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Jack M. Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. More

Recent Articles

Introducing the Kosher HECM Reverse Mortgage

his article describes the feaatures of a HECXM reverse mortgage designed to meet the needs of seniors by overcoming complexity and conflicts of interest. Read Article

How to Eliminate Third Party Settlement Costs

This article argues that the price of third party settlement costs would drop like a rock if lenders had to purchase them and include the price in the price of the loan. Read Article

Instead of Scrapping Fannie and Freddie, Lets Use Them to Make a Better Primary Market

This article sets out the case for retaining Fannie and Freddie for the [purpose of improving the primary market, which they could do in a number of ways that include the elimination of third party settlement costs. Read Article

Conventional Versus FHA: Which Do You Choose?

This article compares the complete costs of FHA versus conventional mortgages over periods of 5, 10 and 15 yeaars, for loan amounts of $200,000, $400,000 and $600,000. Read Article

The Transition to Double-Digit Mortgage Interest Rates

An interest rate spike that catches mortgage applicants in process who have not yet locked will be a major blow to reverse mortgage applicants, because few of them are locked and fewer still are aware of this risk. Read Article

What Are "No-Cost Mortgages", and Are They a Good Deal?

No-cost mortgages are those on which the lender pays all or most of the upfront costs in exchange for a higher interest rate. They may be a good deal for borrowers with short time horizons, and may be relatively simple to shop for. Read Article

The Easy Way and the Hard Way to Get a Mortgage: The Hard Way Is Better

Managing the mortgage process yourself, as opposed to leaving it in the hands of a loan originator, can be an investment with a large payoff. Read Article