Items Tagged with 'National Reverse Mortgage Lenders Association'

ARTICLES

  • A guide to grassroots reverse mortgage marketing

    Cost-effective tips for growing your business
    It’s a tough climate in the reverse mortgage space right now, and there are not many out there who are able to throw down big money on marketing. That’s why learning grassroots marketing skills to promote your services locally is more important than ever. Jim McMinn, lead sales trainer at Finance of America Reverse, offered his tips at NRMLA’s annual meeting on how to make grassroots marketing work for you.
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  • Stanford: Boomers are entering retirement with less savings, greater mortgage debt

    Could home equity access be the solution?
    Americans are now living longer than ever before, and experts predict that a record number of Baby Boomers will soon enter retirement. But when compared to past generations, the Stanford Center on Longevity has discovered the landscape of homeownership and retirement in America is changing – for the worse.
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  • Appraisal experts: Here’s how you can best prepare your borrower

    Set expectations, and if they must appeal, bring solid comps
    Borrowers often have considerable expectations when it comes to their home’s estimated value, and navigating these can be tough for both the loan officer and the appraiser. Experts from two appraisal management companies recently discussed how to best prepare a borrower for an appraisal the National Reverse Mortgage Lenders Association conference in San Diego, and here’s what they said.
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  • Proprietary reverse mortgages essential to helping more homeowners access equity

    Expert panel predicts more products will emerge to fill HECM's void
    Proprietary reverse mortgages are key to helping American homeowners unlock the wealth in their homes, and we'll likely see more of them come to market, said panelists at NRMLA's annual meeting on Monday. "Ultimately, what we're trying to do is create solutions for borrowers and give them flexibility and choice," said Jonathan Scarpati, vice president of wholesale at Finance of America Reverse.
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  • HUD: Reverse mortgage second appraisal rule affecting about 20% of HECMs

    Panel gives update on impact of recent HECM program changes
    The latest mandate requiring a second appraisal on select reverse mortgage loans has affected about 20% of HECM appraisals so far, according to representatives at the Department of Housing and Urban Development. Speaking on a panel at NRMLA's conference on Monday, HUD staff members presented data on the impact of the new appraisal rule and other recent changes made to the reverse mortgage program.
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  • FHA Commissioner Brian Montgomery: More change ahead for reverse mortgages

    “The HECM program has profound issues”
    Federal Housing Administration Commissioner Brian Montgomery said Tuesday at the National Reverse Mortgage Lenders Association’s annual meeting in San Diego that the agency is working to address the volatility within the reverse mortgage program, hinting that the industry can expect more change ahead, as “efforts in past years to address these problems have generally only delivered short-term fixes.”
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  • HECM professionals set to meet in San Diego

    Annual industry event will focus on forward-looking strategies for success
    The reverse mortgage industry’s biggest event is just one month away. More than 400 HECM professionals from 155 companies will meet at NRMLA’s annual conference next month to discuss issues affecting their work. “We won’t succeed if we keep doing things the way we always have,” said NRMLA Executive Vice President Steve Irwin. “Now is the time to identify new opportunities, new methodologies and new processes to leapfrog this industry forward.”
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  • Senior home equity continues to smash records

    Hits nearly $7 trillion
    Senior housing wealth just keeps climbing. According to the NRMLA/RiskSpan Reverse Mortgage Market Index, aggregate home equity levels for homeowners 62 hit $6.9 trillion in the second quarter of 2018. That’s a $130 billion jump from the previous quarter. But will they utilize these funds in retirement?
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  • HECM professionals to gather in Texas for Reverse Mortgage Day

    Annual conference will focus on origination strategies
    As the reverse mortgage industry navigates a market in distress, HECM professionals will gather at the 19th annual Reverse Mortgage Day. Set in Austin next month, this year’s event will address issues affecting the industry and explore ways originators can succeed in this challenging climate.
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