Loan Limits | REMALO Marketing Blog

Posts Tagged ‘Loan Limits’

REMALO Member Call In - Monday November 30

Sunday, November 29th, 2009

Our November Member Call In….

To help reverse mortgage consultants grow their businesses, avoid obstacles and get questions answered, Sam Collins is hosting a special tele-coaching call for all REMALO members. This call is an open question and answer format. You are welcome to call in to eaves drop, but hopefully participate by asking questions and get answers you need to grow your business.

There is much to discuss with the industry still reeling from a reduction in Pincipal Loan Limits in October, is now seeing the possiblity of another haircut and reduction of cash out to senior homeowners. As the year ends, where are we going? What does the future hold for originators? These questions and more should be on the top of your agenda.

Even if you don’t have a question to ask, listening to other member questions is a valuable source of new strategies and tactics to use within your reverse mortgage business.

Please check your local time zone below:

2:00 pm EDT 1:00 pm CDT 12:00 pm MDT 11:00 am PDT

Visit our Calendar of Events to attend: http://www.remalo.org/public/mgcal.cfm?calID=1&caldate=11/30/2009

Remember, keep moving forward to stay in Reverse

Tags: Amp, Answer Format, Calendar Of Events, Cdt, coaching, Haircut, Loan Limits, Local Time Zone, Member Questions, Members, Mortgage Business, Mortgage Consultants, Obstacles, Open Question, Possiblity, Question And Answer, reverse mortgage, Sam Collins, Tele
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HUD letters result in major changes for seniors and the reverse mortgage industry!

Thursday, September 24th, 2009

post by Sam Collins
hud-seal

Major changes emerge as HUD policy makers come out with a multitude of new mortgagee letters and recent press release reveals more changes possible on the horizon. The letters and press release can be seen on the home page of www.remalo.org.

Some of the mortgagee letters are clear, while others leave a lot of room for clarification, especially who can and cannot order FHA appraisals.

Also, new lower principal loan limits effective October 1, raises many questions. What about senior clients who have already have applications working? Hurry now to get your FHA case numbers and signed counseling certificates completing by Sept 30. Case numbers October 1 and beyond are subject to new calculations.

What about our senior clients? This wave of new changes are certain to effect senior homeowners and their lives! Now add to the latest Press Release, of other proposed changes. It appears our industry is in for yet more major changes and our senior clients are going to pay the price!

Remember, keep moving forward to stay ahead in reverse.

Tags: Fha Appraisals, HUD, Loan Limits, Mortgage Industry, mortgagee letters, principal loan limits, reverse mortgage, reverse mortgage industry, senior homeowners, seniors
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Staying in the Game is Irreversible!

Thursday, July 9th, 2009

post by Sam Collins
baseball

It’s easy to be frustrated at times in any business, nevertheless, the reverse mortgage business. I know, I speak with loan officers, lender account execs, and other service providers around the country. My advice: don’t be too hard on yourself.

Not sure if you are a baseball fan, but the game of baseball can be fascinating. Baseball is similar to life. Once an inning (or day) is gone, there is no going back. However, you can learn from the mistakes you made, bring in a relief pitcher, substitue for a pinch hitter. Yes, do whatever you can in an ethical manner to win the game. Many times you hear of getting to the final inning, last at bat with two outs, and the hitter knocks the ball out of park or drives a man home to win the game. Wow! Winning is very exuberating and a lots of fun.

So it is in the reverse mortgage game. Each day, each hour, and every minute must be met with determination and the will to win. Staying in the game is irreversible!

To win or lose is up to you, but always do your best to stay in the game. In the end you will be glad you did.

Remember, keep moving forward to stay ahead in reverse.
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Did you see the June HECM closed loan reports from HUD? Note the big cities are leading the pack.
See the full report posted on the home page of http://www.remalo.org
Could it be because of the new HECM loan limits? Let’s hope HUD uses good judgement and keeps
the national loan limit at $625,500.
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Check out our event calendear for Next Wed, July 15. We have a great webinar with the title experts from
PR Closing. Our experts are going to discuss and give answers to some important title issues you encouner in your reverse mortgage practice.
Don’t miss this important Free webinar. CLICK HERE to register.

Tags: Account Execs, Baseball Fan, Calendear, Ethical Manner, hecm, HUD, Loan Limit, Loan Limits, loan officers, Loan Reports, Lots Of Fun, Mortgage Business, Mortgage Game, National Loan, Pinch Hitter, Relief Pitcher, reverse mortgage, Sam Collins, Staying In The Game, Webinar
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