Comments on: Claims, Subsidies and Forecasts – Oh My! http://www.rminsight.net/reverseiq-newsletter/2009/08/claims-subsidies-and-forecasts-oh-my/ Reverse Mortgage Statistics and Analysis Mon, 08 Aug 2011 15:56:48 +0000 hourly 1 http://wordpress.org/?v=3.1.1 By: Michael Pinter http://www.rminsight.net/reverseiq-newsletter/2009/08/claims-subsidies-and-forecasts-oh-my/comment-page-1/#comment-147 Michael Pinter Tue, 18 Aug 2009 17:59:10 +0000 http://rminsight.net/?p=652#comment-147 Great Piece, Best I've seen from you guys so far. You are absolutely correct; There is no way to accurately forecast anything and certainly not the losses for loans with unkown durations and unknown property values at the time of termination. Great Piece, Best I’ve seen from you guys so far. You are absolutely correct; There is no way to accurately forecast anything and certainly not the losses for loans with unkown durations and unknown property values at the time of termination.

]]> By: Abel Torres http://www.rminsight.net/reverseiq-newsletter/2009/08/claims-subsidies-and-forecasts-oh-my/comment-page-1/#comment-146 Abel Torres Tue, 18 Aug 2009 17:58:33 +0000 http://rminsight.net/?p=652#comment-146 Good points!! As I have indicated over at Reverse Mortgage Daily before: http://reversemortgagedaily.com/2009/08/12/senate-appropriations-bill-includes-more-reverse-mortgage-provisions/ and here http://reversemortgagedaily.com/2009/05/07/obama-administration-requests-798-million-to-aid-reverse-mortgage-program/ your article is right on track. First is to realize that the HECM is a long term program which was designed to be a break even exercise over the long term. The changes in the law, have shifted the way the program is looked at by the governenment, at a yearly fical basis, which it wasnt designed to be. Educating our political figures on the long term approach of the HECM program may help with the issue of tighter tolerances in my opinion. Your comments about having our political and regulatory stakeholders in synch with the industry is very important. This is particularly true when our industry is negotiating with the lobbying powers and our political figures. Sometimes a small change in the fine print can produce unexpected negative consequences. So every item on a bill about our industry must be considered very very carefully. Thank you for sharing an updated presentation by Szyminoski (I had the presentation he gave in Chile) which is excellent. We need our industry to be educated about how the HECM insurance program works before we ask for changes and this type of presentations provide good sources of knowlege. Thanks for the article Abel Torres Good points!!

As I have indicated over at Reverse Mortgage Daily before:

http://reversemortgagedaily.com/2009/08/12/senate-appropriations-bill-includes-more-reverse-mortgage-provisions/

and here

http://reversemortgagedaily.com/2009/05/07/obama-administration-requests-798-million-to-aid-reverse-mortgage-program/

your article is right on track. First is to realize that the HECM is a long term program which was designed to be a break even exercise over the long term. The changes in the law, have shifted the way the program is looked at by the governenment, at a yearly fical basis, which it wasnt designed to be. Educating our political figures on the long term approach of the HECM program may help with the issue of tighter tolerances in my opinion.

Your comments about having our political and regulatory stakeholders in synch with the industry is very important. This is particularly true when our industry is negotiating with the lobbying powers and our political figures. Sometimes a small change in the fine print can produce unexpected negative consequences. So every item on a bill about our industry must be considered very very carefully.

Thank you for sharing an updated presentation by Szyminoski (I had the presentation he gave in Chile) which is excellent. We need our industry to be educated about how the HECM insurance program works before we ask for changes and this type of presentations provide good sources of knowlege.

Thanks for the article

Abel Torres

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