First LIBOR Based Reverse Mortgage Announced

Lender Lead Solutions officially announced that they plan to offer a LIBOR based HECM product to their brokers.  Back in July, HUD approved the use of the LIBOR index and lenders recently started talking about offering LIBOR based products ever since the HECM 100 started to disappear. “Making the transition makes perfect sense, the LIBOR-based […]

Financial Freedom HECM Fixed Details

Last week Financial Freedom announced the release of their new HECM Fixed product.  Over the weekend I received some of the details on the program.  I was thinking the product would be the standard HECM product that has been released by other lenders, but I noticed one major difference.  The HECM fixed product gives borrowers […]

Financial Freedom Releases HECM Fixed Reverse Mortgage

Today, Financial Freedom announced the release of their new HECM Fixed product.  The HECM Fixed has been getting a lot more attention since the HECM 100 is starting to disappear.  Financial Freedom designed the product with the expectation that it will appeal to the secondary market and give seniors the most benefit possible.  The Fixed HECM offers […]

Ginnie Mae Releases HECM Mortgage Backed Security Program

On September 1st, Ginnie Mae officially released their HECM Mortgage Backed Security (HMBS) program.  Ginnie Mae’s HMBS are standardized mortgage-backed securities (MBS), which are collateralized by FHA insured HECM loans.  The HMBS is a new class of Ginnie Mae security backed by HECM loan participation’s under the umbrella of the Ginnie Mae II Custom Program. […]

Financial Freedom Begins To Phase Out HECM 100

Financial Freedom is officially starting to phase-out the HECM 100 and HECM Advantage products.  They recently sent out information to its correspondents that set out the timetable under which that suspension will be phased in..  They did note, that at any point, market conditions improve to the point that we judge the 100 and Advantage […]

Lender Lead Solutions Expands Reverse Mortgage Advertising Campaign

For all you Robert Wagner fans, make sure you check out the new video from Lender Lead Solutions that features the man himself standing next to a classic car and sporting a new hair color.  The new video kicks off the first phase of LLS new national television advertising campaign, “Better Over Time”.  The Senior […]

Wells Fargo Gets Into The Reverse Mortgage Wholesale Business

It’s official… the largest HECM originator in the country has entered the reverse mortgage wholesale business.  I’m surprised it took Wells Fargo this long to get into the business but I’m sure they’re looking for production after they recently decided to close down their subprime wholesale division. Wells is offering two different avenues to their brokers […]

New Jumbo Reverse Mortgage Products From 1st Reverse

While there has been talk of lenders no longer offering the HECM 100, 1st Reverse Financial continues to release new products to their brokers.  A few weeks ago, 1st Reverse released their new HECM Pathway which is an FHA insured loan created to serve those needing more funding assistance than is provided by any other […]

Have We Seen The Last of The HECM 100?

The past week or so has been an interesting time in the reverse mortgage world.  Early last week, out of nowhere I received an email from Sun West that said they would no longer accept any HECM 100 submissions unless it was already in the current pipeline.  Surprised?… Yes. Shocked… no.  With the liquidity crunch […]

Reverse Mortgage Securities Continue to Grow Internationally

Looking to capitalize on the booming reverse mortgage market in Australia, Commonwealth Bank of Australia was hired by a non-bank to manage the sale of bonds backed by reverse mortgages.  According to the Bloomberg article, the bonds will be sold in Australian and New Zealand dollars within six months, said Matthew Lever, senior manager of securitization […]