In case you missed it… here’s what happened in reverse mortgage news this week.
The Wall Street Journal published a reverse mortgage op-ed… Pointing to the disservice done by a previous WSJ article, the op-ed by NRMLA President and CEO Peter Bell notes an insensitive and inaccurate perspective on FHA’s reverse mortgage program participation in the previous publication.
Walter investment said FHA HECM changes shouldn’t impact loan volume. Walter, which recently purchased Reverse Mortgage Solutions, told investors the company is in support of reverse mortgage program changes and said the changes are unlikely to have an adverse impact on loan volume.
Senior home equity saw its highest uptick since 2009. Senior home equity continues to rise in 2012 with the third quarter posting the fastest quarterly gain since 2005, according to new data from the National Reverse Mortgage Lenders Association (NRMLA) and RiskSpan Reverse Mortgage Market Index (RMMI).
Home prices posted an annual gain, driving recovery in 2013. National home prices have experienced a year-over-year uptick of more than 4%, well outpacing analysts’ estimates with several metro areas seeing more than six months of consecutive gains. Read the latest from Case-Shiller.
Written by Elizabeth Ecker