Bruce Simmons - January 21, 2020
Effective January 1, 2020, FHA increased the Maximum Claim Amount (MCA) from $726,525 to $765,600. ..
Bruce Simmons - October 22, 2019
With FHA just recently announcing they are making the “Collateral Risk Assessment” program permanent, I thought this would be good time to talk about the
appraisal process. ..
Bruce Simmons - September 16, 2019
When a homeowner applies for a “forward” mortgage, the lender will want to check their credit to make sure the borrowers have good credit scores.
They will also check their income to make sure they can afford the payment. ..
Bruce Simmons - July 11, 2019
An FHA insured reverse mortgage is called a Home Equity Conversion Mortgage, (HECM). They have numerous safeguards built in to the process as well
as a few that have been added over the years. ..
Bruce Simmons - April 11, 2019
CRMP stands for Certified Reverse Mortgage Professional.
A CRMP is a mortgage professional who has made a long-term commitment to use his or her experience and knowledge to serve older homeowners and is the
highest designation a reverse mortgage professional can earn.
Bruce Simmons - April 09, 2019
A couple of weeks back I attended the Western Reginal Meeting for the National Reverse Mortgage Lenders Association (NRMLA) in California. ..
Bruce Simmons - March 15, 2019
When I am asked what it costs to get a reverse mortgage, I answer with my most common response: It depends. ..
Bruce Simmons - March 11, 2019
I often say that obtaining a reverse is a process. This is because there are a number of steps involved and in this article I want to lay them our
for you so you know exactly what to expect. ..
Bruce Simmons - March 08, 2019
“Would the Line of Credit ultimately be larger if opened earlier rather than later? We can further explore this question with a more realistic example.” ..
Bruce Simmons - January 16, 2019
Most people don’t know that there are actually two different interest rates when it comes to reverse mortgages. ..