Have you gone out to You Tube and checked out the videos about reverse mortgages? They range from silly to down-right scary and everywhere in between but are these video segments a good sales tool or just someone that is bored trying to get their fifteen minutes of You Tube fame? Well, here is our […]
Last week I had dinner with a colleague who is from the forward mortgage world and has started doing some reverse mortgages over the last 6 months. As we ate our dinner and drank our scotch and whined about the general market and economy, he blurted out that he thought there should be a Community […]
Enactment of the Housing and Economic Recovery Act (HERA) carries what many view as a long-awaited modernization of FHA rules for reverse mortgages. The new law, which lowers fees while raising loan limits, has the industry speculating that a significant rise will be seen in FHA-insured reverse mortgages among middle-class seniors. There are about 12 […]
“There’s no question about it. Wall Street got drunk — that’s one of the reasons I asked you to turn off the TV cameras — it got drunk and now it’s got a hangover. The question is how long will it sober up and not try to do all these fancy financial instruments.” –George W. […]
Have you ever considered buying leads from a non-profit, consumer advocacy referral service? Consumer advocacy? Ha! These lead companies are trying to sell consumers information at the end of the day but are disguising their efforts as a service to help seniors. These services are highly suspect as to whether they are soliciting loans from […]
Ouch baby, nothing like the metal chair over the back! It seems like the market has a sleeper hold on the parent company of Financial Freedom, IndyMac Bank posted a loss of $184.2 million, or $2.27 per share, for the quarter ended March 31. In the same period last year, it earned $52.4 million, or […]
Have you ever typed in www.reversemortgage.com? Guess where it goes….keep reading if you’re too lazy to click on the link. Whomever was responsible for acquiring that domain was a genius. What’s the value of that domain? A ton of money…..sadly, not enough to re-capitalize IndyMac… When it comes to branding, a company and/or an individual […]
Dear AARP, In recent months it has been explained by the leadership of the National Reverse Mortgage Lenders Association (NRMLA) that you continue to be concerned about the origination fees that are charged to seniors as part of the origination of a Reverse Mortgage. It has been stated that NRLMA and yourselves reached a compromise […]
Over the past 3 weeks we have seen the exit of at least 2 large wholesale players in the Reverse Mortgage market. Both have quietly packed up shop… No press releases and no major announcements about their closings or layoffs. The first new wholesale operation that we were aware of being scuttled was Deutsche Bank […]
