After Complaints from Viewers, Fox Runs Another Reverse Mortgage Segment

Fox News ran a follow up on reverse mortgages this morning after they received so many emails about the previous segment.

Bob Massi, a fox news legal analyst, said that he may have been a little misunderstood last week – actually wrong – that in fact, if you get a reverse mortgage, the heirs can keep the home if they pay back the loan.

Massi gives Peter Bell and the National Reverse Mortgage Lenders Association a big shout out as well, so it’s clear they reached out to him to explain the mistakes from last week.

Advertisement

Towards the end, the hosts asks Massi if he recommends the loans? Watch the video to find out his answer.

Join the Conversation (39)

see all

This is a professional community. Please use discretion when posting a comment.

  • Whether you have strong feelings about Fox News, one way or the other, you have to give them credit for going back and admitting that they needed to provide some clarification on a prior story. Quite honestly, I am shocked that they ran this corrective piece!

    Way to go NRMLA, and others, who reached out to let Fox know that they got it wrong the first time.

  • Whether you have strong feelings about Fox News, one way or the other, you have to give them credit for going back and admitting that they needed to provide some clarification on a prior story. Quite honestly, I am shocked that they ran this corrective piece!

    Way to go NRMLA, and others, who reached out to let Fox know that they got it wrong the first time.

  • As to the first clip, there was a little too much “conspiracy theory” in the vast majority of the RMD comments.

    Fox is conservative but TRIES to be fair and balanced about non-political issues. I do not believe that they are given sufficient credit for the news they do provide. This is an example of their efforts in that regard. Now as to politics and commentary, those are clearly different matters.

  • As to the first clip, there was a little too much “conspiracy theory” in the vast majority of the RMD comments.

    Fox is conservative but TRIES to be fair and balanced about non-political issues. I do not believe that they are given sufficient credit for the news they do provide. This is an example of their efforts in that regard. Now as to politics and commentary, those are clearly different matters.

  • Bob did a very nice job of correcting what he said before. It was not perfect but two things were shown: 1) Bob made a mistake and owned up to it, and 2) the people at Fox are not as unbalanced or as unfair as some insinuated. I am glad that NRMLA has now been endorsed by Fox News.

    Thanks to Peter Bell and the thoughtfulness of Bob Massi along with the staff at Fox News, a positive message now replaces a negative one. I just wish the “senior advocates” were as thoughtful and considerate.

    • The pen (and the keyboard) are mightier than the sword! I personally am satisfied with the update. Kudos to Fox and Mr. Massi for making a correction and the folks at NRMLA for taking action. My first reaction was “C’mon Bob..you were “misunderstood” as opposed to “I was wrong?”, but I put my hot head aside for a moment and realized this was splitting hairs in the world of journalism. And I agree with Critic, much respect due to a person that goes on national TV to correct himself. As I stated before, my letter to Bob insinuated that his opinion would be “misunderstood” as opposed to being “wrong”. I guess I got what I asked for….

    • The pen (and the keyboard) are mightier than the sword! I personally am satisfied with the update. Kudos to Fox and Mr. Massi for making a correction and the folks at NRMLA for taking action. My first reaction was “C’mon Bob..you were “misunderstood” as opposed to “I was wrong?”, but I put my hot head aside for a moment and realized this was splitting hairs in the world of journalism. And I agree with Critic, much respect due to a person that goes on national TV to correct himself. As I stated before, my letter to Bob insinuated that his opinion would be “misunderstood” as opposed to being “wrong”. I guess I got what I asked for….

  • Bob did a very nice job of correcting what he said before. It was not perfect but two things were shown: 1) Bob made a mistake and owned up to it, and 2) the people at Fox are not as unbalanced or as unfair as some insinuated. I am glad that NRMLA has now been endorsed by Fox News.

    Thanks to Peter Bell and the thoughtfulness of Bob Massi along with the staff at Fox News, a positive message now replaces a negative one. I just wish the “senior advocates” were as thoughtful and considerate.

  • I believe this is evidence of NRMLAs growing influence! Of all the misinformed newscasts over the past several years, how many have actually initiated a retraction? Great job Peter Bell!

    • isitfriday,

      I would not be so strong about the growing influence of a trade association of a dinky industry; however, that does not mean I do not wish your statement was right because I do.

      If Peter Bell is brought into the situation he does a great job of representing HECMs and the industry. But Peter has tried on many occasions before and failed. This shows not only the ability of Peter but also the willingness of Bob Massi to listen and learn as well as the folks at Fox News.

    • isitfriday,

      I would not be so strong about the growing influence of a trade association of a dinky industry; however, that does not mean I do not wish your statement was right because I do.

      If Peter Bell is brought into the situation he does a great job of representing HECMs and the industry. But Peter has tried on many occasions before and failed. This shows not only the ability of Peter but also the willingness of Bob Massi to listen and learn as well as the folks at Fox News.

  • I believe this is evidence of NRMLAs growing influence! Of all the misinformed newscasts over the past several years, how many have actually initiated a retraction? Great job Peter Bell!

  • While I do appreciate Fox airing a correction of the information imparted in a previous broadcast, I have a problem with commentary aired without due diligence in getting the facts straight in the first place. Journalists, whether on air or in writing, have a professional responsibility to thoroughly research their topics and qualify their sources. Many people may have heard only the first segment and will go forth misunderstanding RM’s and spreading bad information to others. If you’ve been in business you know that one complaint can do more harm than the good done by 100 praises.

    • patzg,

      In a perfect world you are right; however, TV news and written press are two different things. The written news has time to create their communications but that is rarely the case with TV news.

      My problem is not with Fox News; it is with the likes of NBC news, US News, and Consumer Union with its subsidiary, Consumer Reports. None of them have even recognized they may be wrong or have reported things in a manner that even suggests that they may have exaggerated the truth in their prior reporting. In fact the Today Show continuously distorts the facts about reverse mortgages without correcting any of their prior statements. Senior advocates still attack our product based on some indiscernible criteria and discredited anecdotal “evidence”; they provide no clear guidelines other than condemning almost every reasonable use of the proceeds.

      Rather than merely retracting their prior report, Fox News spent additional time to correct what they said. Yes, what Fox News did was wrong and may not undo what they originally did but they not only corrected their report but also now endorse NRMLA. I just wish others followed the example of Fox News.

    • patzg,

      In a perfect world you are right; however, TV news and written press are two different things. The written news has time to create their communications but that is rarely the case with TV news.

      My problem is not with Fox News; it is with the likes of NBC news, US News, and Consumer Union with its subsidiary, Consumer Reports. None of them have even recognized they may be wrong or have reported things in a manner that even suggests that they may have exaggerated the truth in their prior reporting. In fact the Today Show continuously distorts the facts about reverse mortgages without correcting any of their prior statements. Senior advocates still attack our product based on some indiscernible criteria and discredited anecdotal “evidence”; they provide no clear guidelines other than condemning almost every reasonable use of the proceeds.

      Rather than merely retracting their prior report, Fox News spent additional time to correct what they said. Yes, what Fox News did was wrong and may not undo what they originally did but they not only corrected their report but also now endorse NRMLA. I just wish others followed the example of Fox News.

  • While I do appreciate Fox airing a correction of the information imparted in a previous broadcast, I have a problem with commentary aired without due diligence in getting the facts straight in the first place. Journalists, whether on air or in writing, have a professional responsibility to thoroughly research their topics and qualify their sources. Many people may have heard only the first segment and will go forth misunderstanding RM’s and spreading bad information to others. If you’ve been in business you know that one complaint can do more harm than the good done by 100 praises.

  • Still an unclear explanation of how they work at payoff, but a big improvement from the last spot. Nice to have the NRMLA website mentioned as an information source.

    • Lance,

      Can you point to a better retraction when it comes to HECMs with a clearer correct statement about HECMs and endorsement of NRMLA? I can’t. As The_Cynic said it was not perfect but what is?

    • Lance,

      Can you point to a better retraction when it comes to HECMs with a clearer correct statement about HECMs and endorsement of NRMLA? I can’t. As The_Cynic said it was not perfect but what is?

  • Still an unclear explanation of how they work at payoff, but a big improvement from the last spot. Nice to have the NRMLA website mentioned as an information source.

  • I give a lot credit to Peter Bell and NRMLA for taking swift action. They got results quickly, my compliments to you Peter, way to go.

    However, I feel FOX & Friends and Bob Massi could have done a much better job. There were also other reverse mortgage media sources that went after FOX & Friends in a big way as well. Not taking anything away from NRMLA, the other sources were never mentioned but did their job for us behind the scenes.

    To start off, the news cast was supposed of been aired at 8:15 est, it ran 15 minutes earlier. FOX commentators did a decent job but Bob Massi fell short of trying to cover his tail.

    I felt Bob answered the questions poorly and had things out of sequence at times. Bob Massi is an amateur and it was evidenced by his clearing up so called misunderstandings of the report he gave on January the 20th.

    This should have been a retraction, NOT a polite clearing up any misunderstandings. If anyone watch the airing of Bob Massi on the 20th, they would have been appalled and outraged.

    Bob Massi should not have been the one giving yesterdays report. What was needed was for FOX to have had an industry professional to either debate Mr. Massi or preferably rebuttal the airing of the 20th. Also, the pro in our industry could have taken questions and answered them properly. This would have helped out our seniors tremendously and set the record straight the way it needed to be!

    I could say more about the two news casts but this is my take on this whole issue for now.

    Have a good day all,

    John A. Smaldone

    • John,

      As I asked Lance, I ask you. Can you give any example of a better retraction when it comes to reverse mortgages? I do not recall one. Most of the time our efforts are simply swept aside with no public response or apology.

      I do, however, agree with you that it could have been better but it was at least in my humble opinion sufficient and the best so far.

      Have a great weekend.

      • Critic,

        Good evening to you. Let me answer you the best way I can. First off, I have never seen this happen on a TV broadcast where reverse mortgages are concerned. Second, I always thought a retraction was when you retract what was said and you either restate it correctly or just leave it as “We apologies to our viewers but the airing of the report by Bob Massi was not the correct information”. I guess that would be to much to ask the news media these day’s.

        However, I see where you are going with this, you are saying they at least made the attempt to clear the air on the statements made. I agree with you on that. I still feel it was sloppy and poor reporting on both spots.

        I watch FOX all the time, I am not against FOX news. What I am against is bad reporting of the facts, regardless what station it is on. FOX was responsible, they had Bob Massi on their show, they should have conducted a better due diligent job.

        That is my take on it but I do see your point as well. You have a good weekend and take care.

        John Smaldone

      • John,

        Your response brings up two points. I actually preferred the second segment over a simple retraction for two reasons. The first reason is a retraction does not mean much unless a significant majority of the people who watched the first segment saw and listened carefully to the retraction to understand what was being retracted. Second, anyone who did not see the first segment only heard about HECMs in a reasonably positive light in the second segment.

        Quite frankly I do not remember any correction in print or otherwise by any major media outlet which matches this one. Again it was not perfect but certainly is a precedent to be used in future demands for retracting and correcting future erroneous reports by others.

        I have read retractions (but not on reverse mortgage misinformation) buried inconspicuously on Page A30 of a newspaper consisting of a few lines of print when the error was significant and the original story appeared as two full columns on Page A3 two weeks earlier. In one particular case the paper was told of and verified the error the same day it appeared in print; however, the retraction appeared to be the least delayed act of appeasement possible.

        Good luck in your new position.

      • Critic,

        You bring up good points and I will be open minded. I have always said I am smart enough to know that I am not smart enough.

        I feel the damage was done on the first go around, it will be hard to undo that. I think it is mainly up to us to rectify the wrong doing. You are right, at least it was a better than nothing aired spot. He did mention NRMLA which was good.

        Thanks for wishing me well, I appreciate you for it. You have a good Monday and thanks for the reply.

        Take care,

        John Smaldone

      • Critic,

        You bring up good points and I will be open minded. I have always said I am smart enough to know that I am not smart enough.

        I feel the damage was done on the first go around, it will be hard to undo that. I think it is mainly up to us to rectify the wrong doing. You are right, at least it was a better than nothing aired spot. He did mention NRMLA which was good.

        Thanks for wishing me well, I appreciate you for it. You have a good Monday and thanks for the reply.

        Take care,

        John Smaldone

      • John,

        Your response brings up two points. I actually preferred the second segment over a simple retraction for two reasons. The first reason is a retraction does not mean much unless a significant majority of the people who watched the first segment saw and listened carefully to the retraction to understand what was being retracted. Second, anyone who did not see the first segment only heard about HECMs in a reasonably positive light in the second segment.

        Quite frankly I do not remember any correction in print or otherwise by any major media outlet which matches this one. Again it was not perfect but certainly is a precedent to be used in future demands for retracting and correcting future erroneous reports by others.

        I have read retractions (but not on reverse mortgage misinformation) buried inconspicuously on Page A30 of a newspaper consisting of a few lines of print when the error was significant and the original story appeared as two full columns on Page A3 two weeks earlier. In one particular case the paper was told of and verified the error the same day it appeared in print; however, the retraction appeared to be the least delayed act of appeasement possible.

        Good luck in your new position.

      • Critic,

        Good evening to you. Let me answer you the best way I can. First off, I have never seen this happen on a TV broadcast where reverse mortgages are concerned. Second, I always thought a retraction was when you retract what was said and you either restate it correctly or just leave it as “We apologies to our viewers but the airing of the report by Bob Massi was not the correct information”. I guess that would be to much to ask the news media these day’s.

        However, I see where you are going with this, you are saying they at least made the attempt to clear the air on the statements made. I agree with you on that. I still feel it was sloppy and poor reporting on both spots.

        I watch FOX all the time, I am not against FOX news. What I am against is bad reporting of the facts, regardless what station it is on. FOX was responsible, they had Bob Massi on their show, they should have conducted a better due diligent job.

        That is my take on it but I do see your point as well. You have a good weekend and take care.

        John Smaldone

    • John,

      As I asked Lance, I ask you. Can you give any example of a better retraction when it comes to reverse mortgages? I do not recall one. Most of the time our efforts are simply swept aside with no public response or apology.

      I do, however, agree with you that it could have been better but it was at least in my humble opinion sufficient and the best so far.

      Have a great weekend.

  • I give a lot credit to Peter Bell and NRMLA for taking swift action. They got results quickly, my compliments to you Peter, way to go.

    However, I feel FOX & Friends and Bob Massi could have done a much better job. There were also other reverse mortgage media sources that went after FOX & Friends in a big way as well. Not taking anything away from NRMLA, the other sources were never mentioned but did their job for us behind the scenes.

    To start off, the news cast was supposed of been aired at 8:15 est, it ran 15 minutes earlier. FOX commentators did a decent job but Bob Massi fell short of trying to cover his tail.

    I felt Bob answered the questions poorly and had things out of sequence at times. Bob Massi is an amateur and it was evidenced by his clearing up so called misunderstandings of the report he gave on January the 20th.

    This should have been a retraction, NOT a polite clearing up any misunderstandings. If anyone watch the airing of Bob Massi on the 20th, they would have been appalled and outraged.

    Bob Massi should not have been the one giving yesterdays report. What was needed was for FOX to have had an industry professional to either debate Mr. Massi or preferably rebuttal the airing of the 20th. Also, the pro in our industry could have taken questions and answered them properly. This would have helped out our seniors tremendously and set the record straight the way it needed to be!

    I could say more about the two news casts but this is my take on this whole issue for now.

    Have a good day all,

    John A. Smaldone

  • Um, did anyone else not notice the “Shattered Dreams” and “Foreclosure” icons both at the bottom right of the screen on Fox and in the background? I think Fox got its message across of its opinion of reverse mortgages. So much for “Fair and balanced”

string(116) "https://reversemortgagedaily.com/2011/01/27/after-complaints-from-viewers-fox-runs-another-reverse-mortgage-segment/"

Share your opinion