Reverse mortgage applications have taken a dramatic turn for the worse since the Federal Housing Administration lowered principal limits for its reverse mortgage (HECM) program. According to data from RM Insight, applications shot up in September 2009 and took a jump off a cliff in October (see chart below, click for larger version).

Reverse Mortgage Daily and Reverse Fortunes are presenting another free training session on March 4, 2010 at 9 am PST.  Reverse Fortunes will give you the keys to prepare and adapt to succeed in today’s market despite a myriad of new regulations and an uncertain future.

Here are the latest jobs from Reverse Mortgage Jobs Online: Reverse Mortgage Loan Officers (Multiple States) Genworth Financial Reverse Mortgage Loan Originator (Experience Required) (TN, AL, MS.) MetLife Bank Reverse Mortgage Specialist (Pennsylvania, Delaware, New Jersey) Capital Mortgage Finance A Division of First National Bank of Chester County Loan Sales Inside / Outside (Nationwide) Avancos Reverse [...]

The US Department Housing and Urban Developments decision to require reverse mortgage counselors pass an exam is stumping veteran housing specialists says the Post and Courier. A HUD spokesman said the agency “acknowledges the test is intentionally difficult, but we believe it needs to be so because of the vulnerable population who seek out reverse [...]

The New York Times is reporting that stock and insurance brokers are fighting a provision included in the financial overhaul legislation to ensure decisions are made in the best interest of their clients.  According the NY Times:

New Beacon Financial rolled out a new media campaign with television commercial production agency Creative Bube Tube to draw attention to Reverse 123. The company recently opened its reverse mortgage division and plans to bring a new marketing and business philosophy to the Florida reverse mortgage market by implementing an extensive training program for all [...]