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Mortgage

Supreme Lending’s John Luddy on the ‘3 deadly sins’ of reverse mortgages

HECM, HWmember, Loan Officer, Mortgage, Reverse, Reverse Mortgage Daily, Sales Techniques /

When it comes to the process of selling a reverse mortgage, John Luddy exemplifies the clichéd phrase, “been there, done that.” After 40 years in the mortgage industry, including more than 20 in the reverse channel, there’s not much that surprises the Connecticut-based senior vice president of Supreme Lending. At last week’s Reverse Mastermind Summit […]

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HUD audit warns 1,237 reverse mortgage accounts may run out

Flood insurance, HECM, Homeowners insurance, HUD, HWmember, Mortgage, Property Tax, Reverse, Reverse Mortgage Daily /

An audit from the U.S. Department of Housing and Urban Development (HUD)’s Office of Inspector General (OIG) found that more than 1,200 reverse mortgage borrowers could exhaust funds set aside to pay property taxes and insurance years earlier than expected, potentially exposing HUD to hundreds of millions of dollars in losses. The audit, released May

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The underwriting problem crypto built: What regulators and institutions are watching

Contributors, Cryptocurrency, HWmember, Institutional investors, Mortgage, Opinion, Origination, Regulatory Compliance, Technology /

Cryptocurrency is no longer a peripheral line item in borrower financial profiles. Approximately 30% of American adults now own it. Global ownership has surpassed an estimated 500 million people. The total housing market has crossed the $1 trillion mark multiple times in recent years. These numbers mean that lenders, originators and the regulators overseeing them

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Real estate agents hope Kevin Warsh can calm roller coaster housing market

Affordability, Agent, Anthony Lamacchia, Century 21, Donald Trump, Federal Reserve, HWmember, Interest rates, Jerome Powell, Lamacchia Realty, Mortgage, Mortgage Rates, Politics, Real Estate, Real Estate Agents, Trump administration /

The Senate’s confirmation of Kevin Warsh as chairman of the Federal Reserve is already reshaping conversations across the housing industry — particularly among real estate agents watching mortgage rates, affordability and transaction volume. Warsh is set to officially succeed Jerome Powell after a contentious confirmation process held against a backdrop of elevated inflation, geopolitical instability

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The Clarity Act is coming: How real estate tokenization unlocks $40 trillion in dead equity

Congress, Contributors, Cryptocurrency, Housing Market, HWmember, Mortgage, Opinion, Real Estate, Sun West Mortgage Company /

The real estate industry is preparing for the wrong disruption. For two years, brokerages, MLSs and trade groups have been consumed by the AI conversation. What tools to buy. Which workflows to automate. How to compete with ChatGPT-native upstarts. It’s a legitimate conversation, but it isn’t the one that’s about to redefine the business. The

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Reverse mortgage originator shares sales mindset tips

American Liberty Mortgage, HECM, HWmember, Loan Officer, Mortgage, Reverse, Reverse Mortgage Daily, Sales Techniques /

At last week’s Reverse Mastermind Summit in Tennessee, Bruce Simmons of American Liberty Mortgage shared some of the secrets behind his successful career as a reverse mortgage originator. His motivational message to the audience centered around helping them answer a key question: What is my why? Simmons, who’s based in Denver, outlined three key steps

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From addiction to advocacy: How the mortgage industry gave me a second chance

Contributors, HWmember, Mortgage, Opinion, Real Estate /

Homeownership is one of the most powerful wealth-building tools this country offers, and my path into the mortgage lending industry is an unlikely story that I could not be prouder to tell. In 2006, I was a methamphetamine addict living in an abandoned house, likely due for demolition, in Akron, Ohio. I had burned practically

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Retirees counting on home equity may face financial shortfalls

Aging in Place, Baby Boomer, Gen X, Home Equity, HWmember, Mortgage, New York Times, Retirement, Reverse, Reverse Mortgage Daily /

For generations, homeownership has been one of the primary ways Americans built wealth and passed it on to loved ones. Now, financial advisers and housing experts warn that many older homeowners may be counting too heavily on their homes as retirement safety nets as they discover their properties sell for less than expected, according to

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Supreme Lending brings on $100M Lasso Lending team

Houston, HWmember, Lenders, Loan Officer, Mortgage, Origination, People Movers, Texas /

Branch manager Austin Baker and his Houston-based team, Lasso Lending, have joined Supreme Lending, bringing more than $100 million in annual loan production to Supreme’s platform. The move deepens Supreme Lending’s presence in the Houston metropolitan area, one of the nation’s most active and competitive housing markets, according to the company’s announcement. Baker entered the

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