Comments for Reverse mortgage compliance challenge looms for banks (June 24, 2009) at http://www.ababj.com , comment 0 to 2 out of 2 comments http://www.ababj.com Thu, 23 May 2013 00:19:35 +0100 FeedCreator 1.7.2 http://www.ababj.com/briefing/reverse-mortgage-compliance-challenge-looms-for-banks.html#pc_29 Editor's response: Good catch, Brent! Our mistake. We've corrected the article accordingly. - Editor Mon, 29 Jun 2009 17:04:39 +0100 http://www.ababj.com/briefing/reverse-mortgage-compliance-challenge-looms-for-banks.html#pc_28 I am shocked whenever I see misstatements from supposed experts like "At the end of the arrangement, the home belongs to the lender." While this may have been true in the early days of reverse mortgages over 30 years ago, for the past several decades title to homes which secure HECMs remain in the name of the borrowers and it is highly likely that the home and all of the remaining equity will pass to the borrower's heirs. The exception would be if the borrower lives significantly longer than actuarial projections and the loan balance exceeds the value of the home at the time of their death. - Brent Warren Mon, 29 Jun 2009 11:37:41 +0100