Reverse Mortgage Finance

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Mortgage and Lending - Atlantic Coast Mortgage, LLC NMLS ID # 643114 ( - NMLS ID # 139177
Learn the ins and outs of reverse mortgage financing from a seasoned expert with thousands of closed transactions.
FHA rescinded on Friday after an initial implementation delay the rule making it difficult for anyone with credit disputes in excess of $1,000 to secure financing.  The rule has been completely revoked according to mortgagee letter 2012-10 dated June 15, 2012.   You can access the mortgagee lette...
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 li...
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 natio...
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.   ...
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 he...

Neil Sweren

HECM Reverse Purchase Specialist
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