The US Department of Housing and Urban Development published the 2011 Congressional Justifications for the FY 2011 Budget which provides more information regarding the OMB’s $250 million credit subsidy request for the Federal Housing Administration’s reverse mortgage program.
According to the Mortgage and Loan Insurance Program (FHA Fund) document, the HECM program in FY 2010 [...]

India’s Financial Chronicle is reporting that few banks and insurance companies have started offering the new reverse mortgage product which was recently updated to provide monthly payments for the remainder of the borrowers life.
It has been over three months since the new product was announced and yet the only companies who have signed up [...]

The Obama Administration announced earlier this week that it was requesting a $250 million credit subsidy for the Federal Housing Administration’s reverse mortgage program along with a contingency appropriation to meet all program demand.
In addition to the subsidy request, Secretary Donovan told a group of attendees at the Brooke-Mondale Auditorium at HUD’s headquarters in southwest [...]

“No one wants grandma to suffer in her sunset years. So what if Johnnie gets a little less inheritance?” asks an AOL Housing Watch article on reverse mortgages.
While there is very little in the article that a reverse mortgage loan officer might not know, the article generated plenty of comments from the AOL community (over [...]

Reverse Fortunes Weekly Podcast Episode #86

Are you creditworthy for NMLS license?
To listen login or become a free member to listen to past & current episodes.
Talking Points:

Are reverse mortgage originators at a disadvantage for SAFE Act test?
New regulations target smaller reverse mortgage lenders
HECMS are not subsidizing rest of FHA study says
Hearing voices? [...]

An elderly couple inquires about refinancing their reverse mortgage. Their fees will be around $8,000 while their principal limit would increase by $10,000. But is it a good decision?
RMD set out to see whether there is a standard to guide reverse mortgage loan officers in determining whether it makes sense to refinance a HECM [...]

In what was described by its moderator as “very lively, for the last session on a Friday,” a panel discussion at a meeting of the National Conference of State Legislatures in San Diego last month once again demonstrated some different and enduring perspectives on reverse mortgages.
Panel participants included: Peter Bell, president of NRMLA; Rick [...]