Security One Lending announced the management team of Seniors Reverse Mortgage will be joining the company to manage the branch development side of the San Diego, CA based reverse mortgage lenders business. “We believe the addition of David Stevenson, Christine Louie, and Bill Smith will strengthen the overall management team of S1L.  They have certainly [...]

Reverse Fortunes Weekly Podcast Episode #118 HECM Saver details emerge, listen for more info To listen login or become a free member to listen to past & current episodes Talking Points: New Federal Reserve focus group reveals surprising results on reverse mortgages New HECM Saver product details emerge Reverse Mortgage Daily & Security One Lending [...]

Landmark Reverse is rolling out a web based forum for DE underwriters and senior management to discuss issues impacting the reverse mortgage industry. According to the company, the forum has been in beta mode for the last month and has at least a dozen underwriters who already participating.  Members are discussing a range of topics [...]

During a call with industry leaders last week, the Department of Housing and Urban Development said it plans to raise the annual insurance premium charged to borrowers and reduce the amount of money they can receive from the Home Equity Conversion Mortgage (HECM). Starting Oct. 4th, the principal limits for Federal Housing Administration’s reverse mortgage [...]

The number of seniors taking out reverse mortgage applications fell 1.4% from June, coming in at 8,961 units during July according to a report from the Federal Housing Administration. It’s the first decrease in the number of HECM applications after five consecutive months of increases.  For FY 2010, applications for reverse mortgages are down 44.3%.

Just a quick reminder that Reverse Fortunes is providing RMD readers with another training session on September 2nd at 12:00 PM (EST). Reverse Fortunes will explain why the FIT (Financial Interview Tool) and the BCU (Benefits Check Up) will change the future of HECM counseling. They will make sure you have the tools to prepare clients for the [...]