Existing home sales jumped 10 percent in September to a seasonally adjusted annual rate of 4.53 million according to the National Association of Realtors. While two months of increases in home sales is good sign, the seasonally adjusted rate remains 19.1 percent below the 5.60 million-unit pace in September 2009, when first-time buyers were ramping [...]

After the initial roll out of the HECM Saver, Vick Bott, Deputy Assistant Secretary for the Department of Housing and Urban Development said the agency would like to see it represent a minimum of 30 percent of all reverse mortgages it insures. Released earlier this month, the product provides consumers with less in proceeds but [...]

Reverse Fortunes Weekly Podcast Episode #126 Final segment of an interview with Vicki Bott, HUD’s Deputy Assistant Secretary, where she discusses the new PLF factors, HECM Saver, and her outlook on the reverse mortgage industry. To listen login or become a free member to listen to past & current episodes Talking Points: Goodbye HVCC? Harder [...]

As part of the Wall Street Journals Encore Report or the newly titled “Next” section, the publication features a quick note about the new HECM Saver. With lower upfront fees, the product is better for people with short-term needs, says Barbara Stucki, vice president of home-equity initiatives for the National Council on Aging, a Washington, [...]

The Mortgage Bankers Association (MBA) announced the election of Michael D. Berman as the 2011 Chairman at the association’s 97th Annual Convention & Expo in Atlanta on Monday. Berman currently serves as the Chief Executive Officer of CWCapital in Needham, MA, as well as the MBA’s Board of Directors of the Commercial Real Estate Finance [...]

Clear Capital reported a sudden and dramatic drop in US home prices on Friday.  Recent data shows a two month 5.9% price decline representing a magnitude and speed of decline not seen since March 2009. “Clear Capital’s latest data shows even more pronounced price declines than our most recent HDI market report released two weeks [...]