S1L Partners with American Bankers, FHA Changes Create Market Uncertainty

NewImage.jpg Reverse Focus Weekly Podcast Episode #235

This week’s Reverse Focus podcast discuses a new alliance between the American Bankers Association (ABA) and San Diego-based Security One Lending. A top-5 lender, Security One will offer reverse mortgage products to members of ABA’s subsidiary, Business Solutions. Utilizing Security One will enable small banks to offer reverse mortgages locally.

K&L Gates attorneys call the recent findings of Federal Housing Administration’s (FHA) audit “extremely sobering.” Changes in insurance premiums leave uncertainty in the marketplace, especially among lenders, and while changes coming to the home equity conversion program are unknown, it is likely the program will also undergo substantial modifications.

Reverse Focus’ Shannon Hicks also discusses Washington’s possible talks of eliminating the mortgage interest deduction in preparation for the fiscal cliff. The talks have stirred protest among housing industry leaders, as it will “chill” the already fragile market’s recovery. The mortgage tax deduction is the third largest tax expenditure in the federal  budget, leaving many politicians in Washington eyeing it as a potential solution to the budget crisis.

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Talking Points:

  • Security One forms powerful alliance
  • Lobbyist say Hands off mortgage deduction
  • Sobering & Uncertain: FHA Fund
  • Going Hi Tech: Mobile technology & reverse?

Listen now. “Reverse Focus 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.” Editor’s Note: These posts are sponsored by Reverse Focus.

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