Under duress, even family members may be driven to steal from a senior relative who is receiving reverse mortgage proceeds. “There’s a lot of family fraud” in the reverse mortgage business, says Charles Martinez, a HUD field supervisor for quality assurance. And, the problem may go unnoticed in some cases for some time, according to [...]

In this year alone, the Federal Housing Administration’s Mortgagee Review Board (MRB) has taken nearly 1,500 administrative sanctions against lenders said the agency in a statement Monday.  These sanctions include reprimands, probations, suspensions, withdrawals of approval, and civil money penalties. The MRB published dozens of administrative actions against FHA-approved lenders who failed to meet its requirements in the [...]

Sam Collins is providing Reverse Mortgage Daily readers with another free training session on how to create and maintain a continuous flow of leads through networking and a strong referral program on Tuesday, August 10th at 2pm (EST). He will teach you to create multiple levels of networking and how to build your own army of reverse [...]

The Senate Appropriations Committee included $150 million for the Federal Housing Administration’s reverse mortgage program in the US Department of Housing and Urban Development’s FY 2011 budget, matching the amount provided by the House. Next the bills head to the full House and Senate for vote.  If each passes, House and Senate appropriation conferees will [...]

Along with new oversight of the reverse mortgage industry, passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. 4173) brings new appraisal independence requirements and grant funding for state oversight and enforcement of the regulations. “This bill will mean good news for consumers because they should see more reliable home appraisals,” said Leslie Sellers, President [...]

Check out the latest job openings from Reverse Mortgage Jobs Online: Reverse Mortgage Loan Officer (Nationwide) American Advisors Group Reverse Mortgage Consultant (Loan Officer) (Atlanta) Generation Mortgage Reverse Originator (Owings Mills, Maryland) Southern Trust Mortgage Reverse Originator (Kirkland) Stay in Home Mortgage Reverse Mortgage Originator (Plainville) Reverse Mortgage of New England Reverse Mortgage Sales Manager (United States) MetLife Bank Reverse [...]