PRMI’s Sless Group Spearheads New Reverse Mortgage Video Series

Primary Residential Mortgage (PRMI)’s Steven J. Sless Group, the lender’s consumer-direct retail branch focused solely on reverse mortgages in Owings Mills, Md., has spearheaded the creation of a new, reverse mortgage-focused video series designed to appeal to seniors and to present accurate information about the reverse mortgage product category. Beginning this month and launching weekly […]

LIBOR Restriction Delay Decided With Reverse Mortgage Industry Input, Originators React

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 Lending Limit Rise Could Help Needs-Based High Value Homeowners

Reverse mortgage borrowers who have higher value homes and may still find themselves in an economically difficult situation may see the increase in the Home Equity Conversion Mortgage (HECM) lending limit as a very helpful occurrence in the new year, according to one originator. Remaining 2020 reverse mortgage business around the country is also expected […]

Reverse Mortgage Originators: 2021 Lending Limit Encouraging, Changes Still Possible

The increase of the Home Equity Conversion Mortgage (HECM) lending limit to $822,375 in 2021 will prove to be a boon to opportunities available in the industry, allowing for originators to serve borrowers with higher value properties while also giving the reverse mortgage product category more prominence in the lending space. However, lending limits higher […]

What Parenting During the Pandemic is Like for Reverse Mortgage Pros

As the impact of the COVID-19 coronavirus pandemic continues to affect the lives of millions of people all across the United States and around the world, the guidance handed down from health officials strongly suggests that people maintain social distance and refrain from spending time in crowds whenever possible. This has led to the wide […]

PRMI’s Sless Group Adds Susserman as Loan Originator

Primary Residential Mortgage (PRMI)’s Steven J. Sless Group, the lender’s consumer-direct retail branch focused solely on reverse mortgages in Owings Mills, Md., has hired Joseph Susserman as a reverse mortgage loan originator to its primary office. Susserman has 10 years of mortgage industry experience he will be bringing to his new role, including from previous […]

What Rising Reverse Mortgage Refinances Could Mean for the Industry

Refinance transactions are commonplace in the broader world of mortgages, and they appear to be increasingly common for the reverse mortgage industry. As low interest rates continue to fuel mortgage production generally, many reverse mortgage borrowers have become interested in refinances to take advantage of the current low-rate environment. Interest in this kind of activity […]