The Texas Mortgage Bankers Association’s (MBA) 10th Annual Reverse Mortgage Day may be just in time, considering the industry’s changing lending landscape. The conference, which is co-hosted by the National Reverse Mortgage Lenders Association, kicks off on Wednesday evening, September 7, at the Hilton Post Oak in Houston, Texas. The following morning, on Sept. 8 [...]

Since the passage of the SAFE Act of 2008, mortgage originators have faced background and credit checks as components of the licensing process. Now, some lenders say, they are having a hard time with those basic requirements in light of the down economy. Under the Nationwide Mortgage Licensing System (NMLS) applicants must meet background and [...]

In 74% of U.S. cities, owning a home is more affordable than renting, says a recent report from online real estate resource Trulia. Trulia’s Rent vs. Buy Index compares the cost of buying and renting a two-bedroom apartment, condo or townhouse in America’s 50 largest cities and finds that overwhelmingly, owning a home is a [...]

Americans are suffering from low home values, lack of personal savings and battered retirement accounts, but they are showing commitment to saving, says a study of 500 middle-income Americans between the ages of 47 and 65. Of those surveyed, 32% have already paid off their mortgages, but close to half, or 48%, say they do [...]

Credit Unions (CUs) are sticking with reverse mortgages, despite the economic and housing crisis that has negatively affected the industry, says a Credit Union Times article. CU executives say they need to continue to make the product available to their customers who need it. The downturn in the industry, which can be partially attributed to [...]

Announced last week, the higher HECM loan limits determined by the Federal Housing Administration have been extended through calendar year 2011. After December 31, however, the fate of the loan limit remains to be seen. While lenders in high-value home areas are continuing to enjoy the $625,500 limit, many have speculated as to how many [...]