Review Mortgage Lenders

1st Reverse Mortgage

1st Reverse Mortgage

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

Cherry Creek Mortgage LOs learn HECMs to grow business

“My goal is to grow the business of each loan officer at Cherry Creek by 15-25%,” said Dan Harder, vice president at 1st Reverse Mortgage USA.

“Some of our forward loan officers are down 20-30%,” Harder said. “What we’re doing is helping them grow their business by developing a business strategy that includes adding reverses to their platform.”

Harder said he believes that eventually all forward LOs will also originate reverse mortgages.

“I happen to believe that every loan officer on the traditional side in the next two to three years will be proficient in doing reverse mortgages,” Harder said. “I believe by the end of 2021, there will be mostly forward people doing reverse loans, just because of the sheer reduction in both the reverse and forward business and all of the consolidation.”

Harder acknowledged that lots of lenders are pushing reverse education on their forward LOs, but says there is a distinct way to go about this to achieve success.

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

Baseline President Dan Ribler said the fact that margins are holding steady indicates that reverse mortgage lenders have adapted in the wake of program changes issued last year.

Immediately following those changes, the industry saw margins swing drastically as lenders struggled to find a new balance that would allow them to remain profitable and still be competitive under the new rules.

In July, margins averaged 2.54% before declining steadily, hovering in the 2% range for the last several months.

“We continue to see stabilization around the 2% margin as the market appears to have found its competitive footing,” Ribler said.

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.

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.

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