The Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2010-03 to announce it will be using its regulatory authority to terminate a mortgagee’s authorization to underwrite single family loans in geographic areas where the lender has a high rate of early defaults and claims. Currently, HUD exercises its authority to terminate only the [...]

Just a quick reminder that Sam Collins is providing Reverse Mortgage Daily readers with another free training session on February 2, 2010 at 2:00 PM. Sam will show you how to build solid relationships with your seniors that increase originations, loyalty, and get more referrals.  You’ll discover the value of building relationships and keeping them, [...]

Silver Planet announced a new partnership with NewRetirement, a website dedicated to helping people concerned about retirement find the information they need to create a secure future. Founded in 2008, Silverplanet is a web site developed to empower baby boomers and seniors to age with a “choice” said a company statement.

If we could really see into the future, we’d all be filthy rich – not to mention happier and healthier – the result of always having winning lottery tickets and avoiding every failing that might come our way. But unable to truly know what lies ahead, we do the next best thing: guess. Reverse mortgage [...]

Washington Post contributor Jack Guttentag writes in his latest column that Reverse mortgages are not the next subprime.  He adds that:

The current economic crisis and burst of the housing bubble has had a significant impact on the reverse mortgage guarantee provided by HUD on HECM loans according to an article by Jonathan Glowacki and Mike Jacobson of Milliman on Friday at Mortgage News Daily. The extremely technical article on the economic basis for the future [...]