Insight into Reverse Mtg. deals, please

[xmtpedprl]

Wade,

You said:

"Its better to do SOMETHING, than nothing at all."

THANK YOU!!

Dave...

 

[Tudor]

I sometimes want to do nasty things, but thoughts of mortgage brokers are never involved.


.

Sup?

 

[WadeKoutnik]

Sup?

LMFAO........

 

[PropertyEconomics]

Sup?

Trying to put the moves on a fellow poster ... for heavens sakes ....

 

[Kevin Mc]

Your points are understood, and have been for, well, since the day I arrived. MY point is that you don't even see that I understand your point.

Dave you rarely give us any indication you understand the points presented to you. I agree with the others (not that it is any secret). You insist on dealing with the dregs, such is your plan. Many of us don't. I don't want to hear there are no other options, there are, you just don't view them as such. If you insist on getting volume to feed the beast you have created (multiple offices, multiple states) fine. You will be working for AMCs and scumbag MBs to fill the numbers. It is your plan. Either get with the business of dealing with it and save the venting, or cut them loose, close a few offices and deal with the decent clients you have left. Many of us don't rail against the bad guys all day long because we don't deal with them.

 

[xmtpedprl]

McNamara,

NOR SHOULD YOU HAVE TO, NOR SHOULD I. THAT'S THE WHOLE POINT.

Do you even remotely understand the simplicity of that sentence...?

Let's see.

Dave..

 

[Hamlet]

It seems to me that those that are truly concerned with cleaning up the industry would work with law enforecement and not pander to the problem. Now is the time...people are listening.

 

[PropertyEconomics]

McNamara,

NOR SHOULD YOU HAVE TO, NOR SHOULD I. THAT'S THE WHOLE POINT.

Do you even remotely understand the simplicity of that sentence...?

Let's see.

Dave..

Dave .. with all due respect you missed the point .. HE DOESNT ... YOU DO and then do a dance to convert them, and then become enraged when the dance doesnt work.
See how simple it is .. HE DOESNT !

 

[TJSum]

How do these Reverse Mortgages work in a declining market. Won't many that were written near the peak of the market run out of equity much quicker than planned? Do the lenders monitor how much equity is left with an AVM, like they do with HELOC's. What happens to the loan if the declining market eats up all the "available" equity?

 

[xmtpedprl]

HAH!!!

Yeah, if it here's like MASSIVE fraud involved, sure, but these case by case small fry deals, no way. No one is interested at this level, so my thought is to snag as many as possible, keep as many bad guys away from as many deals as possible, and tender ethical & competent reports, REGARDLESS OF WHO IS DOING THE ORDERING.

As for McNamara's 'magic clients?' Good for him, but the fact of the mater is I don't have as many of those as he does, we have to make hay whatever honest way we can, and so I do. And doing so does NOT preclude me from venting about it, it doesn't mean I've lost the RIGHT to hate it as much as the next guy, in fact, despite what the usual suspects think many here are quite pleased with my honesty and frustration, as SO MANY here are experiencing the same thing.

Dave...