Wholesale origination channels saw the vast majority of reverse mortgage growth in February, with retail channels shrinking across the industry, a report today from Reverse Market Insight finds. While endorsements during the month of February were up just 5%, the number of brokered loans to wholesale lenders grew more than 15% with retail endorsements falling [...]

Despite a commonly-held thought that the baby boomer generation will need to “work forever” because of financial insecurity, an MetLife Mature Market Institute study released last week finds that boomers are actually “retiring in droves,” and an overwhelming amount indicated they want to stay in their current homes, at 83%. Many of the oldest boomers are [...]

Reverse mortgage endorsements fell 19% in March to 4,381 loans—the lowest volume since September 2005. Data released this week by the Department of Housing and Urban development indicates this is the first time endorsements have fallen below the recent bottom seen in May 2010, wrote Reverse Market Insight in its latest analysis. “It makes perfect [...]

Reverse mortgage applications rose in February to 6,795 applications, a 17% increase over January applications and marking the first uptick in applications since August 2011 according to data released this week by the Department of Housing and Urban Development. While the monthly data shows the highest level of applications in three months, year-over-year, February Home Equity [...]

Nearly one quarter of working households in the United States spends more than half of their income on housing, says a report by the Center for Housing Policy. The cost of owning a home (including mortgage and utilities) went down between 2008 to 2010, dropping 5%, but so did homeowners’ incomes, which decreased 2%—often as [...]

Reverse mortgage volume was up 4.9% in February according to the latest data from the Department of Housing and Urban Development. The 5,246 HECM loans endorsed were the highest in the last five months, but there are declines on the way according to Reverse Market Insight. “Case numbers issued tumbled -4.9% to 5,795, for the [...]