Archive | Reverse Mortgages

business man pointing to transparent board with text: reverse mortgages


Acquiring Date In its fifth year, FHA’s policy of requiring the financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by over three quarters and serious defaults by over two-thirds. This article by New View Advisors quotes Ginnie Mae data, they state, “We grade Financial Assessment’s performance as a solid […]

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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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midsection of male judge striking gavel while holding scale with money in courtroom

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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