Archive for September, 2009
The Chase Reverse Mortgage
After months of speculation, Chase is readying the launch of their reverse mortgage product, which should in theory bring more competition to the marketplace.
Chase Manhattan Bank is gearing up for a fall launch of reverse mortgages, a move that would make it one of the biggest commercial banks to get behind this new and [...]
FBI Reports Spike in Reverse Mortgage Fraud
The United States Federal Bureau of Investigation recently reported that several agencies around the country have been actively working to defraud the equity of senior citizens via a reverse mortgage.
FBI and Department of Housing and Urban Development-Office of Inspector General (HUD-OIG) reporting indicate that u nscrupulous l oan officers, mortgage companies, investors, loan counselors, appraisers, [...]