Monthly Archives: January 2013

Reverse Mortgage News

Reverse Mortgages Pros Reverse Mortgage Counseling Faces New Challenges in Funding Change Changes outlined in a notice of funding availability released by the Department of Housing and Urban Development indicate that the process by which reverse mortgage counseling funds are

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Reverse Mortgage News

Reverse Mortgages Pros Illinois High Cost Law Gets Postponed, Prompts Reverse Mortgage Impact A delay in state legislation looks to create obstacles for Illinois brokers originating standard fixed rate reverse mortgages. Illinois Legislature has delayed the exemption of reverse mortgages

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Reverse Mortgage News

Reverse Mortgages Pros HUD to Implement New Funding Process for Reverse Mortgage Counseling Reverse mortgage counseling funds will no longer be allocated by the Department of Housing and Urban Development separately from the overall pool of housing counseling funding, HUD

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Reverse Mortgage News

Reverse Mortgages Pros Baby Boomers Remodeling to Age in Place Will be the Trend: Harvard Study With a national housing recovery under way, a distinct trend has emerged among baby boomers in the wake of the housing crisis: remodeling to

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Reverse Mortgage News

Reverse Mortgages Pros CFPB Issues Mortgage Compensation Rule to Prevent Steering The Consumer Financial Protection Bureau (CFPB) announced Friday a final rule that addresses compensation paid to loan originators and mortgage brokers. The rules prohibit steering incentives, dual compensation and

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Reverse Mortgage News

Reverse Mortgages Pros Friday Round-Up: FHA Changes Coming this Month, Lender Activity on Hold In case you missed it…here’s what happened in reverse mortgage news this week: FHA program changes expected to arrive this month. A HUD representative tells RMD

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Reverse Mortgage News

Reverse Mortgages Pros FHA Reverse Mortgage Changes Coming By Month’s End The Federal Housing Administration (FHA) will announce anticipated changes to its Home Equity Conversion Mortgage (HECM) program in a mortgagee letter slated for release by end of the month,

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Reverse Mortgage News

Reverse Mortgages Pros The Year Ahead for Reverse Mortgages: 2013 Within the next 30 days, the reverse mortgage industry will likely have lost its most popular product. The Department of Housing and Urban Development promised Congress in December that the

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Reverse Mortgage News

Reverse Mortgages Pros Mortgage Lenders: Qualified Mortgage Rule Could Hinder Housing Recovery The Consumer Financial Protection Bureau’s (CFPB) definition of a “qualified mortgage” under its Ability-to-Repay rule has warranted praise among the mortgage industry in response, however, mortgage lenders and

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Reverse Mortgage News

Reverse Mortgages Pros Reverse Mortgage Originators Gear Up for FHA Product Change Reverse mortgage originators are preparing for product change in the market that promises to turn the product mix selected by borrowers on its head. As for reeducating those

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