Release Date:- 2008-05-01
Availability:- In Stock
Kind:- ebook
At the first Mortgage Bankers Association (MBA) Reverse Mortgage Lending Conference, held in San Diego in April, one speaker said the specialty segment is seeking to avoid "the subprime shakeout." Joseph Bates, director of the Federal Housing Administration's (FHA's) Santa Ana Home Ownership Center in Santa Ana, California, said: "We want to make sure we have our rules, our standards of conduct, and that we keep this product as clean and as helpful and as useful as it can be." Bates acknowledged the coming age surge that will make reverse mortgages even more prominent. "The baby boomers are starting to move into that senior bracket, and when that demographic moves in, bar the door--because they are much less credit-risk-averse than their predecessors. The [reverse-mortgage] program can only grow," he said.
