Mon, Oct 4 2010, 1:19 PM
A Reverse Mortgage is similar to a conventional mortgage because it is a lien against the property and the title remains in the name of the borrower. ...
Wed, Sep 15 2010, 2:16 PM
My sister-in-law said the problem was that I was thinking like a borrower instead of a lender. I told her I would stop thinking like a borrower if th...
Mon, Sep 13 2010, 2:39 PM
While the HECM reverse mortgage industry is banking on the HECM saver, a reverse mortgage program with lower costs and less benefits, some wonder whet...
Thu, Jul 29 2010, 12:06 PM
I recently spoke on two interesting panels at the American Conference Institute’s two day symposium on Reverse Mortgages. The conference attracted a ...
Mon, Jun 28 2010, 1:01 PM
The issue that has caused the biggest problem for reverse mortgage lenders: when borrowers don't pay their the property taxes and hazard insurance. ...
Thu, May 27 2010, 3:56 PM
As with a conventional mortgage, there are costs associated with a reverse mortgage. While perceived as high, once understood you’ll see the reverse ...
Thu, May 20 2010, 3:34 PM
USDA Section 502 Single Family Housing Guaranteed Loans are primarily used to help low-income individuals or households purchase homes in rural areas....
Thu, May 13 2010, 3:08 PM
This week USDA announced that lenders could continue to fund loans despite a budget shortfall that had threatened to put an early end to 2010 USDA loa...
Tue, May 4 2010, 3:14 PM
We are dumping millions of dollars to support people who are in trouble on their mortgages, in many cases these are people who over stretched to begin...
Wed, Apr 21 2010, 3:37 PM
Jonathan Spurr, a like-minded colleague of mine and a wholesale account rep for 18 years came up with this idea which we just pitched to the Arizona D...
Mon, Apr 19 2010, 12:32 PM
Recently lenders have been offering an option of ‘no origination fee’ on the HECM fixed rate reverse mortgage program. This sounds good on the surfac...
Thu, Apr 8 2010, 4:09 PM
It is a common belief that one must have a lot of equity in their home to qualify for a reverse mortgage. In reality, a reverse mortgage can be done i...
Mon, Apr 5 2010, 1:05 PM
The reverse mortgage industry started out as a fulfiller of dreams to the greatest generation. For its first 17 years of existence, regulators outside...
Mon, Mar 29 2010, 3:20 PM
Most people have preconceived notions about reverse mortgage. Why are so many folks afraid to hear the facts from an expert?
Tue, Mar 16 2010, 3:47 PM
I have probably drafted around 15 different articles for a Community Commentary since the beginning of the year, but chose not to post them because fo...
Mon, Mar 8 2010, 11:59 AM
The arrangement works like this, the bank collects a fee for the appraisal from the borrower; orders an appraisal from the appraisal management compan...
Fri, Jan 29 2010, 4:05 PM
Consumer complaints about debt-assistance companies have spawned tougher new laws designed to crack down on scam artists. In many states, these new la...
Fri, Jan 22 2010, 12:50 PM
The foreclosure timeline can take anywhere from 6 months to 1 year depending on the bank and the county. A few steps must take place throughout the f...
Fri, Jan 22 2010, 1:04 PM
Our analysis shows that there are still a substantial number of mortgages at risk of distress or foreclosure. One particularly troubling area concern...
Fri, Jan 8 2010, 1:47 PM
The U.S. Department of Housing and Urban Development (HUD) endorsed its first HECM loan in 1989 and has endorsed over 525,000 loans since, with about ...
Thu, Jan 7 2010, 12:44 PM
Homeownership is more than down payment, interest rates, tax deductions, yearly appreciation, deferment of capital gains, asymmetrical liquidity and d...
Thu, Jan 7 2010, 3:07 PM
While you cannot stop a foreclosure with talking alone, the lender will see that you are putting effort into saving your home and paying your loans. L...
Tue, Jan 5 2010, 5:34 PM
It was remarkable to read the headline: Fed Economist: Housing Is a Lousy Investment, especially when it was written by Federal Reserve economist at a...
Fri, Nov 20 2009, 5:12 PM
Transparency is the new buzz word in the financial world, especially in the mortgage industry. While government officials and financial pundits pay "...
Fri, Nov 13 2009, 4:48 PM
"Social media marketing is here to stay" could very well be chalked up as the understatement of the year. Social media marketing has been on the rise ...
Wed, Oct 28 2009, 2:56 PM
Most search engines provide two different unpaid areas where your business can appear: local business listings and web page results. Having a searc...
Fri, Oct 23 2009, 4:58 PM
Roughly 70% of Americans own a home. Eighty percent of wealth in America is created through real estate (i.e. home ownership). Clearly home ownershi...
Thu, Oct 15 2009, 3:57 PM
Local is one of the top three areas of online marketing that my clients ask me about, along with search engine optimization and social media marketing...
Fri, Oct 9 2009, 7:13 PM
As you can imagine – a lot of people ask me how I got my site to #1 on Google for a term like ‘mortgage brokers’ not to mention thousands of other hig...
Tue, Sep 15 2009, 12:53 PM
One simple step everyone can take to make their email efforts more compatible with their social media efforts is to link all of your emails to your so...
Mon, Sep 14 2009, 10:26 AM
Most appraisers have an independent spirit and the idea of an appraiser union is not very appealing to them. I suppose that the same applies to Mortga...
Mon, Sep 14 2009, 2:40 PM
Free markets function fine...when all parties understand their risks. Changes need to be made to the GSE's but not in a way that contracts, rather th...
Wed, Sep 9 2009, 2:45 PM
The question is one of trust. For nine months our trade group has been lobbying Congress and the GSE's to use such a work force but the question is al...
Fri, Aug 28 2009, 1:49 PM
Instead of asking if we are stealing from future demand, maybe the better question is will there be any future demand? If you agree with ex-FHFA regul...
Tue, Aug 25 2009, 4:49 PM
Solid real estate agent relationships are the cornerstone of any professional loan originator's business plan. While the mortgage industry has done a...
Fri, Aug 7 2009, 3:12 PM
I use transparency as a weapon against the banks. I walk into a bank branch and snap a picture of their mortgage rates, on the lobby sign. I e-mail ...
Fri, Jul 31 2009, 6:36 PM
A combination of better and simpler disclosures from lenders, combined with the assurance of complete and accurate information from borrowers, would g...
Thu, Jul 30 2009, 2:49 PM
In the past year most of us have listened to, or expressed our views, on the need for the mortgage industry to make changes. Why has so much collecti...
Wed, Jul 29 2009, 1:31 PM
I posed Jeff's question to the National Association of Mortgage Brokers and they responded with an invitation to the national membership committee. O...
Mon, Jul 27 2009, 2:28 PM
Despite being several months into what equates to the de-construction and re-building of the mortgage industry...there seems to be a distinct lack of ...
Thu, Jul 9 2009, 12:23 PM
How powerful would it be if, as a mortgage professional, you could tell when someone looking to refinance their home was unsatisfied with their curren...
Mon, Jun 29 2009, 4:12 PM
Mon, Jun 1 2009, 4:10 PM
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