How the Pandemic Has Changed Reverse Mortgage Business Priorities, Dynamics

Characterizing the heightened reverse mortgage business activity which is taking place during the pandemic is not universal to every region or professional in the country, but taking a look at measurements of business volume – including Home Equity Conversion Mortgage (HECM) endorsement data and HECM-backed Securities (HMBS) issuance – does indicate that the business has […]

The Street: Financial Advisor Talks Discovering Reverse Mortgage Benefits

Product education is a major focus of reverse mortgage companies, and a major focus of the industry’s educational efforts in recent years has been focused on the financial advisor community. When advisors have an aversion to the product category, it’s the industry’s hope that additional information about reverse mortgages can help them to “come around” […]

Liberty Parent Touts ‘Very Profitable’ Reverse Mortgage Business as Fortunes Improve

Ocwen Financial Corporation (NYSE: OCN), parent company of top 5 reverse mortgage lender Liberty Reverse Mortgage, announced in an earnings call on Tuesday that it has posted its fourth consecutive quarter of positive adjusted pretax income as it has aggressively sought to return to profitability. In the midst of that announcement, the company also touted […]

FHA Extends Relief for Reverse Mortgage Borrowers in Pandemic to End of 2020

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) are extending previous relief provisions which involved instructing servicers of Home Equity Conversion Mortgages (HECMs) to delay due and payable requests on reverse mortgage loans for borrowers that request such relief, since an American at risk of losing his or […]

Bankrate: Expert Talks Reverse Mortgage Safety, Value of Refinancing

As more seniors continue to try and find new ways to make financial ends meet during the ongoing COVID-19 coronavirus pandemic, some may naturally turn to new types of products or services for them, which can include reverse mortgages. Nevertheless, some seniors still remain apprehensive about the product category, which has spurred online personal finance […]

The RMD Podcast #17: Christina Harmes Hika, Loan Originator at C2 Reverse

The RMD Podcast returns to talk about the “new normal” origination environment with Christina Harmes Hika, reverse mortgage loan originator with C2 Reverse in San Diego, Calif. The ongoing effects of the COVID-19 pandemic have the chance to change the reverse mortgage industry forever, and Christina describes for RMD Editor Chris Clow how she has […]

September Reverse Mortgage Volume Remains High, Securities Issuance Logs Another ‘Banner Month’

Home Equity Conversion Mortgage (HECM) endorsements remained relatively stable at recently-high levels in September of 2020, recording a drop of only 1.75% to 3,937 loans. This marks the first time since May that HECM volume fell below 4,000 loans, but still remains well above numbers observed between January and April of this year according to […]

Senior Housing Wealth Hits New Record High of $7.70 Trillion in Q2 2020

Homeowners aged 62 and older saw their collective housing wealth increase in Q2 2020 by 1.8% compared to the previous quarter. This constitutes an increase of approximately $134 billion to a record of $7.70 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]

FAR Enters Into Educational Program With Stanford Center on Longevity

Finance of America Reverse (FAR) announced on Thursday that it has entered into an educational program with Stanford University research arm the Stanford Center on Longevity (SCL), an organization designed to foster thinking and action on issues related to longer life by pooling the resources of academic, business, government and nonprofit leaders. FAR has joined […]