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

While the NRMLA Regional Meeting is underway in Atlanta, the economy is back on the front page of the news this week in Washington. It was announced yesterday that new home sales fell to an all-time low, sending reverberations through the housing and mortgage markets, as well as the economy as a whole. The drop [...]

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 on:

Who to [...]

“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. [...]

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. According [...]

The US Department of Housing and Urban Development is planning to give mortgage bankers additional time to adjust their net worth requirements to .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 a [...]

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 the effects [...]

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 is the [...]

Florida Senator Mike Fasano recently introduced Senate Bill 1532 to provide specific requirements for reverse mortgage loans.  According to the bill analysis, the provisions proposed would impact proprietary reverse mortgage programs not following the HECM provisions (e.g., disclosure and counseling). 
Fasano told Tampa Bay Online "My primary concern is that not one senior citizen be [...]

The Financial Crimes Enforcement Network (FinCEN), Secret Service, and HUD-OIG formed a partnership in December to help Florida law enforcement proactively identify and combat newly emerging fraud involving reverse mortgages said James H. Fries JR, Director of the FinCEN during a speech at the Florida International Bankers Association earlier this week.
“As many of you [...]