Reverse mortgage lenders endorsed 6,645 HECM units during August, up 12.6% from July.  It’s the third consecutive month over month increase in volume and signals things could be turning around after an extremely challenging first half of 2010.
Overall volume for 2010 is still down 37.7% from the same period last year, but individual lender performance [...]

Data from the 2009 American Housing Survey (AHS) shows that while the number of people using reverse mortgages has increased dramatically, there is still plenty of opportunity for growth.
Conducted by the US Census Bureau for the Department of Housing and Urban Development (HUD), the survey data shows that the number of homeowners using reverse mortgages [...]

As part of the Department of Housing and Urban Development’s new HECM Counseling protocols, counselors are required to use the new Financial Interview Tool to help prospective borrowers consider the immediate financial needs and long-term challenges that can make it hard to stay at home and benefit from a reverse mortgage.
The tool includes a serious of [...]

Reverse mortgage lenders endorsed 5,901units during July, up 11% from June and the second month over month increase in volume.
Overall volume for 2010 is still down 39% from the same period last year, but endorsements are starting to catch up to the increase in applications the industry has seen since March. As the number of applications continues to rise, things [...]

The latest in our Chart of the Day series comes from Reverse Market Insight and shows how younger borrowers are turning to the HECM fixed product more than the adjustable rate reverse mortgages.
According to RMI, the average age for adjustable rate borrowers was 73.6 compared to 71.7 for fixed rate borrowers in 2009.  With younger borrowers withdrawing [...]

Reverse Market Insight beat us to the punch with this one.  During the National Reverse Mortgage Lenders Association’s road show last week, John Nixon, an executive at Bank of America said 62 year olds were the most common among recent reverse mortgage borrowers and I was a bit stunned.
According to RMI, the average age for borrowers [...]

Wholesale reverse mortgage volume was down 25.8% during May, marking the fourth consecutive month over month decline according to data from Reverse Market Insight.
May volume was the lowest in five years and brokers bore the brunt of declining volumes with only 2,058 units says RMI.