Items Tagged with 'HECM Counseling'


  • Insiders reveal latest HECM counseling trends

    Speakers at NRMLA conference shed light on what’s in the pipeline for HECM lenders
    In two separate sessions that discussed reverse mortgage counseling, insiders revealed emerging trends that shed light on what’s coming down the pipeline for HECM lenders. At NRMLA’s annual meeting Monday, panelists from three different counseling agencies reported on the trends they’re witnessing, while HUD’s John Olmstead revealed HECM counseling stats.
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  • HUD awards $47 million grant to housing counseling agencies

    Funding is crucial to success of reverse mortgage program
    The U.S. Department of Housing and Urban Development announced Wednesday that it has awarded $47 million in housing counseling grants. Some of the grant money went to agencies that offer reverse mortgage counseling, and the influx of cash will be crucial to keeping them in business and keeping the HECM program alive.
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  • HECM counselors see volume pick up

    With business nearly back to normal, counselors report jumbo interest and margin variation
    Before you can get a reverse mortgage, you have to submit to financial counseling. And that’s why talking to HECM counselors can be a great way to gauge what’s in the pipeline and identify emerging trends. ReverseReview reached out to two certified counselors to learn about what they're seeing right now.
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  • Spotlight: HECM Counseling

    From funding problems to assessment tools and claims about biased advisors, we take an inside look at the counseling world from three very different perspectives.          A Counselor’s Perspective By Anthony Lopes I must confess that when I was first approached about writing this article, I could barely contain my excitement. Counseling is one of the most hypnotic and mesmerizing elements of the HECM process, and I knew that industry professionals would be giddy at the prospect of reading more about this fascinating topic! OK, all sarcasm aside, the counseling component of the reverse mortgage loan process
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  • Originating: HECM Counseling as a Marketing Tool

    HUD requires every prospective reverse mortgage borrower to complete a reverse mortgage counseling session. We should all be in agreement that counseling is critical to the success of the Home Equity Conversion Mortgage (HECM) program. Unfortunately, some loan officers have not invested the time to understand the role of the counselor, and believe the counseling requirement slows the mortgage process and even discourages seniors from obtaining a reverse mortgage. As usual, I look for the silver lining. And what I have discovered is this: if you understand how HECM counseling works and are able to properly guide your borrower through
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