Posted To: Pipeline Press
The FHA's insurance fund is out of the headlines , having moved above the mandated 2% level. (Yes, for the first time since 2008!) Everyone agrees that the increase is primarily due to the reverse mortgage program. Yes, actuary folks say we have about 10,000 people a day turning 62 (or turning 65 and retiring) here in the U.S. - that magic age for reverse mortgages. Who says it isn't a growth business? Those "in the know" point to appreciation in the housing market, changes to upfront mortgage insurance premium pricing, and new borrower assessment rules. But the value of the reverse mortgage portfolio is very much subject to interest rate fluctuations and home value forecasts. No one is getting any younger . Retirees have long loved to move to places like Florida, Nevada, and Texas due in part...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1S9Bs2V
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