Archive | Reverse Mortgages

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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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HUD 2017-12 on Reverse Mortgage Changes

HUD 2017-12 on Reverse Mortgage Changes Link for the full letter: HUD 2017-12 This letter announced the changes on Reverse Mortgage effective with cases opened after October 1st. The changes involve the amount of funds that can be secured and a change to the Mortgage Insurance Premium Rates. This is the official word; I always like […]

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Reverse Mortgages Are Changing Again

HUD In Their Infinite Wisdom Has Changed The Reverse Mortgage Procedures And Regulations Again The easiest way to describe this is to post a letter that I wrote to DGE’s outstanding speakers about the changes. This is what I thought MLO CE instructors should cover with their students. Enjoy. SOURCE: HUD MORTGAGEE LETTER 2017-12, Aug […]

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