Posted by eXpedN_TX on 3/18/06 1:28pm
Msg #106582

Was doing some Reverse Mortgage studying...

and found this great quiz.

http://www.reverse-mortgage-information.org/reverse-mortgage-questions/

Just thought I would share. If you are unsure about an answer let me know, somehow I got all 15 right. Good luck!

Reply by Brenda Stone on 3/18/06 1:30pm
Msg #106587

Great resource!

Reply by TitleGalCA on 3/18/06 2:31pm
Msg #106607

That was interesting. I passed (but barely) and have never done a reverse mortgage. Time to go over the info I have and what's available on the board.

Reply by BrendaTx on 3/18/06 2:58pm
Msg #106621

Re: Was doing some Reverse Mortgage studying...TG

From a title company's perspective, why is it, do you think that many tc's do not do rev morts?

I wonder if it is difficulty or if it is licensing, or price, special knowledge, etc.

Reply by TitleGalCA on 3/18/06 4:08pm
Msg #106641

Re: Was doing some Reverse Mortgage studying...TG

Actually, I don't know, but I'll find out.

Do you mean insure rev morts? I think that would be the simple part - it should be just like insuring a valid lien for any lender, I would think. As far as the sign up goes, my guess would be that if TC's weren't doing them (the sign up) it may mean they don't feel comfortable with them.

I'll get back to you!

Reply by BrendaTx on 3/18/06 4:11pm
Msg #106643

Re: Was doing some Reverse Mortgage studying...TG

I think you would be a better judge of what I mean. From my perspective - the avg tc does not give me work on rev morts.

I only know of a very few. Lots of lenders are out there, but have trouble locating the TCs who are getting into rev morts.

BTW - I'll trade them out with anyone not in my business within 100 miles of me who is not a signing service.