Could Reverse Mortgage Opportunity Be Found in the Least Obvious Places?

California, Texas and New York continue as specific strongholds for reverse mortgages relative to other states, but several unsuspecting regions have also emerged over the course of the past month, according to a report today from Reverse Market Insight. 

Kansas City, Missouri has grown the most in reverse mortgage volume year over year, displacing St. George, Utah, which formerly held the top growth spot. Other areas of growth include Nashville, Tennessee, Riverside, California and Jamaica, New York. 

However, there have also been several less expected growth regions including Metairie, Louisiana; Pensacola, Florida; Knoxville, Tennessee; and Amarillo, Texas; RMI writes, which all buck the downward trend seen in most regions across the U.S. 



Source: Reverse Market Insight. 

While there is opportunity in picking up market share left by MetLife, the report advises, there may also be more growth in some of the less obvious regions around the country. 

View the RMI report

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  • Wow, have things really gotten this bad?  Analyzing endorsement trends is an interesting exercise as to understanding how the industry is doing but as to planning for marketing, the information is more history than current market insight.      

    While lenders can afford to chase loans nationally, NRMLS licensed originators find that a little more difficult.  While there are few US cities the size of San Jose, California (the third largest in CA and tenth largest in the US) there are far more the size of Riverside, CA (the 12th largest in CA and 59th, in the US).

    Population wise, even Broken Arrow, Oklahoma is larger than St. George, Utah.  Trying to allocate marketing dollars in this attenuating market seems less than rewarding than ever before in the last 30 months (purely, the Obama Administration).  

    Yes, revenues per loan have never been better but in large part that has to do with the lack of exploring secondary market opportunities prior to the negotiations by Congress during the HERA legislation.  Our collective managements are more prone to deal with risks than opening doors into the secondary market.  If it had not been for HERA, we would still be selling to Fannie Mae. 

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