Reverse Mortgage Information
Free reverse home loan mortgages info for seniors which include lenders and calculator

The reverse mortgage industry continues to see Ginnie Mae play a more important role, issuing .5 billion of reverse mortgage MBS (HMBS) in August. 
In order for growth to continue, there needs to be buyers and an article from the Wall Street Journal details how banks are buying up GNMA backed securities at a [...]

The average HECM borrower will see the same initial benefits as last week.  Rates have gone down materially in the last couple of days, so we may see an increase in Principal Limits next week
The rates as of 9/29/09 are:

reverse mortgage Rate Updates are brought to you by Jerry Wagner & Ibis reverse mortgage Software [...]

The Office of the Comptroller of the Currency (OCC) issued a consumer advisory alert last week, to help consumers better understand reverse mortgages. 
The information developed for consumers discusses basic facts about reverse mortgages, which are complex, home secured loans said the statement.  The advisory, reverse mortgages: Are They for You also reviews the [...]

Northern California based Bay Docs announced the launch of a web-based origination tool for reverse mortgage lenders and brokers.
The new application allows brokers and lenders to order reverse mortgage application and closing documents which include the required statutory forms along with calculation forms: instant quote comparison, print screen, amortization schedule, TALC and the [...]

One reverse mortgage has a new CEO leading the company after its original founder Sean Marsh left the company.  We just caught wind of this news, but Jay Farner was named as CEO on July 1st.
Quicken purchased One reverse mortgage in 2008 for an undisclosed sum and quickly became one of the largest reverse [...]

Genworth Financial Home Equity Access, Inc., a subsidiary of Genworth Financial, Inc., announced the release of a competitive fixed rate reverse mortgage product to both its retail and wholesale broker clients.  The fixed rate product features an interest rate of 5.625% said a company statement.
“There’s never been a better time to get a reverse [...]

Premier Reverse Closings (PRC), divisions of National Closing Solutions and Placer Title, announced that Adrian Prieto is joining the company as vice president, eastern region senior account manager, and will be focusing on growing business on the east coast.
Prieto brings 13 years of financial industry experience with the last five being in the reverse [...]

The Mortgage Bankers Association (MBA) released a copy of its model legislation for reverse mortgages earlier this month at its conference in San Diego, CA.  According to the MBA, it’s meant to define a national standard of consumer protections for reverse mortgage products.
The MBA believes that if reverse mortgages uniformly incorporate the principles in [...]

First Mariner Bancorp, the parent company of First Mariner bank disclosed in a SEC filing on Monday that it had entered into an agreement with banking regulators requiring it to boost capital levels, improve earnings and reduce problem loans. 
In a statement issued Monday, First Mariner said its management and board of directors had [...]