Why Reverse Mortgages Keep Moving Forward

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post March 18, 2019 3,933 Views For many older homeowners, reverse mortgages are an easy way to tap into their home’s equity. Despite many misconceptions about reverse mortgages, they may not even be as risky as many believe, according to experts, as more and more homeowners take advantage of the product.An article from Bloomberg explores the recent movement to reverse mortgages. Despite the risk, such as taxes, insurance, maintenance, and utilities as well as a risk of foreclosure, reverse mortgages are still a viable equity alternative to selling and moving. Tightening rules after 2008, including requiring homeowners to show they can afford tax and insurance payments, has reduced the risks involved with reverse mortgages since then. However, some still note the risks involved“The profits are significant, the oversight is minimal, and greed could work to the disadvantage of seniors who should be protected by government programs and not targeted as prey,” said Dave Stevens, CEO of the Mortgage Bankers Association on Bloomberg.DS News reported earlier that, according to LendingTree and data from the Federal Housing Authority’s Home Equity Conversion Mortgage (HECM) program, HECMs originated in the 100 studied cities at an average rate of 7.1 loans per 1,000 homeowners over the age of 60 between 2012 and 2017. The top city, Virginia Beach, boasted a rate of 13.8 loans per 1,000 homeowners over the age of 60.Government-back loans as a whole have seen a resurgence. Kroll Bond Ratings Agency reported 63 percent increase in residential mortgage-backed securities (RMBS) issued in 2018 over 2017. The report indicated that if the U.S. GDP was to grow at the steady pace it has this year, until July 2019, the year could see “another robust issuance year in 2019.” However, factors such as higher interest rates, home price moderation, and widening spreads that have been experienced by the market in the last few weeks are likely headwinds that might pull down the performance of RMBS next year, the report revealed.”Given the potential downside risks, we aren’t forecasting issuance growth in 2019, but believe issuance will be comparable to 2018 levels,” KBRA stated in the outlook. Bloomberg HECM Kroll Bond Rating LendingTree Reverse Mortgages RMBS 2019-03-18 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bloomberg HECM Kroll Bond Rating LendingTree Reverse Mortgages RMBS About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Why Reverse Mortgages Keep Moving Forwardcenter_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Investment, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days ago Share Save Home / Daily Dose / Why Reverse Mortgages Keep Moving Forward Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Previous: Court Approves $13.8M Wells Fargo Settlement Next: Fair Warning: State Supreme Court Rules on Foreclosure Notices Subscribelast_img read more

Klopp heartbroken at Kagawa fate

first_img He added: “But for most Japanese people it means more to play for Man United than Dortmund. We cried for 20 minutes, in each others’ arms, when he left. “One year before that Nuri Sahin went because Real Madrid is the biggest club in the world. If players are patient enough we can develop the team into one of the biggest in the world.” His side’s run to the Champions League final has brought Klopp to the attention of some of the world’s biggest clubs, but for now he is happy at Dortmund. He said: “In this moment I don’t think of anything else. “If I went to many clubs now and said: ‘Hello – bring me offers’, maybe some would start running. But I’m not interested because, for me, this is the most interesting football project in the world. “In three or four years, if someone wants me, we can speak. But, for now, this is the best place for me.” The 24-year-old moved to Old Trafford from Dortmund last summer, but has been far from a first-team regular and even then has often had to play out of position. The departure of Kagawa is part of a pattern for Dortmund coach Klopp, who this season has seen Mario Gotze agree to join Bayern Munich, with Robert Lewandowski looking likely to follow. Klopp told the Guardian: “Shinji Kagawa is one of the best players in the world and he now plays 20 minutes at Manchester United – on the left wing! My heart breaks. Really, I have tears in my eyes. Central midfield is Shinji’s best role. He’s an offensive midfielder with one of the best noses for goal I ever saw.” Press Associationcenter_img Borussia Dortmund boss Jurgen Klopp says his “heart breaks” to see Shinji Kagawa playing a bit-part role at Manchester United.last_img read more