Fed Makes No Move on Interest Rates

At the FOMC (Federal Open Market Committee) Meeting earlier this week the “Fed” made no concrete announcements regarding the eventual increase in Interest Rates that is ultimately expected to happen. Although Janet Yellen (Federal Reserve Chairwoman) acknowledged that the Economy does seem to be gradually improving, she spoke in terms of a couple of  specific… Continue reading Fed Makes No Move on Interest Rates

Financial Assessment for Reverse Mortgages Delayed

Although the “Financial Assessment Component” for Reverse Mortgage (HECM) Transactions was supposed to take effect on Monday March 2nd, the Federal Housing Administration has announced that the “rollout” will now be delayed anywhere from 30 to 60 days. Over the years there has been talk about some type of Financial Assessment being instituted for Reverse… Continue reading Financial Assessment for Reverse Mortgages Delayed

Reverse Mortgage Financial Assessment

Although some type of “Financial Assessment” has been talked about for years in the Reverse Mortgage Industry, the practice has never fully been implemented. However, starting in March 2015 this new dimension of Reverse Mortgage Lending will actually be rolled out. In reality, what Lenders are really trying to determine is that Reverse Mortgage Borrowers have the… Continue reading Reverse Mortgage Financial Assessment