Only days after the Federal Reserve issued a proposed rule to reign in deceptive reverse mortgage advertising, Oregon Live is reporting that San Diego, CA, based EquiPoint Financial Network is mailing out fake checks to seniors that read “U.S. Economic Stimulus Package Approves New Payouts for Seniors”.
The marketing materials published on the website fail to [...]

CommunityONE, the public service Division of Security One Lending (S1L), and us here at RMD are teaming up to promote, organize, and mobilize a community service project in New Orleans before the National Reverse Mortgage Lenders Association’s Annual Conference in November.
Working with the Bayou Rebirth and Project 195, the reverse mortgage community will provide clean up [...]

The last year hasn’t been easy on the reverse mortgage industry, but during the National Reverse Mortgage Lenders Association’s “road show” attendees expressed some optimism about things to come.
With at least $140 million provided through the appropriation process so far and the possibility of a two product solution from the Federal Housing Administration, stars seems [...]

The San Antonio Business Journal (SABJ) is reporting that without a subsidy from Congress in the coming weeks, reverse mortgage industry leaders say the HECM could be more difficult to obtain.
While the House recently voted to provide $140 million for the HECM program, the Senate has yet to vote on its FY 2011 appropriation for the U.S. [...]

Massachusetts Governor Deval Patrick signed into law a bill that will provide homeowners facing foreclosure and tenants in foreclosed apartment buildings extra protections on Saturday.
The legislation has been declared emergency law, “necessary for the immediate preservation of the public convenience” as the state continues to struggle with a high rate of foreclosures; it has more than [...]

The Senate approved legislation giving the Secretary of the US Department of Housing and Urban Development the ability to increase annual premiums for single family loans insured by the Federal Housing Administration late Wednesday night.
HR 5981permits FHA to increase its annual premiums for “forward” loans from from 0.55 percent to 1.55 percent.  The agency also said it plans [...]

With the industry relying almost entirely on the support of a government insured HECM product, the need to communicate the importance of the product to representatives in Washington, DC, has never been more important.  Even with the support of organizations like the National Reverse Mortgage Lenders Association and Coalition for Independent Seniors, there hasn’t been a [...]