November 29th, 2010 | by John | published in Counseling, News, Reverse Mortgage, Technology
IBIS announced the release of RMQuote.com, a tool designed to help individual reverse mortgage loan officers follow the new HECM counseling protocols introduced earlier this year. Similar to ReversePackage, the new tool allows loan officers to customize exactly what they’re offering consumers.
November 29th, 2010 | by John | published in News, Reverse Mortgage
The Pennsylvania Department of Banking’s Office of Consumer Services is offering a free webinar on reverse mortgages for professionals who work with older adults on November 30th. The webinar will review the Department of Banking’s statement of policy on reverse mortgages issued earlier this year, which was meant to define proper conduct of lenders and [...]
November 29th, 2010 | by John | published in FNMA Homekeeper, News, Reverse Mortgage
The number of Americans who believe it’s a good time to purchase a home fell to 68 percent (down 2 percentage points since June) according to the third Quarter 2010 Fannie Mae National Housing Survey. Polled between July 2010 and September 2010, the results show that Americans are less certain the housing market has bottomed.
November 29th, 2010 | by Kelly | published in News, Reverse Mortgage
President Obama’s bipartisan Deficit Commission released a draft of its proposal to fix America’s budget issues and takes several steps to Strengthen Social Security. One of the most challenging goals, the Commission aims to return Social Security to a state of “sustainable solvency” for the next 75 years, while also reducing the rate of poverty [...]
November 28th, 2010 | by Neil | published in Counseling, FHA, News, Reverse Mortgage
As the federal government continues to insist on increasingly more diligent counseling protocols for reverse mortgage customers, the counselors charged with compliance are concerned about the “senior fatigue” that could ensue – an inability or unwillingness by older clients to sit through such sessions, now said to approach two hours in length. On top of [...]
November 28th, 2010 | by John | published in Chart of the Day, FHA, News, Reverse Mortgage
The latest actuarial report of the Federal Housing Administration’s reverse mortgage program shows estimates of the overall economic value of the HECM portfolio will fall to negative $503 million in fiscal year 2010 but increase to $5.8 billion in 2017. According to the report, the increase in value is most significant between FY 2010 and FY 2011 [...]
