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  Guide to Master Follow-up The key to success does not have to be complicated, however, it does require a dedication to maximize your investment. The nature of the reverse mortgage business makes it imperative to have a follow-up system. This ebook was written specifically to help you understand the importance and methodology of follow-up. . . . keep reading Accomplishing Anything You Want If you have the right plan you can accomplish anthing you want. . . . keep reading Seminar Marketing -- A different approach Maintaining cost controls are important to get your maximum return on your investment. A typical seminar can cost at least $5,000.00, including the mailing, food, event location, personnel etc.. By changing your "seminar approach" you can save money and still provide a tremendous service for your future senior clients will grealty appreciate. . . . keep reading Have You Made Your New Year's Resolution? It won't be long now. In a couple more days we will turn over the chapter on 2008 and head into a new beginning in 2009. This year has been challenging for all facets of the financial world. . . . keep reading HUD Purchase Training for HECM Counselors HUD developed this short power point presentation for HUD counselors regarding the new HECM Purchase Program. . . . keep reading Home Equity Conversion Mortgage Handbook HUD handbook for lenders goes into detail different aspects of a reverse mortgage. This handbook is broken into chapters to help guide you through the process. . . . keep reading MORTGAGEE LETTER 2008-39 TO: ALL APPROVED MORTGAGEES ALL FHA ROSTER APPRAISERS SUBJECT: Revised Eligibility Requirements for FHA Roster Appraisers . . . keep reading ATTENTION: SINGLE FAMILY SERVICING MANAGERS MORTGAGEE LETTER 2008-38 . . . keep reading SUBJECT: Home Equity Conversion Mortgages (HECMs) -- Clarification regarding borrower's recourse for repayment of HECM loan debt and termination of a HECM mortgage The purpose of this Mortgagee Letter is to provide a policy clarification regarding the requirements for repayment of Home Equity Conversion Mortgages (HECMs) and for termination of a HECM mortgage. . . . keep reading HUD Develops HECM Q&A Page HUD has initiated a new Q & A Portion in their web site to answer questions. The most recent deals with clarification of HECM purchases, Mortgage Limits and Origination. Also, included is a link to all the most recent mortgage letters. . . . keep reading 2009 FHA Maximum Mortgage Limits Home Equity Conversion Mortgages: Under the authority contained in HERA, the national mortgage limit for all Home Equity Conversion Mortgages (HECMs) insured under Section 255 of the National Housing Act, will be set in conformance with Section 305(a)(2) of the Federal Housing Loan Corporation Act (12 U.S.C. 1454(a)(2)). For all HECMs insured on or after November 6, 2008, the national mortgage dollar amount limit will be the national conforming limit for Freddie Mac of $417,000. . . . keep reading HUD Issues Two New Mortagee Letters HUD has issued two new mortgagee letters, explaining the maximum loan limits and new HECM origination fee limits. . . . keep reading HECM for Purchases Mortgagee Letter Announced by HUD 08-33 Today HUD published Mortgagee Letter 08-33 which establishes the HECM for purchase program. FHA insured HECMs can now be used to purchase a principle residence (1- to 4-family dwelling unit) with the loan proceeds as long as the FHA case number is assigned on or after January 1, 2009. . . . keep reading New Loan Limits Some Lenders Are Taking New Applications, Reflecting New Loan Limits . . . keep reading 2008- A 4.3% Increase for Reverse Mortgages Interestingly enough the number of reverse mortgage program actually grew in the middle of the worst mortgage meltdown seen in decades. . . . keep reading HECM limits go to $417,000 Target date of 11/01/08. Brian Montgomery, FHA Commissioner, just announced the new HECM loan limit would be $417,000.00 across the board target date 11/01/2008. . . . keep reading Prohibition on Mortgagee Funded Home Equity Conversion Mortgage (HECM) Counseling Prohibition on Mortgagee Funded Home Equity Conversion Mortgage (HECM) Counseling . . . keep reading Are You Getting New Business from Old Business? Can you believe nearly 50% of your clients will offer referrals if you would only ask. But . . . keep reading A $700 Billion Bailout is Urged By the President! The Bush administration Saturday sent Congress a $700 billion plan to purchase bad mortgage debt from financial institutions in a bid to confront the worst U.S. financial crisis since the Great Depression.... . . . keep reading Are you able to make sense of the Financial Crisis? With uncertainty is fear. Obviously, the lack of understanding and the unknown it brings is reason for trepedation. So what really has happened to cause the shakeup in the financial world? . . . keep reading More