I’ve been hearing from several HECM counselors and reverse mortgage lenders about the problems associated with some of the new counseling procedures and FHA Connection.  Below is an article written by Enrique M. Juarez, HECM Manager, CCCS of Orange County to help explain some of the issues. Technology

All originators experienced it. No one seemed to like it. Several in the industry tried to warn us it was coming. No one knew when it arrived what would happen. When it arrived, the majority of those who spoke out blamed HUD; however, the real culprit was and still remains — Congress and perhaps even [...]

As the reverse mortgage industry faces a $798 million subsidy request, there is plenty of discussion from industry leaders and politicians about how to change the program to ensure its success and viability.    The knee jerk reaction from most is to cut the principal limit to ensure that no subsidy is needed for the government [...]

The September 2009 issue of Consumer Reports (CR) contains what CR labels an investigative report on reverse mortgages, titled “Reversal of Fortunes.” Its subtitle is: “The next financial fiasco? It could be reverse mortgages.” It is a lengthy article which makes many accusations while covering an array of subjects all without any of the earmarks [...]

This article has been written in response to the Reverse Mortgage Daily (RMD) article titled Negative Loan Growth Hits Reverse Mortgage Credit Lines, that covered a news story on Mr. Donald Conn. If you have not read his story, it is worth the read. However, the story does not indicate what kind of reverse mortgage [...]

On a daily basis, we hear about the economic crisis and the hardships plaguing our country, from the loss of jobs, to high unemployment rates, crashing property values and companies closing up shop. It’s disconcerting to say the least. What I find to be more disturbing is that our lawmakers would reject a $789 million [...]