Recent data indicated that fewer younger borrowers are opting for reverse mortgages, but this age shift has not been noticeable for many originators nationwide. A recent report from Baseline Reverse looked at loans funded in January and pooled in February ? which consisted of both Home Equity Conversion Mortgages originated under the new, lower principal […]
The Department of Housing and Urban Development?s decision to cut principal limit factors for reverse mortgage originators has significantly changed the competitive landscape, multiple industry professionals told RMD. Although not all the competition is over rates, they are one of the biggest factors brokers consider as they balance business costs and value to the customer. […]
Since the Federal Housing Administration still has no confirmed commissioner ?and the industry is still sorting out the effects of the last major set of rule changes ?RMD decided to ask reverse mortgage professionals what they?d do with the keys to the FHA for the day. For Ed O?Connor, the marketing manager for the HECM […]
When potential borrowers want to learn more about reverse mortgage products, many professionals look to their in-house resources, like company websites, to begin the education process. For Beth Paterson, executive vice president at Reverse Mortgages SIDAC in St. Paul, Minn., her website?s articles are a primary ?education piece.? ?Our website is designed as educational, not […]
