The new SAFE ACT laws went into effect on July 1st 2010 in the state of Arizona and if you are in a position to talk to a consumer about loan products, interest rates and fees or negotiating financing on residential real estate transactions, you are required to be licensed by the state as a Loan
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07/23/2010
Reverse mortgages are a good idea for some but for others who have more of a "want" than a "need" to do a reverse mortgage, the costs have always been the culprit that have kept them from doing the loan. Until now, that is, because the costs are being whittled down, left and right, by every lende
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05/08/2010
The Senior Lending network announced today that they will be ready to start accepting applications for HECM for home purchase in March. Some additional details of the program will include:The HECM For Home Purchase program mimics an FHA purchase with the following nuances:• No seller concessions
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02/23/2009
Image via Wikipedia I have been recently challenged by some readers (originators) who feel they should not have to discount fees on reverse mortgages. They have questioned my knowledge of the program, accused me of non compliance and have been downright offended at my desire to give my customers
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01/29/2009
LendingTree is offering Reverse Mortgage advice and contact to Reverse Mortgage Lenders. Keith Moore, Senior Vice President of Emerging Businesses for LendingTree.com said, "One of the defining characteristics of LendingTree is our dedication to helping consumers. With baby boomers nearing and en
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01/27/2009
In order to prepare for a Reverse Mortgage, you should understand that there are a few important factors involved in the equation used to determine the amount of money you will end up with. This could be particularly important if you need every dime, like most of us do these days, or if you are t
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01/26/2009
According to the National Reverse Mortgage Lenders Association (NRMLA) there is a new Bill containing a provision to raise the HECM (Reverse Mortgage) limit through the end of 2009 to $625,500 which has been introduced in the House of Representatives. The current nationwide limit is $417,000 with
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01/24/2009
All FNMA and Freddie Mac loans will be required to comply with the Home Valuation Code of Conduct (HVCC) effective May 1, 2009. The HVCC is anticipated to become an industry standard. For the full story or to view the HVCC in PDF format please visit www.reversemortgageconcepts.com. Michael Manf
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01/21/2009
James A. Heist, assistant inspector general for HUD, testified before the Committee on Financial Services about concerns throughout the FHA program as the volume of insured single-family mortgages tripled from $59 billion in fiscal year 2007 to more than $180 billion in fiscal year 2008, which en
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01/16/2009
From our partners at Ameridream: January 12, 2009 We have been informed that a bill to reinstate reformed downpayment assistance will be introduced as early as tomorrow. The bill is expected to be introduced by Congressman Al Green (TX) with bipartisan support. The bill will have the same languag
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01/14/2009
