reverse mortgage: MetLife Exiting Reverse Mortgage Business
- 04/26/12 05:19 AM
Wall Street Journal Reports: MetLife Exiting Reverse Mortgage Business By MIA LAMAR / Wall Street Journal MetLife Inc. said Thursday it is selling its reverse mortgage business, its latest move to avoid increased regulatory scrutiny and stay focused on its core operations. The U.S.'s largest life insurer in March failed "stress tests" by the Federal Reserve that were aimed at gauging the capital adequacy of 19 of the biggest U.S. financial firms under a severe economic worsening. MetLife, which has been a bank holding company since it pushed into banking in 2001 to offer retail savings and other products to its clients, was the … (0 comments)
reverse mortgage: Study reveals segment with tremendous equity reserves
- 04/19/12 10:26 AM
Senior Home Equity Increases in 4Q Data released by NRMLA shows senior home equity increased by $30 billion in the fourth quarter of 2011. Seniors have $3.22 trillion in home equity available, according to the most recent NRMLA/Risk Span Reverse Mortgage Market Index (RMMI) report.
“Our nation’s demographic and economic trends suggest that the reverse mortgage market will continue to grow. This data further validates that reverse mortgages are a fundamental tool to help fund longevity at a time when many Americans might face limited options,” says Peter Bell, President and CEO of NRMLA.
The NRMLA/RiskSpan Reverse Mortgage Market Index … (0 comments)
reverse mortgage: Today show segment on Pros and Cons of Reverse Mortgages
- 04/13/12 02:13 AM
Today Show crash course on Reverse Mortgages. Brief segment but some good information. Borrowers must be 62 or older to qualify and the loan must be secured by a primary residence. There is no limit to what funds can be used for including purchase of investment property and/or second homes.
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reverse mortgage: Reverse Purchase? I never heard of such a thing!
- 04/10/12 12:29 PM
Last week a Senior buyer I had pre-qualified for a new home purchase was out looking in a new home development. When he explained to the site agent at the 55+ FHA approved community that he was going to finance the new house with an FHA insured (HECM) Reverse for Purchase she replied "I never heard of such a thing." She went on to tell him that they didn't offer that program and that he would need to be qualified by her loan officer for a regular loan. A few minutes later at the buyers insistence, she called me and I … (6 comments)
Wall Street Journal Reports: MetLife Exiting Reverse Mortgage Business By MIA LAMAR / Wall Street Journal MetLife Inc. said Thursday it is selling its reverse mortgage business, its latest move to avoid increased regulatory scrutiny and stay focused on its core operations.
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