Ginnie Mae to Provide Detailed Reverse Mortgage MBS Data
Ginnie Mae announced that it will be providing direct access to data disclosure information for the purpose of improving the transparency of Ginnie Mae mortgage-backed securities (MBS).
Ginnie Mae’s disclosure webpage includes data on newly issued pools and pool level statistics. In addition, a new search engine will allow users to obtain monthly disclosure data for [...]
Free Reverse Mortgage Training, Using Webinars to Build Your Business
Just a quick reminder that Monte Rose will be providing another free reverse mortgage training session to RMD readers on Wed September 2 at 12pm (EST). Monte will show you how to reach your referral partners using a webinar so you can connect with all of them at one time.
In the September training session, [...]
Financial Freedom, HECM Counselors, and More Looking to Hire
Just a few new jobs from reverse mortgage Jobs Online:
reverse mortgage Specialist (Denver) Financial Freedom Senior Funding Corporation
reverse mortgage Specialist (Brockton) Financial Freedom Senior Funding Corporation
Housing Counselor (HECM certificate required) (Boston Area) American Consumer Credit Counseling
reverse mortgage Originator - Virtual Banker (Nationwide) Allied Mortgage dba Reverse Ultra
reverse mortgage Specialist (Florida) AAXA Mortgage [...]
$798 Million Subsidy: Time to Change the FHA Insured Reverse Mortgage Program?
As the reverse mortgage industry faces a 8 million subsidy request, there is plenty of discussion from industry leaders and politicians about how to change the program to ensure its success and viability.
The knee jerk reaction from most is to cut the principal limit to ensure that no subsidy is needed for the government [...]
WSJ: Reverse Mortgage Frauds Latest Twist
A new article from the Wall Street Journal details how a retired auto mechanic used the money he received from a reverse mortgage to pay off his existing ,000 mortgage and "piddled away" the remaining ,000 on things like restaurant meals for his four girlfriends, he says.
Unfortunately, the owner of the Orlando, Fla., title [...]
Fannie Mae and T&I Defaults, Significant Issues Facing Reverse Mortgage Industry
MortgageOrb editor Phill Hall sits down with John LaRose, CEO of reverse mortgage subservicer Celink to talk about how the industry is handling the recession and the challenges it faces in the coming years.
Specifically, LaRose tells MortgageOrb that the two most significant issues facing the industry are the reliance on Fannie Mae and the [...]
OIG: Bank of America Reverse Mortgage Servicing Operation Out of Compliance
The Office of the Inspector General for the U. S. Department of Housing and Urban Development’s (HUD) reviewed Bank of America’s home equity conversion mortgage (HECM) servicing division in Seattle, Washington and found that the servicer did not comply with two HUD requirements in its administration of HECM loans.
According to the report, Bank of [...]
Data Shows that Optimism Grips Homeowners
Data released from Zillow’s second quarter Real Estate Market Report shows that American homeowners are much more realistic about their own homes’ values than they were one year ago, but are more optimistic about the future than at any other time in the past year.
Homeowners’ relatively more realistic perceptions of home values over the [...]
No HVCC for Reverse Mortgage Industry Says FHA Commissioner
The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct (HVCC), said Commissioner David Stevens to a delegation from the National Association of Mortgage Brokers (NAMB).
Stevens said that he was well aware of the problems originators have been having with the code, and that FHA is not considering adopting the [...]
Advertising to Baby Boomers Can Be Tricky Business
We have all seen our fare share of reverse mortgage websites or commercials portraying seniors holding hands on a beach watching the sunset and I’ve always wondered if that is the best way to reach baby boomers.
AdWeek writer Mark Dolliver dives into the subject by going over survey data and speaking with industry leaders engaged [...]