Comments on: Are Reverse Mortgage Pricing Changes Confusing Consumers? http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/ Reverse Mortgage News and Information Sat, 26 May 2012 06:42:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Anonymous http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-38617 Anonymous Sat, 01 May 2010 22:16:00 +0000 http://reversemortgagedaily.com/?p=4363#comment-38617 mrreverse,rnrnRegguy1 brings up an important application of the fiduciary duty standard that all originators who are required to be licensed under the NMLS (not necessarily those who are only required to register) in California are governed by. Under that standard we must put the financial interests of the consumer above our own. That is a much higher standard than merely helping consumers figure out what products are best suited to them. mrreverse,rnrnRegguy1 brings up an important application of the fiduciary duty standard that all originators who are required to be licensed under the NMLS (not necessarily those who are only required to register) in California are governed by. Under that standard we must put the financial interests of the consumer above our own. That is a much higher standard than merely helping consumers figure out what products are best suited to them.

]]> By: James_E_Veale_CPA_MBT http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-37017 James_E_Veale_CPA_MBT Sat, 01 May 2010 20:16:55 +0000 http://reversemortgagedaily.com/?p=4363#comment-37017 mrreverse,<br><br>Regguy1 brings up an important application of the fiduciary duty standard that all originators who are required to be licensed under the NMLS (not necessarily those who are only required to register) in California are governed by. Under that standard we must put the financial interests of the consumer above our own. That is a much higher standard than merely helping consumers figure out what products are best suited to them. mrreverse,

Regguy1 brings up an important application of the fiduciary duty standard that all originators who are required to be licensed under the NMLS (not necessarily those who are only required to register) in California are governed by. Under that standard we must put the financial interests of the consumer above our own. That is a much higher standard than merely helping consumers figure out what products are best suited to them.

]]> By: Regguy1 http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36983 Regguy1 Wed, 28 Apr 2010 16:48:10 +0000 http://reversemortgagedaily.com/?p=4363#comment-36983 Is the fixed always the best fit for your clients or is it more beneficial to you? Seems to me that the industry has migrated to the fixed HECM as that's where the money is. When they originally came out with the fixed, we were advised to sell these only to those in need of all of the proceeds. The percentage of fixed to adjustable has become astounding. Is the fixed always the best fit for your clients or is it more beneficial to you? Seems to me that the industry has migrated to the fixed HECM as that's where the money is. When they originally came out with the fixed, we were advised to sell these only to those in need of all of the proceeds. The percentage of fixed to adjustable has become astounding.

]]> By: Guest http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36975 Guest Wed, 28 Apr 2010 13:23:54 +0000 http://reversemortgagedaily.com/?p=4363#comment-36975 Feel for us in NH where YSP has been band Feel for us in NH where YSP has been band

]]> By: dsoucy http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36972 dsoucy Wed, 28 Apr 2010 13:21:33 +0000 http://reversemortgagedaily.com/?p=4363#comment-36972 While all the changes are great for our seniors and help those who at one time couldnt do a reverse. HOWEVER for originators like myself It has managed to hurt my business completely. Here in NH YSP is band, small brokers & community banks are also feeling this in NH. While all the changes are great for our seniors and help those who at one time couldnt do a reverse. HOWEVER for originators like myself It has managed to hurt my business completely. Here in NH YSP is band, small brokers & community banks are also feeling this in NH.

]]> By: reversemaniac http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36973 reversemaniac Wed, 28 Apr 2010 13:19:17 +0000 http://reversemortgagedaily.com/?p=4363#comment-36973 These reductions in cost to the borrowers are providing our industry with the best positive press I have seen in over 10 years! These reductions in cost to the borrowers are providing our industry with the best positive press I have seen in over 10 years!

]]> By: mrreverse http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36974 mrreverse Wed, 28 Apr 2010 13:15:34 +0000 http://reversemortgagedaily.com/?p=4363#comment-36974 I originate in Northern California and I expected many of my "undecided" borrowers to jump at the chance to get a low cost fixed rate HECM. I offer no origination fee, no servicing fee, no other closing costs and I pay down some of their MIP, but this doesn't seem to move them toward making their decision. Cost apparently isn't a big barrier to the product. I originate in Northern California and I expected many of my “undecided” borrowers to jump at the chance to get a low cost fixed rate HECM. I offer no origination fee, no servicing fee, no other closing costs and I pay down some of their MIP, but this doesn't seem to move them toward making their decision. Cost apparently isn't a big barrier to the product.

]]> By: Kim Stokes-Harrison http://reversemortgagedaily.com/2010/04/27/are-reverse-mortgage-pricing-changes-confusing-consumers/comment-page-1/#comment-36966 Kim Stokes-Harrison Wed, 28 Apr 2010 12:45:07 +0000 http://reversemortgagedaily.com/?p=4363#comment-36966 The change has been wonderful for my clients. Who is complaining? The change has been wonderful for my clients. Who is complaining?

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