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NRMLA Responds to the Horrible Reverse Mortgage Article by Consumer Reports

John Yedinak's Reverse Mortgage Daily Blog posted the National Reverse Mortgage Lender Association's (NRMLA) response to the deplorable article that Consumer Reports had in it this month about Reverse Mortgages. (I had posted the link to the article last week)

The response is long and detailed and deals with every inaccuracy and ommision. It is excellent and I hope someone at Consumer Reports has teh brains and guts to print a retraction or at least a response.

Here is the link:

http://reversemortgagedaily.com/2009/09/03/nrmla-questions-validity-of-consumer-reports-reverse-mortgage-investigation/

Posted by Michael Pinter on 09/04/2009 07:50 AM

Comments (2)

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2 Comments on NRMLA Responds to the Horrible Reverse Mortgage Article by Consumer Reports

SEP

I was wondering if you have seen a substantial drop in applications for Reverse Mortgages recently? I was doing 10-15 appraisals for this type of loan per month, until about 2 months ago. Now I am only doing 2-3 per month. Do you think this is a positive economic indicator or the market for this type of loan is just diminishing?

Martin,

I haven't heard of or seen any drop in demand for the product here. Where are you located and who was ordering the appraisals?

Michael Pinter

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