More regulation, hope this is helpful.
Effective 11/24/08, all new loan submissions must be accompanied by the HECM Anti-Churning Disclosure and show an increase in the Principal Limit of at least five (5) times the cost of the new loan
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Continue reading " HECM to HECM Refinance "

Two New Reverse Loan Products
We are pleased to introduce two new products for reverse mortgage loans that are available today:
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Home Equity Conversion Mortgage (HECM) Fixed Rate
This is an FHA-insured Reverse mortgage program with a fixed rate, rather than an adjustable rate.
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Home Equity Conversion Mortgage (HECM) Monthly LIBOR ARM
This is an adjustable rate product based on [...]

Continue reading " Wells Fargo introduces Fixed HECM and Libor HECM "

LIBOR—MONTHLY ADJUSTING HECM

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Recent news from the Senior Lending Network states:

Effective Wednesday, October 29, 2008, we will need to temporarily suspend all new applications for our proprietary products (the jumbo Equity Plus Advantage and the Simple60) for the next 60 days. Therefore, we will no longer accept any new proprietary product submissions. We apologize for the short notice [...]

Continue reading " Another Jumbo Bites the Dust "