New Principal Limits & the HECM Saver: How Does it Impact the Industry?

The Department of Housing and Urban Development made two big announcements this week that could change the industry.

To help reverse mortgage loan originators understand the principal limit changes and the new HECM Saver, Reverse Fortunes assembled a group of experts to explain how it will impact the industry.  The speakers include:

  • Dan Mooney Senior Underwriter at HUD’s Santa Anna Office
  • Thomas Elliot | Managing Director of Cantor Fitzgerald (Wall Street Broker/Dealer)
  • Jeff Traister | HMBS Trader, Cantor Fitzgerald (Wall Street Broker/Dealer)
  • John Lunde | President of Reverse Market Insight
  • Bill Trask | Chief Compliance & Partner at Security One Lending

The panelists will address how Mortgagee Letter 2010-34 changes the interest rate floor and what it means for borrowers.  Other topics include, the impact on the capital markets, who will benefit most from the HECM Saver as well as related compliance issues and planning.

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Monday, September 27, 2010 12:00 PM – 1:00 PM PDT

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  • With lenders paying fees and insurance etc. on Standard, what impact could it have? The bigger issue is the ridiculous Seattle Mortgage case. Ridiculous it truly is..but it’s out there. We don’t need something else to explain.

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