Wholesale HECM endorsements fell slightly in March, with third-party originations by non-FHA originators gaining steam, according to a recent report from Reverse Market Insight. While wholesale saw a 0.7% drop, retail endorsements gained 10.8% during the month. RMI has tracked the declining number of originators in the industry for some time, but the TPO originations by [...]

An industry call this week provided some insight into progress lenders made by lenders in working with HECM borrowers behind on their taxes and insurance payments, as well as an update on the status of the ”financial assessment” the Department of Housing and Urban Development plans to introduce to prevent future occurrences. During the call, representatives [...]

Baby Boomers remain a growing demographic when it comes to online users and social media fanatics, with nearly 60% more 55+ Facebook users just since last year, according to iStrategy Labs. While the reverse mortgage industry is admittedly a little slow to occupy the online space, some companies are beginning to make full use of [...]

The Department of Housing and Urban Development restrictions against cross selling products with reverse mortgages is ”extremely open ended and vague” according to Jeff Lewis, Chairman of Generation Mortgage. Lewis told National Mortgage News he doesn’t expect to see any sort of rule from HUD since the agency has no authority over insurance or securities firms.

A reverse-mortgage focused article, “Reverse Mortgagers See Rising Need, Old Fears,” in online financial publication The Street discusses the increasing need of reverse mortgages for those in the “sandwich generation,” and offers a strong defense from Generation Mortgage‘s Jeffery Lewis. Presenting reverse mortgages as an option for older people who don’t have the retirement income they [...]

During testimony before the House subcommittee last week, David Stevens, FHA Commissioner, said bringing private capital back into the mortgage markets is a critical component to further recovery of the broader economy. “This administration believes that the current level of government support for housing finance is unsustainable and unacceptable for the permanent state of this [...]