More Ideas for Rebuilding the Secondary Mortgage Market

re: More Ideas for Rebuilding the Secondary Mortgage Market

JHON Scot — Wed, 03 Apr 2013 06:25:50 GMT

I want to point out that HUD does not allow cross-selling, i.e. selling reverse mortgages and selling insurance products. See Mortgagee Letter 2008-24. As you point out, while there may be times insurance products can be beneficial along with a reverse mortgage they should be the individual's decision and separate transactions and via separate agents and companies. Reverse mortgage application and loan documents include many disclosures regarding purchasing insurance products and statements explaining that borrowers are not required to purchase insurance or financial products with reverse mortgages. http://www.reversemortgagelendersdirect.com/reverse-mortgage-information/

re: More Ideas for Rebuilding the Secondary Mortgage Market

kenezen — Sun, 09 Dec 2012 04:03:24 GMT

Servicer/Master Servicer is the key! It would be advantageous this time to properly construct and approve Adequate servicing operations that Service loans from construction through conduit operations and in-house methods. That can integrate their Technology platform to master Service: 1. Verify all documentation 2. Verify all signatures 3. verify systems adequacy in servicing operations of sub-servicers 4. hedge soft pipelines adequately and 4. Be able to track all mortgages through Aftermarket and slicing and dicing tranches to follow ownership and pieces that make up the mortgages submitted. If the can't do that; welcome to the second great crash! There is a way!