December 29th, 2010 | by John | published in News, Reverse Mortgage, Senior Housing
National Public Radio published a great series on one of the toughest questions the country faces when it comes to a growing older population. Should people stay and receive care in their home or move into a nursing home? The investigative report dives into a bunch of issues and they did some impressive data work [...]
December 29th, 2010 | by John | published in News, Retirement, Reverse Mortgage
A new brief issued by the Center for Retirement Research (CRC) at Boston College measured behavior of retirement-age workers with relatively high retirement assets before the economic downturn. It may not be surprising to know about 57 percent of those surveyed initially reacted to their loss in savings by planning to work longer, save more, [...]
December 29th, 2010 | by John | published in FHA, News, Reverse Mortgage
The Mortgage Bankers Association is concerned a proposal from the Department of Housing and Urban Development to force indemnification could penalize responsible lenders by requiring them to indemnify FHA for loans regardless of cause or materiality. Earlier this year, HUD proposed new regulations to strengthen its authority and force certain lenders to indemnify or reimburse the Federal [...]
December 28th, 2010 | by John | published in FHA, Legislation, News, Reverse Mortgage
President Obama signed legislation last week on Wednesday to fund the federal government through March 4th. A budget resolution known as a Continuing Resolution (CR) was forced by Senate Republicans who want to start enacting campaign promises to slash the federal budget in fiscal 2011, rather than wait until fiscal 2012. Next year, Republicans will control [...]
December 28th, 2010 | by John | published in Chart of the Day, Data, News, Reverse Mortgage
When it comes to reverse mortgages, loan age isn’t as important as borrower age as far as being a strong driver of prepayment rates. As borrowers get older, the odds of the loan prepaying continues to increase. According New View Advisors, data shows that for seasoned HECM loans, 64 year-old borrowers have prepaid at a [...]
December 28th, 2010 | by John | published in News, Reverse Mortgage
New data from the S&P Case-Shiller Home Price Indices shows a deceleration in the annual growth rates in 18 of the 20 MSAs and the 10 and 20-city composites in October compared to what was reported in September. The 10-City Composite was up only 0.2% and the 20-City Composite fell 0.8% from their levels in [...]
