Seize New Opportunities: Your Guide to Reverse Mortgages Price with shipping elsewhere
This brand new guide to reverse mortgages comes at a time when the two top HECM lenders have announced they are getting out of that business. Wells Fargo and Bank of America represented 38.7% of the market at the end of the first nine months of 2011, originating $5.267 billion—out of $13.596 billion—in such loans, according to Inside Mortgage Finance’s Inside FHA Lending.
The market-shaking news from the two banks is a positive development for other reverse mortgage lenders, presenting big opportunities to them and to those looking to enter the playing field. Demand is increasing as the Boomers age, and there will be winners who can take some of the market share being left on the table. HECM endorsements are already increasing.
This guide provides a comprehensive overview of the HECM program, which traditionally represented more than 90.0 percent of all reverse mortgages and accounts for nearly all such lending today, as well as other issues surrounding the loans. You’ll find topics such as originations, counseling requirements, servicing, securitization and regulation. Included are our exclusive rankings along with noteworthy guidance from HUD.
Here’s some of what you’ll find in the Guide
- Opportunities due to recalibration of requirements,
options, counseling and low interest rates
- Exclusive rankings of the top 50 HECM lenders by volume
* Wells Fargo presently sits at #1 and First Priority Financial Inc. holds the 50th spot
- Wall Street’s favorable outlook for HMBS and the secondary market
- New origination, servicing, and counseling requirements
- Details and concerns about the popular HECM Saver product
- News on Ginnie Mae’s HMBS securitization program, risk management and outlook
- Latest regulatory activity and details on significant new lawsuits
* Federal Reserve, FFIEC, FDIC, DOJ, AARP, Consumer Advocates,
Comparison to Subprime and State Regulators
- 2011 changes to HUD Rules