Here are current articles with links to their source on the subject of Reverse Mortgages. You can sign-up and receive a free daily update right to your email box. It's called “Reverse Mortgage Daily News.”

Reverse Mortgages continue to be in the news...

Reverse Mortgage Companies See Opportunity in Wholesale

May 21, 2009 03:13 pm | admin

When JB Nutter announced it was suspending new submissions for its wholesale business, brokers scrambled to get files closed with other lenders and it lead to slower turn times across the industry.  While things seem to be back to normal at Nutter, its “hiccup” at the beginning of the year was a great opportunity for...

More Reverse Mortgage Lenders Hiring

May 21, 2009 12:20 pm | admin

Below are just a few of the new jobs recently posted to Reverse Mortgage Jobs Online. Reverse Mortgage Loan Originator (Nashville) New Castle Mortgage Reverse Mortgage Careers (Multiple) Equitable Reverse Mortgage Company Reverse Mortgage Originator (Eatontown) Eagle Nationwide Mortgage Company Reverse Mortgage Specialist (Coral Springs) Senior Finance Network Reverse Mortgage Specialist (Various) Genworth Financial It only costs you $1...

Industry Veteran Calls Out HUD On Reverse Mortgage Recourse Policy

May 20, 2009 02:21 pm | admin

Atare Agbamu has been very vocal about the way HUD updated its non-recourse policy with Mortgagee Letter 2008-38 and he follows it up with An Assault on Fairness: Quash Mortgagee Letter 2008-38, part 1. After asking HUD to revoke Mortgagee Letter 2008-38, Agbamu received emails from senior policy employees at HUD and below is a...

Building on Increases in Reverse Mortgage Lending

May 19, 2009 02:47 pm | Neil

A recent 17 percent year-over-year increase in reverse mortgage lending has brightened the mood among industry professionals who are exhorting colleagues now to step up their game further. The FHA insured 11,261 HECMs in March - that’s 17 percent higher than the same month last year.  Spurred on by the American Recovery and Reinvestment Act...

Reverse Mortgages: Bringing Hope To The Mortgage Industry

May 19, 2009 01:04 pm | admin

Mortgage Orb journalist Phil Hall writes that while many sectors have either crashed or are struggling to stay active, one mortgage product is showing no signs of slowing down: reverse mortgages. In The Hope From Reverse Mortgages, Hall covers how the relatively unknown product has such big potential in the marketplace. "We’re developing more...

Laid Off Worker Using Reverse Mortgage To Save His Home

May 18, 2009 10:44 am | admin

The Start Telegram published an article about how one senior is using a reverse mortgage to save his home after being laid off from his job as a salesman in the check printing industry for 34 years. "The last thing I wanted to do was lose my home," he said. "And I didn’t want...

Generation Sees Growth, Plans To Expand Retail Reverse Mortgage Business

May 15, 2009 01:49 pm | admin

Just weeks after becoming the sixth largest reverse mortgage lender in America, Generation Mortgage plans to hire high-producing reverse mortgage professionals from across the country said a company statement. “Despite the economic downturn, Generation Mortgage has experienced dramatic growth during the first quarter of 2009. We’re seeking successful, experienced producers with proven results to...

Ginne Mae Issuance of Reverse Mortgage Securities Holds Steady

May 14, 2009 11:24 am | admin

The Government National Mortgage Association (Ginnie Mae) announced earlier this week that it issued $34.5 billion in total mortgage-backed securities (MBS) in April. For the first four months of calendar year 2009, Ginnie Mae provided $124.18 billion of liquidity to the secondary market, compared to $58 billion for the first four months of 2008. "We...

A Lack of Demand For Reverse Mortgages? Some Think So

May 11, 2009 02:54 pm | Neil

Familiar with the doubt and misunderstanding about reverse mortgages that emanates from outside, industry insiders may be surprised at the discord fomenting within their own ranks toward the product. One major trade association executive dismisses them almost entirely. “There is not a demand for it,” asserts Kevin Cuff, executive director, Massachusetts Mortgage Bankers Association...

Obama Administration Requests $798 Million To Aid Reverse Mortgage Program

May 07, 2009 03:03 pm | admin

The Obama administration is asking taxpayers to subsidize the Federal Housing Administration’s program for reverse mortgages for the first time. The administration has requested that Congress appropriate $798 million for the Home Equity Conversion Mortgage (HECM), according to budget documents released today. According to the budget documents: The decline in house prices has adversely affected the projected...

FNMA’s Reverse Mortgage Pricing Changes Worry Industry

May 05, 2009 12:59 pm | admin

Last week the Fort Mill Times published a great article detailing how the changes in Fannie Mae’s pricing is causing problems in the industry. In Changes in reverse mortgages worry industry, Adrian Sainz writes that industry veterans are concerned that the change to “live pricing” can confuse seniors and cause them to question whether...

Top HECM Lenders Through April 2009

May 04, 2009 05:29 pm | admin

Below is a list of the top HECM lenders through April 2009. Be sure to check out the commentary and link below which goes into more detail. We had another record month in endorsement volume in April, coming in at 11,660 units, up 3.5% from March We continue to see the trend of large lenders taking...

The Reverse Mortgage Minefield

May 04, 2009 12:21 pm | Neil

Woe looms over the reverse mortgage sector as several states look to crack down just as Fannie Mae has raised its insurance fees and tougher counseling mandates are afoot. “A lot of [reverse] originators feel there is an overall attempt to diminish [this] program,” laments one seasoned observer. On the legislative side, sentiment grows among lawmakers...

NY Times Says Allure Broadens For Reverse Mortgages

May 04, 2009 12:15 pm | admin

Over the weekend, New York Times journalist Elsa Brenner writes that retirees are turning to reverse mortgage to meet their expenses and in places where property taxes are high, these loans have become more popular. Stephen Lamoreaux, a reverse-mortgage specialist in Stamford, Conn., who serves clients in New York and Connecticut for Wells Fargo...

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Tom Domin is the author of "101 Ways to Originate Mortgages" and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com/

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