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Retail Begins Rebound, Some Lenders See Triple-Digit Reverse Mortgage Growth

While reverse mortgage volume year-over-year is down substantially from 2011, endorsements were up 7.1% in August with several lenders counting big gains on an individual basis. 

Retail in particular saw the lion’s share of the gains and several lenders are counting 2012 as a triple-digit growth year, writes Reverse Market Insight in a report this week. 

The trend for some lenders is in strong contrast to the industry’s performance on the whole, which is down year-over-year and which many have forecast could be the lowest year for volume in recent memory. 


Source: Reverse Market Insight

Noting the growth rates of several lenders in August and year-over-year, RMI points to American Advisors Group, which has seen a 107% gain year to date, more than doubling volume over July; Genworth Financial Home Equity Access, which is up 146% year to date and Security One Lending, seeing a 129% rise over the same time period. 

Other lenders also posted strong gains, according to the RMI report, with iReverse seeing an 89% increase over July, and “up-and-comers” Cherry Creek, GMFS and Maverick Funding representing growth stories. 

 View the RMI report

Written by Elizabeth Ecker