Aging in Place Networks Help Seniors Remain in Homes

The Washington Post is reporting that a recent AARP study of D.C. seniors who joined “aging-in-place” networks say the move has made them feel more engaged in their communities and more comfortable with their decision to stay in their homes. Researchers from AARP interviewed dozens of residents and volunteers from five “villages” — in Capitol […]

Issuance of Ginnie Mae Reverse Mortgage MBS Drops in January

The Government National Mortgage Association (Ginnie Mae) announced that it guaranteed more than $38.1 billion in mortgage-backed securities (MBS) in January. The corporation also reported that in January, 2.35 percent of the Single-Family loans in Ginnie Mae guaranteed securities were 90-days or more delinquent, down significantly from 3.40 percent in January 2009. Ginnie Mae II […]

Latest Reverse Mortgage Jobs Posted

Here are the latest jobs from Reverse Mortgage Jobs Online: Reverse Mortgage Loan Officers (Multiple States) Genworth Financial Reverse Mortgage Loan Originator (Experience Required) (TN, AL, MS.) MetLife Bank Reverse Mortgage Specialist (Pennsylvania, Delaware, New Jersey) Capital Mortgage Finance A Division of First National Bank of Chester County Loan Sales Inside / Outside (Nationwide) Avancos […]

KBC Unloads SLN Reverse Mortgage Portfolio

KBC sold its US reverse mortgage portfolio and said it will free up roughly $800 million dollars of cash in a company statement. The portfolio was previously held by a subsidiary of KBC Financial Products, which owns the Senior Lending Network. While KBC didn’t disclose the buyer, sources close to the deal tell RMD that […]

Training Reminder: Surviving the Changes in the Industry

Just a quick reminder that Reverse Fortunes is providing RMD readers with another free training session on March 4, 2010 at 9am PST. Reverse Fortunes will provide you with the keys to prepare and adapt to succeed in today’s market despite a myriad of new regulations and an uncertain future. They will provide practical tips […]

HUD Secretary Testifies on FY 2011 Budget Request

“While the economy has a long way to go to reach full recovery, and the promising indicators emerging steadily are not being experienced by all regions or communities equally, it is clear that we have pulled back from the economic abyss on which the nation stood a year ago,” said Shaun Donovan, Secretary of U.S. […]

Reverse Mortgage Application Volume Continues to Slide Says FHA

The Federal Housing Administration’s latest Outlook Report shows that reverse mortgage applications continue to slide. In January, the agency reported it received 5,805 applications for reverse mortgages (HECM), down 16.2% from the prior month and 54.2% lower than the same period in 2009. Reverse mortgage applications weren’t the only product showing a decrease in volume. […]

HUD to to Provide Mortgage Bankers Additional Time to Increase Net Worth

The US Department of Housing and Urban Development is planning to give mortgage bankers additional time to adjust their net worth requirements to $2.5 million says National Mortgage News. During a legislative conference sponsored by the National Association of Mortgage Brokers, Federal Housing Administration assistant Secretary Vicki Bott told attendees HUD is preparing to issue […]

Reverse Mortgage Lender Adds More Credit Union Partnerships

Golden Gateway Financial continues to expand its partnerships with credit unions with the addition of Patelco Credit Union, USA Fed, and Grossmont Schools Federal Credit Union. Each of the credit unions chose Golden Gateway as their exclusive provider of reverse mortgage information, tools and products said a company statement. “Older Americans are still vulnerable to […]

FFIEC: Reverse Mortgage Market Growth Has Created Lucrative Environment for Fraud

The Federal Financial Institutions Examination Council (FFIEC) released an updated edition of its white paper on mortgage fraud detection and deterrence. The Detection and Deterrence of Mortgage Fraud Against Financial Institutions: 2009 Mortgage Fraud White Paper is meant to help examiners understand, identify, and detect mortgage fraud schemes and elements. New to the white paper […]