Items Tagged with 'Jim Cory'

ARTICLES

  • Originating: Reports of the Mortgage Broker's Death are Greatly Exaggerated

    The reports of my death are greatly exaggerated,” Mark Twain famously declared after reading an obituary of his death that ran prematurely. Today’s reverse mortgage brokers could say the same thing. Since the subprime crisis began in 2007, followed by the “prime” crisis that continues today, the mortgage broker has taken the lion’s share of the blame. And why not? Mortgage brokers surely played a role in the crisis. Add to that their lack of true national cohesion (by definition!) and absence of an effective, well-funded lobby, and you have the perfect scapegoat. Beginning in 2008 the voices against the
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  • Originating: The Tale of Regulators and Originators

    In Greek mythology, Hera is known as the wife and sister of Zeus, the goddess of women and marriage. HERA, in the world of reverse mortgages, however, was written into law on July 30, 2008, as the passing of the Housing and Economic Recovery Act. The summer of 2008 was a turbulent time for mortgages, home values and the global economy overall, with the world on the cusp of a major economic correction. HERA was the beginning of a tremendous amount of regulation in the mortgage business, with a great deal of it pertaining to the Federal Housing Administration, and
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