UMBR

Umbrella Mortgage, Inc. Opens Its Doors to Assist Those Seeking ...
Business Wire (press release) - San Francisco,CA,USA
... full-service mortgage brokerage operation that concentrates on serving the needs of individuals over 62 years of age through reverse mortgage products offered ...

Reduction in fees in claifornia

Major Reduction in Fees for a Reverse Mortgage in California Saves ...
SBWire (press release) - Green Bay,WI,USA
Santa Ana, CA -- (SBWIRE) -- 11/29/2006 -- Orange County California-based Reverse Mortgage USA Specializes in FHA insured Reverse Mortgages and currently ...

Predatory Lending

Elderly woman falls victim to predatory lending
WKYC-TV - Cleveland,OH,USA
... "The best way," Schafer says, "if they're in this position that they're being foreclosed on -- [reverse mortgage] is the best option to make it go away. ...

Omni Home Correction

/ CORRECTION - Omni Home
Market Wire (press release) - USA
... "Yet the numbers tell the truth," he concedes, "just look at our loan volume growth over last year through viewable in the HECM activity report." Complete ...

Say yes To Surveys: REVERSE MORTGAGE EDUCATION CENTER

Greetings from the National Reverse Mortgage Education Center.  Over the next few weeks we will be making a number of improvements and changes to our website and the educational resources and services we offer so we may better serve your needs.

One change we are considering is to discontinue providing surveys.  Although we believe they can provide you with valuable insight into the industry, participation has been insufficient to make the results reliable.

We would like to hear back from you on whether we should continue providing surveys.  Also, we would appreciate knowing what subjects you would be interested in having surveyed.

Currently, we have two surveys available.  The results as of November 28, 2006 are as follows:

#1  On an average how many reverse mortgages do you close each month?

44 responses

48%   0 to 3
27%   4 to 6
5%     7 to 9
5%     10 to 12
16%   more than 12

Almost half of those who responded are closing 3 or less a month.  Seven participants close 12 or more a month.  Those are telling statistics.  Again, we would have liked more participation to ensure the results of this survey were accurate.

To participate in this survey visit:  http://www.nrmec.org/News.html

#2  How would you rate the level of competition for reverse mortgages in your local market?

47 responses

8%    Competition is extreme, I compete for every customer, severely impacting my production
26%   Growing competition, I compete for more than half of my customers, I am alarmed at the impact on my production
30%   Competition is present, I compete for less than half of my customers, it is having an impact on my production
28%   Some competition, I occasionally have to compete for a customer, very little, if any, impact on my production
8%    Competition is non-existent, I never compete for a customer, no impact on my production

This survey required the participant to include their state.  Unfortunately, there was not sufficient participation to break the results down by state and provide any significant results.

To participate in this survey visit:  http://www.nrmec.org/Survey.html

Please reply to this email and let us know if you would like for us to continue providing surveys on our website.  More importantly, if you haven't already, please participate in the current surveys.

If we receive sufficient interest, we will continue to provide new surveys.

Thank you.

Omni Home Reverse Mortgage

Omni Home, Inc. Is Home Sweet Home for Loan Officers
Market Wire (press release) - USA
SAN CLEMENTE, CA -- (MARKET WIRE) -- November 29, 2006 -- As one of the nation's fastest-growing reverse mortgage brokers specializing in financial products ...

Chicage Tribune

New options, spin on reverse mortgages
Chicago Tribune - United States
... reverse mortgages (or those less than $419,000) are insured by the Federal Housing Administration through the Home Equity Conversion Mortgage program, though ...

10 Things To Know About Reverse Mortgages

Top Ten Things To Know If You're Interested In A Reverse Mortgage
Best Syndication - Pinon Hills,CA,USA
... HUD's Reverse Mortgage is a federally-insured private loan, and it's a safe plan that can give older Americans greater financial security. ...

Ginnie Mae to Securitize Reverse Mortgages

Ginnie Mae to Securitize Reverse Mortgages ($)
BankNet 360 - New York,NY,USA
Ginnie Mae's decision to provide credit enhancement to reverse mortgage securitizations will likely jumpstart secondary market sales of the loans, helping to ...