Review Mortgage Lenders

1st Reverse Mortgage

1st Reverse Mortgage

Join us as we talk with Peggy Sage of 1st Reverse Mortgage

HECM margins remain stable at 1.98% | 2018-12-13

Ribler said it’s worth noting that margins have stabilized month over month while the HECM price index has shown more drastic changes.

The HECM price index reflects real-time bond pricing for a basket of 2017 PLF Annual LIBOR loans. In September, the index was 1074.56, but in October it fell to 1066.91.

“The slight drop in pricing has been fueled by slightly wider spreads, partially offset by more favorable forward interest rates,” Ribler explained.

Dan Harder, vice president at 1st Reverse Mortgage USA , said he thinks the industry will retain this margin for the first half of 2019.

 “Obviously, margins are predicated on interest rates, so if rates stay where they’re at, I think we're going to be stable here first and maybe even second quarter, right around that 2% margin, with wholesale probably running slightly higher in margin as a business channel versus a retail platform,” Harder said. “I think we can look forward as an industry to having some pretty favorable margins for the first and second quarters.

Critical Analysis: 1st Constitution Bancorp (FCCY) versus United Community Bancorp (UCBA)

United Community Bancorp Company Profile

United Community Bancorp operates as the bank holding company for United Community Bank that provides various banking products and services to consumers and businesses in Southeastern Indiana. Its deposit products include noninterest-bearing demand accounts, including checking accounts; interest-bearing accounts, such as interest-bearing checking and money market accounts; regular savings accounts; and certificates of deposit, as well as municipal deposits. The company also provides one-to four-family residential real estate, multi-family real estate, nonresidential real estate and land, construction, agricultural, and commercial loans, as well as consumer loans comprising home equity loans and lines of credit, loans secured by savings accounts or certificates of deposit, new farm and garden equipment loans, new and used automobiles loans, recreational vehicle loans, and secured and unsecured personal loans. It operates through five branches located in Dearborn County and three branches located in adjacent Ripley County in Indiana. The company was founded in 1999 and is headquartered in Lawrenceburg, Indiana.

My deceased father has a reverse mortgage - the amount owed is less than the value of the property?

I would like to take out a mortgage to repay reverse mortgage. Do I have to take out mortgage for value property or just what's owed on the reverse mortgage? I'm 1 of 3 heirs and we are to divide the assets equally. But the only asset is the house.

You would need to pay off all liens on the property, before you can transfer it into your names. A mortgage is a lien.