This week, the Government National Mortgage Association (GNMA, or “Ginnie Mae”) announced that it had delayed a previously-declared January 1, 2021 restriction on the eligibility of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) for adjustable rate loans operating off of the London Interbank Offered Rate (LIBOR) index to March 1, 2021. The delay for originators […]
Reverse mortgage originators often find themselves in very difficult circumstances depending on the reason that clients reach out to them for help in the first place. Sometimes it’s for a more affluent person to get access to a product that can strategically help their portfolios, while other times it’s to try and make sure a […]
When looking at the levels of business for the reverse mortgage industry in the Mid-Atlantic region of the United States, a clear-cut contender for the highest levels of volume among the eight states and the District of Columbia clearly emerges. According to reverse mortgage loan data from the U.S. Department of Housing and Urban Development […]
The outbreak of the COVID-19 coronavirus pandemic has caused many American seniors to more seriously consider tapping their home’s equity to make ends meet in retirement. For some reverse mortgage professionals, the greater necessity for cash flow has translated into additional product inquiries and full loan pipelines. Still, no one is spared the economic impact […]
Reverse mortgage loan officers on the proverbial front lines of the business have had to contend with a number of issues stemming from the broad impact of the COVID-19 coronavirus pandemic, leading to sometimes uncomfortable conversations being had about how to adjust to a “new normal” in light of the pandemic. While an outside observer […]
