Study Examines Reverse Mortgage Lending Alongside S&P/Case-Shiller Analysis

ggf_logoBlock Golden Gateway Financial recently published an interesting analysis of reverse mortgage lending criteria alongside the most recent S&P/Case-Shiller analysis of depreciating home values.  The study shows the dynamics of how eroding home values, reverse mortgage lending limits, and age intersect to impact equity available to senior citizens.

The table below highlights Golden Gateway Financial’s findings in representative markets by both age and calendar year. The table assumes a home valued at $200,000 in January of 2007, and the cash available is computed using the CMT based HECM 150.  Golden Gateway also provides a more comprehensive table reflecting all of the markets referenced in the S&P/Case-Shiller Home Price Index which you can download here..

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To read a copy of the press release click the link below.

Golden Gateway Financial Links Depreciating Home Values to Limited Financing Options for Senior Citizens

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  • Integrated Asset Services, LLC (IAS, http://www.iasreo.com), a leader in default management and residential collateral valuation, just released its IAS360 House Price Index for May 2008. The May report, which includes the most current and granular data available in the industry, showed a -3.2% decrease in house prices on a national level from April to May, and a -20.1% decline from May 2007 to May 2008.

  • checked-out the IAS stuff… it’s median data!! (perhaps useful as a market snapshot at a moment in time, but potentially dangerous ifthe goal is to accurately measure price changes over time).

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