Approved Reverse Mortgage Lenders Massachusetts

The Commonwealth of Massachusetts Division of Banks has approved 3 lenders to offer the new HECM Saver reverse mortgage product in the state. Approved lenders who have submitted full documentation and have received approval to offer the product to senior homeowners are Genworth Financial, Generation Mortgage and a third lender with very few outlets in MA.

According to the office of the Commissioner of Banks, MetLife Bank and Bank of America are the only lenders to continue to wait for approval. Given BofA’s announcement last week to exit the reverse mortgage business immediately, approval for them is a moot point.

HECM Saver offers significantly reduced fees to homeowners 62-years and older interested in the HUD Home Equity Conversion Mortgage program.

Their "comparison" is pitiful

2009-08-26 10:21:34 by boogityboogityboo

No opportunity cost. No residual value. Most online calculators at least cover those. Then there's the apples-to-oranges comparison that they use. Obvious mis-education.
"Editor's Note: The metro areas were ranked based on the annual cost of owning compared to renting. The own/rent ratio represents the annual cost of owning as a percentage of the annual cost of renting. The lower the ratio, the more favorable owning is over renting and in any metro with a ratio below 100%, it's cheaper to own than rent. To make a fair comparison between owning and renting, annual ownership costs were calculated based on a loan of 100% of the purchase price

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Reverse Mortgages Woburn, MA
Reverse Mortgages Woburn, MA

Hoenig Says Volcker May Spur Efforts to Split Biggest Banks  — Businessweek
Restoring that separation could help reverse an evolution that has seen the five largest U.S. financial companies increase their share of industry assets to 55 percent from 20 percent, Hoenig, 67, said in the speech at the Institute of International ..

Fed Weighs Reserves-Rate Cut After Repo Fix to Show Easing Stays  — San Francisco Chronicle
Holdings in money market mutual funds total about $2.7 trillion, according to research firm iMoneyNet in Westborough, Massachusetts.

Atlantic Publishing Company The Complete Guide to Becoming a Successful Mortgage Broker: Insider Secrets You Need to Know
Book (Atlantic Publishing Company)

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