Despite criticizing the central bank’s bond buying program, Federal Reserve Bank of Dallas President Richard Fisher said he would not rule out backing a tapering of purchases by March depending on current economic conditions.
If you repeat a lie long enough, it becomes truth. Such is the case in Texas, a state heralded as the only economy to weather the housing bubble without experiencing steep home price drops. Texas advocates would give the internal business structure all the credit, but that's not entirely true.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.