reverse mortgage new program: Finding Opportunity in a New Frontier - 10/12/13 01:42 AM
Finding Opportunity in a New Frontier
The reverse mortgage program changes, in a sense, wiped the slate clean. It created, not only a new, consolidated program, but changed the rules on how future transactions will be conducted. 
If anything, the new changes also created a new, unexplored frontier where reverse mortgage brokers, like myself, will have to find new opportunities and conquer new challenges.
As a "last resort," the program found success, helping many cash poor, house rich seniors live a more comfortable, fulfilling retirement. With the changes, however, the reverse mortgage industry will have to adapt as the program becomes a long-term … (3 comments)

reverse mortgage new program: The Reverse Mortgage Program is Going Back to Basics - 10/04/13 12:58 AM
The Reverse Mortgage Program is Going Back to Basics
I don't know when happened exactly. Maybe it was the Recession of 2007-2009. Maybe it was the Fonz advertising it as a "last resort." Maybe it was a cultural shift all together, I don't know.
The reverse mortgage program, however is going back to basics: helping retirees age in place or secure a line of credit for any emergencies that may arise in the future.
Jeffrey Taylor, president of Wendover Consulting, Inc. said in an article published in Reverse Mortgage Daily:
"The HECM of 2014 is going back to its roots. The original intent of the HECM program, … (8 comments)

reverse mortgage new program: Reverse Mortgage Changes Will Protect (and Hurt) Consumers - 09/02/13 02:44 AM
Reverse Mortgage Changes Will Protect (and Hurt) Consumers
The beginning of August was an important month for the Reverse Mortgage Program. President Obama signed the Reverse Mortgage Stabilization Act of 2013 in law and with it set into motion a chain of events that will potentially change the reverse mortgage program as we know it.
Most importantly, the Stabilization Act allows the Federal Housing Administration to make changes to the program without prior approval from Congress. In short, FHA has the power to adapt the program as they see fit, based on consumer experiences and need, on their own. I'm sure if … (0 comments)

reverse mortgage new program: The Reverse Mortgage Program (As We Know It) Is GONE! - 08/20/13 04:43 AM
The Reverse Mortgage Program (As We Know It) Is GONE...October 1st!
The Department of Housing and Urban Development, and reverse mortgage industry as a whole, has begun to slowly reveal what their plans are for the reverse mortgage program, following the Senate and Presidential approval of Reverse Mortgage Stabilization Act of 2013.
According to an article published in Reverse Mortgage Daily, "HUD to Combine Existing Reverse Mortgage Products," at a recent conference call for the National Reverse Mortgage Lenders Association, the HUD Deputy Assistant Secretary Charles Coulter, explained the proposed changes.
Proposed changes, aside from those initially sought to stabilize the … (3 comments)