May 25th, 2012 | by Elizabeth | published in News, Reverse Mortgage
In case you missed it… here’s what’s happened in reverse mortgage news this week. An NPR segment talked home equity and reverse mortgages as an option for home owners. The segment asks: “So what should be done with the house? Try selling in a depressed market? Or rent it until prices perk up? Or would [...]
May 25th, 2012 | by Elizabeth | published in Celink, News, Reverse Mortgage
Reverse mortgage servicer Celink received improved marks from Standard & Poors this week, with an affirmed “above average” ranking as a servicer and raised sub-ranking from “above average” to “strong” for loan administration. “Celink, we believe, continues to show good experience levels,” the S&P report states, noting the company’s growing portfolio with additional growth expected [...]
May 24th, 2012 | by Elizabeth | published in News, Reverse Mortgage
A panel of financial planning professionals shared insight with attendees of the National Reverse Mortgage Lenders Association conference in Irvine, California last week. By and large their message to reverse mortgage professionals was: education is paramount. While some financial planners do understand the viability of reverse mortgage products and they ways in which they can [...]
May 24th, 2012 | by Elizabeth | published in News, Reverse Mortgage
Today’s homeowners owe $1.2 Trillion more than their homes are worth, real estate data hub Zillow reported Thursday. But the good news is: 90% are paying their mortgages on time, therefore the negative equity is a “paper loss.” “While it was disappointing to see negative equity numbers remain so high, it is important to note [...]
May 24th, 2012 | by Elizabeth | published in News, Reverse Mortgage, Training
Just a quick reminder: Reverse Fortunes is providing RMD readers with a FREE training session coming up on Thursday, May 31, noon to 1:00 PM EST (9:00 AM PST). Mark your calendar! The session, featuring input from National Reverse Mortgage Lenders Association legal counsel Jim Milano, addresses the topic of ethical product placement. There used to [...]
May 24th, 2012 | by Elizabeth | published in News, Reverse Mortgage
Credit unions are making waves in loan originations, including mortgages. A report from Washington, D.C.-based financial consulting firm Callahan & Associates released this month shows a record quarter for total loan originations produced by credit bureaus, at upwards of $72 billion in volume. “Originations during the first three months of 2012 exceeded $72.0 billion, up 25.3% over [...]
