Reverse Mortgages are Subprime Loans?

“A lot of these activities are illegal. We have a high rate of senior citizens and immigrants here, and these lenders are preying on the elderly with reverse mortgages that are really subprime loans.”          – Leroy Comrie, City Councilman (D-Queens). In today’s New York Daily News there is an article that discusses how subprime loans […]

Reverse Mortgages: Government Sponsored & Insured Payday Loans?

The next looming crisis is on the horizon and has started to trickle into the marketplace for the Reverse Mortgage industry. The coming crisis is the public perception that the rates and fees for Reverses are too high and that the government, regulators, investors, industry trade groups and others should establish standards on the origination […]

Reverse Mortgages, not your Steak and Potatoes anymore

As an attendee of the National Reverse Mortgage Lenders Conference in Newport Beach, I noticed that many new wholesalers and large investors from the REIT world and Wall Street were perusing the grounds. Of course the 800 pound gorilla was there and a handful of new entrants with some big pockets backing those entrants along […]