Archive | Reverse Mortgages

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JUMBO REVERSE MORTGAGE

Someone the other day asked me “How do I explain these loans to a client?” There is an excellent article a few days old that asks an outstanding question. “Who needs a proprietary reverse mortgage not the usual HECM.” Answer: A homeowner of an expensive home who wants more money out with no payments. Here is […]

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Great Story In Another Department Of Justice Penalty ($29M)

Moral Of This Story: Buy A Whistle The DOJ and Walter Investment Management doing business as Reverse Mortgage Solutions (RMS) agreed to this settlement. The allegations were that the defendant submitted false claims for debenture interest and for the reimbursement of unlawful referral fees stating that they were sales commission. The transaction involved foreclosed properties, […]

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Reverse Mortgage Counseling

In Our MLO Continuing Education Courses this year, we have a section on Reverse Mortgages I have been talking about all the factors. One aspect is the requirement that the prospects receive detailed counseling from Government Approved Counselors. I believe that the Reverse Mortgage Line of Credit is an excellent tool for financial planning for […]

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Article on the Reverse Mortgage Changes

This information was sent to me by Howard Kirschner, one of our instructors and local RM pundit. Thank you, Howard. In our recent article dated July 26, 2017, we indicated that a new administration in Washington marks a time of uncertainty and uneasiness as people try to guess what the new policies will be.  The announcements made […]

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