charge. What AARP did was cap what the marketplace can decide to pay us.

By: HECM_Dude

HECM_Dude — Mon, 16 Nov 2009 21:10:08 +0000

AARP has been sending me membership solicitations and “temporary” membership cards regularly over the past 11 years. Although I agree with much of its legislative agenda, I have refused to join AARP because of its for-profit endorsement activities. I am particularly annoyed at AARP for having influenced Congress to restrict our origination fee income, rather than let the marketplace decide what we will charge.

By: HECM_Dude

HECM_Dude — Mon, 16 Nov 2009 20:57:22 +0000

AARP, which ostensibly is a non-profit organization, has a for-profit subsidiary that endorses products and services — for a hefty fee. Most of these have been insurance policies. The AARP endorsement carries significant weight with senior and should not be taken lightly. I believe it is only a matter of time before AARP endorses a reverse mortgage company. The organization's exit from counseling, as well as its absence from this year's NRMLA agenda, point to that possibility. In addition to its endorsement fee, AARP probably will ask its partner (or partners) to be competitive in pricing and abide by some agreed-upon rules.

By: Oregongrown

Oregongrown — Mon, 16 Nov 2009 16:51:21 +0000

I have not renewed my membership to AARP for some time; since I realized they are NOT an advocate for seniors. It (AARP)will be rolling out the RM product eventually–they will have the only “safe” reverse product for seniors and the only “honorable” loan officers originating them.

By: Linda92714

Linda92714 — Mon, 16 Nov 2009 15:22:09 +0000

So, what is being done to fight these attacks? What can we do to fight them?

By: REVGUYJIM

REVGUYJIM — Mon, 16 Nov 2009 14:06:28 +0000

Ever notice there is not a single ad for reverse mortgages in the AARP monthly “Bulletin” to their members? Can't believe no lender has tried to place an ad there…