Reverse Fortunes is providing RMD readers with another free training session on September 2nd at 12:00 PM (EST). They will explain why the FIT (Financial Interview Tool) and the BCU (Benefits Check Up) will change the future of HECM counseling for your clients and how to prepare them.  Remember, the new HECM counseling protocol is [...]

Ginnie Mae announced that the corporation issued $37.8 billion in mortgage-backed securities (MBS) in July. “Continuing increases in Ginnie Mae security issuances is clear evidence of the secondary market’s continued confidence in Ginnie, through all economic environments,” said Theodore Tozer, Ginnie Mae president.

Bank of America Merrill Lynch closed a $92 million private placement security backed by “troubled” reverse mortgages insured by the Federal Housing Administration according to Total Securitization.  The deal is the first private label reverse mortgage securitization seen in the market since the downturn. Issued by Mortgage Equity Conversion Asset Trust Corporation, a shelf issuer that [...]

Data from the 2009 American Housing Survey (AHS) shows that while the number of people using reverse mortgages has increased dramatically, there is still plenty of opportunity for growth. Conducted by the US Census Bureau for the Department of Housing and Urban Development (HUD), the survey data shows that the number of homeowners using reverse [...]

NewDay Financial announced it has been selected by the Veterans of Foreign Wars (VFW) as its exclusive mortgage provider for group’s members.  Through the partnership, the Maryland based lender will provide VFW members with FHA, VA first mortgages, and reverse mortgages. “NewDay Financial demonstrated to us that they help their customers make the right choices,” said [...]

The National Council on Aging (NCOA), a leading nonprofit service and advocacy organization for older Americans, announced the addition of Madeline Halmo of Washington, D.C. as one of fifteen new staff members on Monday. Halmo joins NCOA’s Home Equity Initiatives and will provide support to NCOA’s Reverse Mortgage Counseling Services Network, one of five national counseling [...]