Biggest Reverse Mortgage News of 2010

With only a few more days until 2011, we thought it was the perfect time to reflect on the past year and that means showing you the biggest news of 2010.

While 2010 was a challenging year, it hasn’t been all negative.  The Department of Housing and Urban Development released a new low cost reverse mortgage product that the industry has wanted for years and even the principal limit reduction came with a bit of a surprise.  Probably the biggest news of the year comes from Ginnie Mae, which helped expand the secondary market and lower costs for consumers.  Without it, 2010 would’ve been a whole lot different.

With applications trending upward and a low cost reverse mortgage to offer consumers, things are looking up for 2011.  Before everyone starts celebrating the holidays with family, here are the most popular stories of 2010 based on the number of people who viewed them.

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  1. FHA to Increase MIP and Cut Principal Limit for Reverse Mortgage Product
  2. Bank of America Paying Entire Upfront MIP on Fixed Rate Reverse Mortgages
  3. FHA Updates HECM Program, Increases Proceeds for Many Borrowers
  4. New Low Cost Reverse Mortgage Product Coming in October says HUD
  5. FHA to Reduce HECM Proceeds and Raise Premiums in October
  6. MetLife Eliminates Origination and Servicing Fee, Trend Begins
  7. No Reverse Mortgage Origination Fee Trend, Will it Last?
  8. HUD Establishes New Reverse Mortgage Counseling Guidelines
  9. Changes have reverse mortgage originators holding their collective breath
  10. Appropriation for reverse mortgage program unlikely says HUD official

Thanks for all your support in 2010, get ready for more in depth reporting and new data services in 2011 through ReverseBase.

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