RMNC NEWS FEED! Reverse Mortgage News.

VA

2007-07-06T18:06:00.001-07:00

VA Reverse Mortgage Bill Meets Opposition
BankNet 360 - New York,NY,USA
... House Veterans' Affairs Committee -- would allow the Veterans Affairs Department to provide a home equity conversion mortgage, or HECM, to US veterans. .

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may 29 2007 reverse mortgage news

2007-05-29T07:57:00.001-07:00

Reverse mortgages, making your retirement years more enjoyable
LubbockOnline.com - Lubbock,TX,USA
A reverse mortgage may be the answer to your financial needs. A reverse mortgage enables senior homeowners, 62 years and older, to convert a part of the ...

Countrywide Latches Onto Trend of Reverse Mortgages
San Fernando Valley Business Journal Online (subscription) - Woodland Hills,CA,USA
Countrywide Financial Corp. became the latest major mortgage lender to enter the arena when it rolled out its reverse mortgage product, SimpleEquity, ...

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tHINK TWICW

2007-05-07T15:21:00.000-07:00

Think twice before prepaying mortgage
Upstate House - NY,USA
Because you are only 63, with a long life expectancy, you won't qualify for much monthly lifetime reverse-mortgage income. I wish I could be more positive, ...

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stay afloat

2007-05-02T07:25:00.001-07:00

Stay afloat financially after 55
CNNMoney.com - USA
If you own a home that you're worried you can no longer afford, you may want to consider a reverse mortgage. In a "regular" mortgage, you make monthly ...

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refinance

2007-04-14T01:29:00.001-07:00

Refinancing A Reverse Mortgage
Best Syndication - Pinon Hills,CA,USA
The reverse mortgage is primarily a resource for our senior population, and it has become a widely used financial instrument. A reverse mortgage is a loan ...

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jumbo loans

2007-04-02T19:25:00.000-07:00

Seattle Mortgage Offers New Jumbo Reverse Loan to West Coast
Business Wire (press release) - San Francisco,CA,USA
Seattle Mortgage, a leader in the reverse mortgage industry, today announces the release of The Independence Plan SM proprietary jumbo reverse mortgage to ...

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FIXED RATES

2007-03-19T09:55:00.001-07:00

Fixed rates return to reverse mortgages
Upstate House - NY,USA
"By lowering the margin, we are lowering the interest rate charged on a reverse mortgage. This means more seniors will be able to use the reverse-mortgage ...

Financial Coach: Reverse Mortgages Offer Seniors Relief from High ...
PR Newswire (press release) - New York,NY,USA
"During the bankruptcy proceedings, the couple could have kept their home if they utilized the option of a government guaranteed reverse mortgage," Kroskey ...

Equity lenders prepare to take on reverse mortgages
The Financial Standard - Sydney,NSW,Australia
Shared equity lenders are preparing for a turf war with reverse mortgage lenders for the retiree equity release market. The first non-government shared ...

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HECM ADVANTAGE

2007-03-19T09:53:00.001-07:00

Financial Freedom drops reverse mortgage costs and enhances ...
LubbockOnline.com - Lubbock,TX,USA
Financial Freedom, a subsidiary of IndyMac Bank FSB, and the nation's largest provider of reverse mortgages, announces the launch of HECM Advantage, ...

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100 margin RM

2007-02-16T08:52:00.001-08:00

Live Well Financial, Inc. Offers 100 Margin HECM Reverse Mortgage ...
Eworldwire (press release) - Succasunna,NJ,USA
"Live Well Financial is proud to be able to offer the new HECM 100 Monthly product to our senior customers. This HECM product offers more proceeds at a ..

Margin loan

2007-02-16T08:49:00.001-08:00

Seattle Mortgage Offers Reduced Margin Loan Options
Business Wire (press release) - San Francisco,CA,USA
For instance, a 72 year old couple with a home valued at $325000 would be eligible for an additional $14000 in available funds using the reduced margin HECM ...

Feb 12th

2007-02-13T13:57:00.000-08:00

The worse the loan, the easier to entice
Town Hall - Washington,DC,USA
Alternative to a reverse mortgage and generally cheaper. 4. Owning a spec house that hasn't sold and needing a lower payment. ...

Specialized, not predatory loans available for seniors
Howard University The District Chronicles (subscription) - Washington,DC,USA
It is a Federal Housing Administration (FHA) reverse mortgage. It was designed specifically to enable senior citizens to access the equity that has built up ...

Understanding reverse mortgages
9NEWS.com - Denver,CO,USA
Now, with a reverse mortgage, it can also be a source of money. A reverse mortgage can meet financial needs and insure that you can stay in your home as ...

Reversesoft

2007-02-13T13:56:00.001-08:00

XL Dynamics Releases ReverseSoft
Xtvworld (press release) - India
... solution that will help us scale up our product offerings on Reverse Mortgage Loans, such as the Home Equity Conversion Mortgage (HECM) and Home Keeper. ...

RM TO MAKE FIXES ON HOUSE

2007-02-13T13:55:00.000-08:00

IRAs and turning magic age of 71½
Cincinnati Post - OH,USA
She is also considering obtaining a reverse mortgage, which would still require her to make fixes, and they would hold money in escrow until the work is ...

RM with margin

2007-02-13T13:54:00.001-08:00

Wells Fargo to Offer a Reverse Mortgage Product With a Margin ...
Earthtimes.org - USA
The HECM reverse mortgage is the most popular reverse mortgage in America today. Through the program, the US Department of Housing and Urban Development ...

Soaring RM

2007-02-13T13:52:00.001-08:00

Reverse mortgage market could soar
HeraldNet - Everett,WA,USA
A reverse mortgage is a loan against a home that is not payable until the homeowner dies, sells the home, or permanently moves out of the home. ...

money Stress

2007-02-13T13:51:00.001-08:00

Reverse mortgage may end money stress
Oshkosh Northwestern - Oshkosh,WI,USA
So Darlene Branson, 78, turned to her home equity to help supplement her monthly Social Security payments by taking out a reverse mortgage. ...

Reverse Mortgage News

2007-02-03T10:47:00.001-08:00

SAVE THE DATE: Credit Union schedules seminar
Cherry Hill Courier Post - Cherry Hill,NJ,USA
South Jersey Federal Credit Union has scheduled a free reverse mortgage seminar from 9 to 10:30 am, Feb. 10, at its Deptford branch, 1615 Hurffville Road. ...

Reverse mortgages turn home equity into income
San Diego Daily Transcript (subscription) - San Diego,CA,USA
(NYSE: CFC) says it expects to launch a new reverse mortgage in 2007. The competition from both is expected to put further downward pressure on costs. ...

Wells Fargo Reverse Mortgage Workshops
Arcadia Weekly - Arcadia,CA,USA
... our money," "How can I pay for the services necessary to remain in my home," "What financial alternatives exist other than obtaining a reverse mortgage? ...

Reverse Option: Not Just a Super Bowl Play
Jewish Exponent - Philadelphia,PA,USA
A reverse mortgage is a loan that enables senior homeowners to convert part of their home equity into potentially tax-free income without having to sell ...

Hecm 100

2007-02-03T10:45:00.001-08:00

New Reverse Mortgage introduced by Harbor Mortgage Solutions has ...
ClickPress (press release) - UK
[ClickPress, Fri Feb 02 2007] Harbor Mortgage Solutions, Inc. of Braintree, MA has announced the availability of a new reverse mortgage program, ...

Reverse Mortgage News

2007-01-31T23:35:00.001-08:00

The Mother of All Bubbles
CounterPunch - Petrolia,CA,USA
The downside of the Fed's decision is that the 30 year mortgage rate is inching higher (6.33%) and is bound to put even more downward-pressure on new home ...

Allied Home Mortgage Capital Corporation Opens New Branch Office ...
Primenewswire (press release) - Los Angeles,CA,USA
Stephen has served as Vice President of the Point Place Business Association, is certified as a reverse mortgage and "Home Ownership Accelerator" specialist ...

Dave Ramsey, Money Answer Man
CBS News - New York City,NY,USA
But I strongly advise against a reverse mortgage, because you won't be leaving your kids a house, you'll essentially be leaving them a mortgage. ...

Reverse mortgage program set for seniors
DesMoinesRegister.com - Des Moines,IA,USA
Michael Blair, a reverse mortgage consultant, will answer questions from seniors who may be considering using a reverse mortgage to help pay for medical ...

JUMBO RM

2007-01-30T00:05:00.001-08:00

Pumping Up Your Reverse Mortgage
BusinessWeek - USA
Ingram was able to hold on to the house by taking out a jumbo reverse mortgage on the property--"jumbo" because the amount was $388000, and conventional

HECM

2007-01-30T00:04:00.001-08:00

Improve your fortunes
Business Standard - India
Home Equity Conversion Mortgage (HECM) is one of the leading reverse mortgage provider in the US. There are five modes of payment in the US. ...

Reverse Mortgage News

2007-01-25T11:08:00.001-08:00

Reverse Mortgage an Investment Tool for Homeowners
Greater Tulsa Reporter Newspapers - Tulsa,OK,USA
This year they will be coming out with their own plan and I hope the visibility of that plan will help us increase the awareness of our reverse mortgage ...

Sentinel doubles reverse mortgage loan book
Stuff.co.nz - Wellington,New Zealand
Reverse mortgage company Sentinel doubled its loan book in 2006 to $176 million, and expects a further significant increase this year as retirees seek funds ...

More House News

2007-01-22T10:18:00.001-08:00

House votes to lift reverse mortgage cap for FHA
Reuters - USA
Under a reverse annuity mortgage, a lender buys back a senior citizen's home with regular payments before actually acquiring the property. ...

RM NEWS

2007-01-22T10:16:00.001-08:00

New Reverse Mortgage Products to Hit Market Soon
ElderLawAnswers.com - Boston,MA,USA
A reverse mortgage is exactly what it sounds like—instead of paying the bank money to build up equity, you use the equity in your home to take out a loan. ...

MEETING YOUR FINANCIAL PLANNING NEEDS: Two affiliated firms at ...
The Patriot Ledger - Quincy,MA,USA
They envisioned adding a reverse mortgage division and opening an affiliated company under Dougherty's direction to assist clients with investments and ...

Beware

2007-01-22T10:14:00.001-08:00

Consumer Beware: Some Reverse Mortgage Info Is Misleading
Accountingweb.com - Indianapolis,IN,USA
AccountingWEB.com - January 17, 2007 - In the last few years, reverse mortgages, also called Home Equity Conversion Mortgages, have gained in popularity and ...

Reverse Mortage News Jan 16th

2007-01-16T09:00:00.001-08:00

Local Players: Jan. 15
Allentown Morning Call - Allentown,PA,USA
of Amity Township has joined M&T Bank as a reverse mortgage specialist covering Berks, Montgomery, Lebanon, Lehigh and Schuylkill counties. ...

Written-off loan still must be paid
Reading Eagle - Reading,PA,USA
At 89 and 81, your in-laws certainly would be fine candidates for a reverse mortgage. They simply are borrowing against the equity in their home, ...

Aging In-Laws

2007-01-15T10:30:00.001-08:00

Reverse mortgage for aging in-laws seems like a terrific idea
commercialappeal.com (subscription) - Memphis,TN,USA
I am trying to get them to take a reverse mortgage and enjoy their remaining years. My wife and I don't want their money; we want them to enjoy it. ...

HECM 100 News

2007-01-15T10:28:00.000-08:00

BNY Mortgage Company Brings More Choice to Reverse Mortgages with ...
Earthtimes.org - USA
11 -- BNY Mortgage Company (BNYMC) is changing the face of the reverse mortgage industry with the introduction of HECM 100(TM), the first in what BNYMC sees ...

Sección internacional
Bolsamania.com - Madrid,Madrid,Spain
... Global Expansion is One of the Broadest Since 1970s ... [+]. (PRN) - BNY Mortgage Company Brings More Choice to Reverse Mortgages with New HECM Loan ... [+]

Reverse Mortgages – A Tax Free Income For Senior Citizens
Best Syndication - Pinon Hills,CA,USA
The second type of reverse mortgage is called a Home Equity Conversion Mortgage (HECM). The federal government insures these mortgages and they are backed ...

Reverse News Jan 13th 2007

2007-01-14T09:08:00.001-08:00

Reverse that payment
Daytona Beach News-Journal - Daytona,FL,USA
Instead of celebrating their senior years with a mortgage burning, they're signing papers to take on a new type of loan called a reverse mortgage. ...
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Smart Retirement Shopping
Wall Street Journal (subscription) - New York,NY,USA
The Pros: For seniors with pressing financial needs who are cash-poor but house-rich, a reverse mortgage "can be a beneficial way to get the basic income ...

Reverse News

2007-01-14T09:07:00.001-08:00

Mortgage benefits, concerns
AZ Central.com - AZ,USA
A: Because a reverse mortgage is recorded like a first mortgage, there can be no other financing secured by the residence. However, if you have a small ...

Seniors look for a mortgage that delivers peace of mind
AZ Central.com - AZ,USA
So Darlene Branson turned to her home equity to help supplement her monthly Social Security payments by taking out a reverse mortgage. A reverse mortgage is ...

Tax Break or Reverse Mortgage

2007-01-12T17:02:00.002-08:00

Do I qualify for $250000 home-sale tax break?
Upstate House - NY,USA
Then it qualifies for an Internal Revenue Code 1031 tax-deferred exchange for another rental or business property of equal or greater cost and equity. ...

Liquidity

2007-01-12T17:02:00.001-08:00

Reverse mortgage provides seniors with liquidity
Kitsap Sun (Subscription) - Bremerton,WA,USA
30, 2006, 76351 federally insured reverse mortgages, also known as home-equity conversion mortgages, were issued, up 77 percent from the previous fiscal ...

Retirement

2007-01-12T16:59:00.001-08:00

Bank on Your Home in Retirement?
MSNBC - USA
One would assume the higher home values would improve a retiree's situation by enabling a larger reverse mortgage. Unfortunately, the positive impact of ...

James Ennis

2007-01-11T13:43:00.001-08:00

James Ennis Named Mortgage Consultant at Harbor Mortgage Solutions ...
Newswire Today (press release) - London,UK
... provided through government-sponsored programs, namely the HUD/FHA Home Equity Conversion Mortgage (HECM) and the Fannie Mae Home Keeper (HK) programs. ...

Reverse mortgage News

2007-01-11T13:41:00.002-08:00

If you're in your 50s, it's time to plan how you'll pay for long ...
USA Today - USA
•Reverse mortgages. A reverse mortgage is a loan against your home that doesn't have to be repaid until you move, sell or die. You can receive the money in ...

United States Reverse mortgages turn home equity into income
Seniorscopie.com - Paris,France
Thus, the upfront costs on reverse mortgage can exceed $12000 for a $250000 home. Pricier houses can mean combined fees that are even higher. ...

Senior Mortgage

2007-01-11T13:41:00.001-08:00

A Mortgage Aimed at Seniors
RisMedia.com (press release) - Norwalk,CT,USA
In the fiscal year that ended September 30, 2006, 76351 federally insured reverse mortgages, also known as home-equity conversion mortgages, were issued, ...

Too to aid Seniors

2007-01-11T13:39:00.001-08:00

Reverse mortgage tool to aid senior finances
Belleville News-Democrat - Belleville,IL,USA
"Because they won't be getting any payments for a while, interest rates on a reverse mortgage aren't as good as they are on other types of home loans," ...

Reverse Mortgage News Jan 07

2007-01-07T22:29:00.000-08:00

Reverse Mortgages And Government Benefits
Best Syndication - Pinon Hills,CA,USA
Reverse mortgages are increasing in popularity as a way to turn home equity into a liquid asset. Before you jump on a reverse mortgage, ...

Those reverse mortgages have pitfalls
Los Angeles Times - CA,USA
The parent then takes out a reverse mortgage to help support the household as well as the adult child. If the elder falls or has a stroke that requires ...
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Many banks still put long 'holds' on check funds
Orlando Sentinel - Orlando,FL,USA
A reverse mortgage is available to anyone who is over age 62 and has substantial equity in their primary residence. It is a way of paying off your first ...

Reverse Mortgage Pros and Cons

2007-01-07T22:28:00.001-08:00

Pros and cons of reverse mortgages
Bankrate.com - USA
The National Reverse Mortgage Lenders Association recently reported the number of federally insured Home Equity Conversion Mortgages administered by HUD ...

Reverse Mortgage News

2007-01-07T22:27:00.001-08:00

REAL ESTATE WEEKLY
MarketWatch - USA
A reverse mortgage could help you pay for retirement -- or it could cost you and your heirs a lot of money. The housing boom of recent years has fueled ...

California Reverse Mortgage Loans Unlocks Home Equity For Seniors
Best Syndication - Pinon Hills,CA,USA
A reverse mortgage allows the homeowner to convert a portion of the home equity into cash. Unlike a traditional home equity loan (HELOC) or second mortgage, ...

Pros and cons of reverse mortgages
SitNews - Ketchikan,AK,USA
In general, a reverse mortgage converts home equity into cash in several different ways, ranging from monthly payments to an equity line to one-time payouts ...

"Cash-Poor, House-Rich Seniors Discover A Safe, Proven, And ...
Fast Pitch! (press release) - USA
reports Adam Bulyar, CEO, Oasis Reverse Mortgage. "Many cannot afford their mortgage payments, need expensive home repairs, and I've observed that most ...

Housing Bubble and Real Estate Market Tracker
Seeking Alpha - New York,NY,USA
Bank of America Corp. recently [started] a reverse mortgage pilot project in Phoenix… Countrywide Financial Corp. says it expects to launch a new reverse ...

Reverse Mortgages Turn Home Equity Into Income
TheDay - New London,CT,USA
Countrywide Financial Corp. says it expects to launch a new reverse mortgage in 2007. The competition from both is expected to put further downward pressure ...

Home Equity

2007-01-03T20:27:00.001-08:00

Reverse mortgages turn home equity into income
Pittsburgh Post Gazette - Pittsburgh,PA,USA
By Jeff D. Opdyke, The Wall Street Journal. A reverse mortgage could help you pay for retirement -- or it could cost you and your heirs a lot of money. ...

RM Makeover

2006-12-29T14:13:00.001-08:00

Makeover for reverse mortgages
Arizona Republic - Phoenix,AZ,USA
A reverse mortgage could help you pay for retirement - or it could cost you and your heirs a lot of money. The housing boom of recent ...

WAQll Street Journal LOG IN

2006-12-29T14:10:00.001-08:00

Making Your House
Wall Street Journal (subscription) - New York,NY,USA
... Mortgage of America, a unit of Seattle Mortgage, for instance, a 68-year-old homeowner with a $1 million house could get a jumbo reverse mortgage of about ...

Reverse Mortgages

2006-12-29T14:09:00.001-08:00

With reverse mortgages, seniors can obtain money
El Paso Times - El Paso,TX,USA
A reader who read my column on long-term-care insurance e-mailed me and suggested I write a column about taking out a reverse mortgage to pay for a long-term ...

Ringing IN the New Year

2006-12-29T14:08:00.001-08:00

Ringing in the new laws
Los Angeles Times - CA,USA
... Borrowers contemplating a reverse mortgage will get additional protection under Senate Bill 1609. It includes requirements that ...

Mercantile Mortgage LLC

2006-12-20T20:49:00.001-08:00

Our Towns
Delmarva Daily Times - MD,USA
... The featured speaker will be Marion Dawson Phillips, who serves as a reverse mortgage consultant for Mercantile Mortgage LLC. Phillips ...

Reverse Mortgage Arrest

2006-12-20T20:47:00.001-08:00

Arrest puts reverse mortgages in spotlight
Tracy Press - Tracy,CA,USA
Debbie George knew her business could be hurt after she heard about a possible real estate scam that involved the promise of a reverse mortgage. ...

Reverse Mortgage Good Source of Funds

2006-12-18T17:50:00.001-08:00

Reverse mortgages can be good source of money for elderly ...
KGET 17 - Bakersfield,CA,USA
... One alternative: a reverse mortgage, a way to pull money out of your home without saddling yourself with monthly payments, as you would with a home equity loan ...

Home Ownership

2006-12-18T17:49:00.001-08:00

Home ownership can be the American nightmare
DetNews.com - Detroit,MI,USA
... free house or just a small mortgage, and don't have the money to pay for a necessary home improvement, you might want to look into a reverse mortgage or into a ...

The Reverse Mortgage Advantage

2006-12-18T17:48:00.001-08:00

The Top Reads On Real Estate
Washington Post - United States
... Negotiation strategies are heavily emphasized throughout. ? "The Reverse Mortgage Advantage," by Warren Boroson (McGraw-Hill, $21.95). ...

Is A Reverse Mortgage Right for You

2006-12-18T17:47:00.001-08:00

mortgage

LoanPage.com Helps Baby Boomers Weigh Critical Reverse Mortgage ...
PR Web (press release) - Ferndale,WA,USA
As these articles explain, the reverse mortgage actually pays homeowners the equity in their homes. The equity may be used for home ...
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Reverse Mortgage Marketing Advantage

2006-12-18T17:45:00.001-08:00

There is still time to order your Reverse Mortgage Marketing Advantage package in time for the holidays: the perfect time to prepare for the New Year.

Why not jump-start your New Year with 52 proven-effective marketing strategies? Fill your pipeline with a steady stream of reverse mortgage applications.

If you order before December 20th, we will pay for Next Day Air shipping. That's a $54.63 value absolutely free.

Just one new reverse mortgage customer will more than pay for the cost of your Reverse Mortgage Marketing Advantage package!

Visit http://www.nrmec.org/RMMA.html today.

Mcdonalds Computer Platform Intergrates Reverse Mortgage

2006-12-18T17:43:00.001-08:00

McDonald Computer Corp.'s Platform Integrates Reverse Mortgage ...
Business Wire (press release) - San Francisco,CA,USA
... Computer Corp.'s reverse mortgage servicing component services all types of reverse mortgages including the Home Equity Conversion Mortgage, a Federal ...

Congress Adjoins Without Passing HECM Improvements.

2006-12-12T22:55:00.001-08:00

Congress Adjourns Without Passing HECM Improvements r

Despite some last-minute meetings between NRMLA and congressional staff, the 109th Congress adjourned on December 9 without increasing the Home Equity Conversion Mortgage (HECM) volume cap or other program enhancements contained in the FHA Modernization bill

10th Annual Mortgage Technology Conference: Jan 28-30 2007 Tempe, Arizona

2006-12-12T10:15:00.001-08:00

10th Annual Mortgage Technology Conference

January 28-30, 2007, at The Buttes Resort in Tempe, Arizona, for the
industry's most relevant technology conference of the year. This year's 10th
Annual Mortgage Technology Conference will combine the acclaimed
Mortgage EC and Mortgage Technology conferences into one can't-miss
event that will cover the most pressing technology issues faced by lenders
today.

10 Annual Mortgage Technology Conference

2006-12-12T10:05:00.000-08:00

GUAM- Pacific Daily News

2006-12-10T23:52:00.001-08:00

Retirement's 'unexpected marathon'
Pacific Daily News - Hagåtña,GU,USA
... The "origination'' fee alone typically runs from about $4,000 to $7,000, according to the National Reverse Mortgage Lenders Association. ...

Tracy,California Reverse Mortgage Scam

2006-12-10T23:48:00.001-08:00

Businessman accused of mortgage scam
Tracy Press - Tracy,CA,USA
Police arrested a local businessman Wednesday after he was accused of running a reverse mortgage scam on a Tracy couple. Tracy police ...

Senior Loan Center Founders Open California Reverse Mortgage

2006-12-10T23:40:00.001-08:00

Lloyd and Bonnie Daniel have opened California Reverse Mortgage Co. at 445 Tyler St. in Monterey.

The husband-and-wife team founded Senior Loan Center in Sacramento in 1992, then sold it to Financial Freedom and ran that company's West Coast division for four years. A former Monterey resident, Lloyd Daniel was a founding member of the National Reverse Mortgage Lenders Association in Washington, D.C.

California Reverse Mortgage Co. can be reached at 333-1929, 333-1922 or at www.careverse.com.

LONG LIFE

2006-12-05T11:19:00.001-08:00

Money: Long life is a blessing and a challenge
KARE - Minneapolis,MN,USA
... The "origination" fee alone typically runs from about $4,000 to $7,000, according to the National Reverse Mortgage Lenders Association. ...

Best Book REVERSE MORTGAGE ADVANTAGE

2006-12-05T11:13:00.001-08:00

Bruss' picks for the 10 best real estate books of 2006
Bradenton Herald - FL, United States
... "The Reverse Mortgage Advantage," by Warren Boroson (McGraw-Hill, New York), $21.95, 169 pages. Virtually all the key aspects ...

Maine Banker

2006-12-05T11:12:00.001-08:00

A Maine banker issued first reverse mortgage in 1961
Portsmouth Herald News - Portsmouth,NH,USA
... A reverse mortgage provides funds to seniors, either in a lump sum or over time, using the equity in their homes as collateral. ...

UMBR

2006-12-01T15:57:00.000-08:00

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

2006-12-01T14:42:00.001-08:00

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

2006-12-01T14:41:00.001-08:00

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

2006-12-01T14:39:00.001-08:00

/ 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

2006-11-29T15:16:00.000-08:00

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

2006-11-29T15:11:00.000-08:00

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

2006-11-28T18:17:00.000-08:00

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

2006-11-28T18:15:00.000-08:00

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

2006-11-28T18:13:00.000-08:00

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 ...

BEST SYNDICATION: Avoiding Reverse Mortgage Scams

2006-11-20T19:48:00.001-08:00

Avoiding Reverse Mortgage Scams
Best Syndication - Pinon Hills,CA,USA
... retirement incomes. And as the interest in reverse mortgages increase, so are the cases of reverse mortgage fraud and scams. Many seniors ...

Q&A Reverse Mortgage Refinanciing

2006-11-20T00:03:00.001-08:00

Installment sale vs. a carryback mortgage
Orlando Sentinel - Orlando,FL,USA
... For more details, please consult a local probate attorney to renounce your inheritance. Q: We obtained a senior citizens reverse mortgage in 2004. ...

Deseret News: Reverse Mortgage

2006-11-20T00:01:00.001-08:00

A reverse mortgage will just keep on paying
Deseret News - Salt Lake City,UT,USA
... A reverse mortgage is a loan that lets homeowners who are 62 or older borrow against the equity in their homes without having to sell the houses, give up the ...

Harbor Mortgage News

2006-11-18T16:04:00.001-08:00

mortgage

Patti Schiappa joins Harbor Mortgage Solutions as a Reverse ...
ClickPress (press release) - UK
The reverse mortgage market is one of the sectors that offers expanded career opportunities for dedicated professionals interested in helping seniors age in ...

New Hud Limits Help Seniors In Oregon

2006-11-18T16:02:00.001-08:00

HUD Raises FHA Mortgage Insurance Limits in Six Oregon Counties
Bend Weekly - Bend,OR,USA
... FHA insured reverse mortgages (Home Equity Conversion Mortgages) to potentially access more equity from their homes ... homes using FHA mortgage insurance," said ...

Reverse Mortgages PR Release

2006-11-17T09:48:00.000-08:00

The Truth About Reverse Mortgages
Best Syndication - Pinon Hills,CA,USA
... typical reverse mortgage has no income restrictions whatsoever . - Federally - insured reverse mortgages, which are known as Home Equity Conversion Mortgages ...

Marketwatch; Five HECM Questions

2006-11-17T09:47:00.000-08:00

Five questions to ask when considering a reverse mortgage
MarketWatch - USA
... charge adjustable interest rates on home equity conversion loans. Other costs include origination fees, third-party closing costs, mortgage insurance premiums ...

Australia: Money Management Reverse Mortgages

2006-11-17T09:45:00.000-08:00

Made of money
Money Management - Australia
... A reverse mortgage can be the solution to these cash demands and in the past a financial planner probably would have been unable to help. ...

Reverse Mortgages: Like a Loyal Son

2006-11-15T18:20:00.001-08:00

Reverse mortgages
The News Journal - Wilmington,DE,USA
... loan. With the standard FHA-insured home-equity conversion mortgage, also known as HCEM, you can use the funds for any purpose. ...

UTAH Desert News

2006-11-15T18:18:00.001-08:00

Senior citizen homeowners may get break on future property tax ...
Deseret News - Salt Lake City,UT,USA
... Wayne Harper, R-West Jordan, said that seniors taking advantage of the new program "would eat away at their home's equity" just as a reverse mortgage would. ...

Loss of Income from death of spouse: Reverse Mortgage to the Rescue

2006-11-14T18:32:00.001-08:00

Seniors Often Use A Reverse Mortgage To Prevent Financial Turmoil ...
SBWire (press release) - Green Bay,WI,USA
Santa Ana, CA -- (SBWIRE) -- 11/14/2006 -- Orange County California-based Reverse Mortgage USA helps many seniors each year prevent the financial difficulties ...

WSJ Press Release (Suscribers Only)

2006-11-13T16:29:00.001-08:00

Putting Your Mortgage in Reverse
Wall Street Journal (subscription) - New York,NY,USA
... charge adjustable interest rates on home-equity-conversion loans. Other costs include origination fees, third-party closing costs, mortgage insurance premiums ...

Applying for Reverse Mortgage in small town

2006-11-13T16:26:00.001-08:00

Reverse mortgage found anywhere
Charlotte Observer - Charlotte,NC,USA
... www.reversemortgage.org. They should consider the FHA (HECM), Fannie Mae and Financial Freedom Plan reverse mortgages. Q. A friend ...

Dr Don: Refinance or Reverse Mortgage

2006-11-09T17:52:00.000-08:00

Refinance or reverse mortgage?
Bankrate.com - USA
I am checking out whether to refinance or take a reverse mortgage. I will be 79 in January and live on my Social Security income. ...

Q&A HOW TO USE A REVERSE MORTGAGE TO BUY A RETIREMENT HOME

2006-11-08T09:45:00.000-08:00

How to sell property held in living trust
Mortage 101 - USA
... The other two reverse-mortgage lenders, Financial Freedom Plan and FHA (HECM), do not offer these mortgages to buy a retirement home. ..

New Zealand; Goverment Eyes Regulating Reverse Mortgages to Protect Elderly.

2006-11-06T14:16:00.000-08:00

Government eye on regulating seniors' loans
New Zealand Herald - New Zealand
... prompted the Government to consider regulating the reverse-mortgage sector. ... Minister Ruth Dyson has called for submissions on home-equity conversion schemes or ...

Trish Kauker Named Chief of Reverse Mortgages AT WSFS

2006-11-06T14:11:00.000-08:00

News in brief
The News Journal - Wilmington,DE,USA
A lifelong Delawarean has been named chief of the new reverse mortgage unit at WSFS Bank. Trish Kauker has worked for Beneficial ...

Law should be changed: Reverse Mortgage Theft Class D felony

2006-11-06T14:09:00.001-08:00

$100,000 question: Redefine aD felony?
Fort Wayne Journal Gazette - Fort Wayne,IN,USA
... s home in southern Huntington County with another man who helped convince Eva Mae that her best investment route was to obtain a reverse mortgage, or a special ...

HUD Helps Elderly Stay At Home With Grants

2006-11-03T21:39:00.001-08:00

HUD AWARDS OVER $12 MILLION TO HELP THE ELDERLY AND PEOPLE WITH DISABILITIES CONTINUE TO LIVE INDEPENDENTLY AT HOME

WASHINGTON - Housing and Urban Development Secretary Alphonso Jackson today announced $12.1 million in Service Coordinator grants to provide more than 6,000 low-income frail elderly and residents with disabilities in federally supported housing with assistance to identify and receive health care, meals and other critical support services.

Option Arm Holders over 62- STOP PANICING! Get A Reverse Mortgage

2006-11-03T13:08:00.001-08:00

Option ARM-holders: Time to Panic!!!

A mortgage called the option ARM offers a tantalizing possibility: The minimum payment is so low that you owe more on the house at the end of the month than at the beginning.

If you read Norton Juster's "The Phantom Tollbooth" as a kid, you're familiar with the concept. As the characters dine on a concoction called "subtraction soup," they become hungrier by the spoonful. They feel ravenous at the conclusion of the course.

An option ARM is like subtraction soup, except that a steady diet of minimum payments can result in a feeling of homelessness instead of hunger. To pile on the alarming rhetoric, a recent cover story in BusinessWeek dubbed the option ARMs "nightmare mortgages" and called them "toxic" and "deceptive."

Payment option adjustable-rate mortgages are appropriate for some borrowers in certain circumstances, and they're dangerous for other people.

Peter Bell-- Surge In Reverse Mortgages

2006-11-03T11:18:00.000-08:00

NRMLA Touts Surge in Reverses
Federally insured reverse mortgages grew by 77% in fiscal year 2006, according to the National Reverse Mortgage Lenders Association. The Federal Housing Administration insured 76,351 Home Equity Conversion Mortgages in fiscal 2006 (ended Sept. 30), compared with 43,131 the year before. NRMLA attributed the dramatic growth to several factors, including high home appreciation rates that allow senior citizens to access greater amounts of equity; a growing number of lenders offering the product; and greater acceptance of reverse mortgages as a wealth management tool. "More seniors are recognizing that traditional retirements tools, such as IRAs, pensions, and 401(k)s, are not providing sufficient income to help fund everyday living expenses and health care," said Peter Bell, president of NRMLA. The Santa Ana, Calif., metropolitan area displaced Los Angeles as the top reverse mortgage market in the country, with 5,825 loans funded versus 3,067 in 2005, NRMLA reported. A reverse mortgage is a loan that enables homeowners 62 or older to borrow against the equity in their home without having to sell it or give up title. NRMLA can be found online at http://www.nrmlaonline.org.

Housing Market index -- One Year Lag-- Get your Reverse Mortgage Now!

2006-11-03T11:01:00.001-08:00

Real Estate

Can the Economy Survive the Housing Bust?

Fortune on CNNMoney.com
By Jon Birger

Real estate downturns have a way of leading to recessions and stock market slumps. So far the damage has been limited, but the numbers keep getting worse, says Fortune's Jon Birger.

Tucked away in the briefcase of Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., is a chart so scary she's hesitant to show it to investors. It plots the National Association of Home Builders' Housing Market index - a monthly measure of builder confidence - against the Standard & Poor's 500 stock market index, with a one-year lag.

It turns out that the mood of builders is a terrific stock market bellwether: The correlation between current builder confidence and future stock market returns over the past ten years is downright unnerving.

Not only did the NAHB index presage the start of the post-1994 bull market in stocks, but its decline starting in 1999 foreshadowed the equity market collapse that came the following year. Builder confidence rebounded in November 2001 - a year ahead of the stock market upswing that began in October 2002.

Why is Sonders worried now? Just look at the chart. Over the past year, the NAHB housing index plummeted 54 percent. Were stocks to follow suit, the S&P - 1400 in late October - would be trading below 700 this time next year.

WSFS Financial Elects New VP PatrIcia Kauker

2006-11-02T15:38:00.001-08:00

WSFS Financial Elects Patricia Kauker VP, Reverse Mortgage ...
Trading Markets - Los Angeles,CA,USA
(WSFS | charts | news | PowerRating) said that it has appointed Patricia Kauker as Vice President of newly created reverse mortgage business unit. ...

KANSAS: Medicaid planning in competition with Long Term Care.

2006-11-01T16:59:00.001-08:00

Plain(s) Talk on Medicaid and Long-Term Care
The Heartland Institute - Chicago,IL,USA
... Conclusion 5 Home equity conversion is an enormous but largely ... except that Medicaid exempts the home and all ... A reverse mortgage specialist said, "We're ...

Cited research by Merrill Lynch's David Rosenberg

2006-10-31T16:21:00.001-08:00

No Bottom Seen in Housing Market
Seeking Alpha - New York,NY,USA
... 10 million households that bought an existing home since June ... comes down, they may not have sufficient equity in the ... to do a refinance or a conversion from I/O ...

Canada- SASKATCHEWAN Reverse Mortgages

2006-10-30T15:13:00.001-08:00

Reverse mortgages right for some, not for others
StarPhoenix - Saskatoon,Saskatchewan,Canada
If you are 60 years old or older, a reverse mortgage is a way to convert home equity into cash. It is a loan with no monthly repayments required. ...

Browyn Belling, AARP Foundation's Reverse Mortgage Specialist.

2006-10-30T15:10:00.001-08:00

Risk To Heirs Gone With Reverse Mortgages
KCRA.com - Sacramento,CA,USA
... Browyn Belling, the AARP Foundation's reverse mortgage specialist, said the loans are a relatively new way to tap into home equity for those who are 62 and ...

Home Buying Patterns of Seniors

2006-10-26T21:51:00.001-07:00

Two New Studies Look at Homebuying Patterns of Older Americans

Slightly more than half of older second home owners spend two weeks or less in their second homes and two-thirds spend fewer than four weeks. This perhaps indicates that most of these second homes are held for investment rather than recreation. Only 12.9 percent plan to make their second home their main residence in the future. The HRS study is longitudinal so the authors were able to conclude that, of those second home owners identified in the study in 1998, 45 percent owned only one home by 2004 and to extrapolate that the typical second home belonging to older households is owned for 15 years before being sold. For the typical second home owner, equity in that home represented only 13 percent of the household wealth.

The study's most surprising conclusion about second home ownership among the Boomers included in the data is that they were no more likely to own such homes than those who preceded them by one or two generations.

Reduced Reverse Mortgages Fees

2006-10-26T21:49:00.001-07:00

Partnership Reduces Reverse Mortgage Costs for Senior Citizens
Business Wire (press release) - San Francisco,CA,USA
... This solution includes reverse mortgage documents for Fannie Mae HomeKeeper, FHA HECM (Home Equity Conversion Mortgage) and Reverse Mortgage of America's new ...