Archive for September, 2008
Reverse Mortgage Companies Accused of Shady Practices
The Boston Globe, reported that 4 mortgage brokers were recently sent cease and desist orders in violation of state law from the Massachusetts Division of Banks. The brokers/lenders were accused of using shady marketing tactics, which many seniors are prime targets. People who mistreat children and seniors will have a special place in the afterlife, [...]
Top National Reverse Mortgage Lenders Through Q3 2008
Below you will find a list of the top mortgage lenders in the US, through Q3 of 2008. I have been predicting for some time that as the economy searches for footing, reverse mortgage closings would also decline. However relative to standard mortgages the drop off has not been as drastic.
Chart Courtesy of HUD.
Rank
Lender
Endorsed Loans
1
WELLS [...]
1st Metropolitan Mortgage - Net Branch opportunities
Real Estate Finance Entrpreneurs, listen up. I came across a great company that is built upon excellent management and has found shelter during the sub prime fallout.
If you’re a mortgage broker or mortgage banker who has dreamed of running a business, controlling your career or achieving financial freedom, you’re in the right place. [...]
Cashing out the nest egg - Minneapolis Star Tribune
Cashing out the nest eggMinneapolis Star Tribune, MN - Sep 7, 2008HUD insures that debt and the interest, making this kind of reverse mortgage particularly appealing to lenders. National surveys show that many seniors use …Ask the Expert: Mom's co-op choices Newsdayall 3 news articles
Saul Friedman | Gray Matters - Newsday
Saul Friedman | Gray MattersNewsday, NY - Sep 13, 2008Under the new law, according to readers who have been my guides on reverse mortgages and Peter Bell of the National Reverse Mortgage Lenders Association, …
HUD explains protections for reverse mortgages - HeraldNet
HUD explains protections for reverse mortgagesHeraldNet, WA - Sep 14, 2008The US Department of Housing and Urban Development's Home Equity Conversion Mortgage program, the nation's most popular reverse mortgage with a market share …