May 25th, 2011 | by Elizabeth | published in Data, News, Reverse Mortgage
Reverse Mortgage Daily’s data site, Reverse Base, is now up to date with the most current reverse mortgage information for 2011. Find information about the Top 100 lenders, top states for HECM loans, or search for information by lender name. Perusing the Top 10 lenders? We know, there’s a blank space for #6. We’re working [...]
May 25th, 2011 | by Alyssa | published in Counseling, News, Reverse Mortgage
Mortgage Banker’s Association Chairman Michael D. Berman, CMB, testified today during a Congressional hearing and asked that housing counseling funds be restored, including those for HECM counseling. He was speaking before the U.S. House of Representatives Financial Services Subcommittee on Insurance, Housing and Community Opportunity in a hearing titled ”Legislative Proposals to Determine the Future Role [...]
May 25th, 2011 | by Elizabeth | published in News, Reverse Mortgage
An American Banker article addresses rising tensions between mortgage lenders and home appraisers in light of new regulation under Dodd-Frank. With lenders being required to pay customary and reasonable fees under the new regulation, the article states, appraisers and appraisal management companies are now saying lenders have lowered their fees and are demanding more work [...]
May 24th, 2011 | by John | published in GNMA, News, Reverse Mortgage
The secondary market for reverse mortgages has been a volatile thing, but recent trends show investor demand has increased and execution continues to improve. Over the last few weeks, pricing has bounced back as new investors continue to move into the market, according to Jeff Traister, managing director and head of agency and non-agency reverse [...]
May 24th, 2011 | by Elizabeth | published in Data, FHA, News, Reverse Mortgage
Total HECM applications fell 16.6% in April, to 7,371, down from 8,838 applications in the previous month. Year over year, applications saw a 9.8% decline (see chart). To date, FHA has received 56,490 HECM applications in fiscal year 2011, ending Sept. 30, and projects the total number to reach 80,000 for fiscal year 2011.
May 24th, 2011 | by Alyssa | published in News, Reverse Mortgage
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development issued a joint press release today detailing trends for sales of new, single-family homes in April 2011, showing a 7.3% rise in home sales from March 2011. This puts the month’s estimated total at 323,000 sales, but the struggles of the housing [...]
