February 25th, 2011 | by Elizabeth | published in News, Reverse Mortgage, Technology
A Rockville, Md.-based appraisal company is gearing up to launch a smartphone application, Coester Connect, that will allow appraisers and servicers to communicate directly with clients and vendors. Coester Appraiser Group is currently testing the application, and looks forward to its debut in late spring or early summer. “We’ll be able to get instant feedback [...]
February 25th, 2011 | by John | published in Leads, News, Reverse Mortgage
Reverse Rate, a lead provider for the reverse mortgage industry announced a new type of campaign earlier this week. The company is now offering leads where seniors have already been through HECM counseling, a requirement of the Department of Housing and Urban Development.
February 25th, 2011 | by John | published in News, Retirement, Reverse Mortgage
The Wall Street Journal is reporting that the median household headed by a person aged 60 to 62 with a 401(k) account has less than one-quarter of what is needed in that account to maintain its standard of living in retirement. Using data from compiled by the Federal Reserve and analyzed by the Center for [...]
February 25th, 2011 | by John | published in Legislation, News, Reverse Mortgage
Last week, after the Office of Management and Budget released President Obama’s 2012 budget proposal, discussions arose around Washington D.C. about funding for various government bodies. Among them was the Consumer Financial Protection Bureau, which feared a provision proposed by House Republicans that would reduce funding for the CFPB by 40%, compared with the budget [...]
February 25th, 2011 | by Elizabeth | published in News, Reverse Mortgage
New home sales drooped in January, falling 12.6%, according to Commerce Department data. The decline amounts to a seasonally-adjusted annual rate of 284,000 units and largely offsets a substantial sales gain in California posted in the previous month, due in part to a tax break expiring in California, the Commerce Department said in a report. [...]
February 24th, 2011 | by John | published in Data, FHA, Generation Mortgage, GNMA, News, Reverse Mortgage
During testimony before the House subcommittee last week, David Stevens, FHA Commissioner, said bringing private capital back into the mortgage markets is a critical component to further recovery of the broader economy. “This administration believes that the current level of government support for housing finance is unsustainable and unacceptable for the permanent state of this [...]
