Reverse Mortgage Scammer Sentenced, CFPB’s Double-Take on Small Banks

NewImage.jpgReverse Fortunes Weekly Podcast Episode #191

The latest podcast from Reverse Fortunes’ recaps a CNBC newscast that discusses the use of home equity as a nest egg for retirement. Among the options? Reverse mortgages. Additionally, Reverse Fortunes’ Shannon Hicks follows up on the sentencing in a multi-million-dollar reverse mortgage scheme that involved four scammers and numerous reverse mortgages made on false documentation.

Hicks also discusses the CFPB, and how it could become the target of upcoming lawsuits, as well as recent comments from CFPB Director Richard Cordray to the effect that a two-tiered enforcement system may mean small banks have a different set of rules than their larger, national counterparts.

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Talking Points:

  • CNBC: Use home equity as nestegg
  • Reverse mortgage scammer gets 5 year prison sentence
  • Target? CFPB and lawsuits
  • Community banks may fly under the CFPB radar

Listen now“Reverse Fortunes is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editors Note: These posts are sponsored by Reverse Fortunes.

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