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Article: The promise and perils of reverse mortgages.(Origination Strategies)
- Article from:
- Mortgage Banking
- Article date:
- August 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With the FHA commissioner whispering in one ear and the former president of Ginnie Mae whispering in the other, it's hard not to get excited about reverse mortgages. In fact, 55,218 Home Equity Conversion Mortgages (HECMs) have been originated in just the first quarter of 2008-more than in the entire year of 2005. Combine an estimated growth rate of 70 percent a year for this product versus declining volume in traditional mortgage products, and it becomes clear why you cannot afford to ignore this market opportunity. But then, even the most hopeful of expectations can occasionally go awry. "We have a world-class baggage system that is going to work perfectly on day one." ...
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Article: Texas Lenders Say Reverse Mortgages Are ...
Knight Ridder/Tribune Business News;
June 7, 2003 ;
700+ words
... ... this week to learn the latest on reverse mortgages. Much was on the table to discuss ... state constitutional amendments. Reverse mortgages sometimes are referred to as the ... at the end. Congress authorized reverse mortgages in 1987 and made them permanent in ...
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