AAG Sends Lucky ‘Bucket List’ Borrower to Meet Tom Selleck

American Advisors Group (AAG) is choosing select customers to check some remaining items off of seniors’ “bucket lists,” or things they wish to experience in life while they’re able. For one AAG reverse mortgage customer, this included getting a “red carpet treatment” to observe the production of the latest AAG commercial featuring spokesman Tom Selleck […]

Canada’s Top Reverse Mortgage Lender Targets Veterans Through New Partnership

Toronto-based HomeEquity Bank (HEB), the leading provider of reverse mortgages in Canada, has partnered with domestic veterans organization the Royal Canadian Legion to extend special offers to the country’s veterans who are seeking to supplement their income through the use of a reverse mortgage loan. Previously, HomeEquity Bank engaged in a partnership with another domestic […]

Harvard: Home Equity Returning to Pre-Crisis Levels, Housing Stock Lags

Primarily caused by rising home prices and modest increases in mortgage debt, the aggregate value of home equity more than doubled in the years between 2011 and 2018. This is according to the 2019 edition of the State of the Nation’s Housing report from the Harvard Joint Center for Housing Studies (JCHS), released on Tuesday. […]

Zillow: Housing Market Continues Cooling

The sale and rental housing markets continued to move in divergent directions in the month of May, with home value growth rates slowing and potentially flattening while rent growth rates indicated a modest acceleration after a couple of consecutive declines. Both of these indicators are signs of a housing market that is beginning to normalize […]

New Interest Rate Data Could Signal Reverse Mortgage ‘Economic Gift’

Recent changes in long-term metrics could indicate that the reverse mortgage market is charting a path for borrowers toward higher loan proceeds. This is according to data compiled and provided to RMD by industry expert and VP of Organizational Development at Finance of America Reverse Dan Hultquist. “Many in the reverse mortgage industry focus on […]

Senior Housing Wealth Reaches New High of $7.14 Trillion

Homeowners age 62 and older saw their collective housing wealth increase in Q1 2019 by 2.7 percent compared to the previous quarter. This constitutes an increase of approximately $104 billion to a record of $7.14 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. […]

Gallup: More Non-Retired Americans Expect Retirement Comfort, Despite Lack of Savings

Constituting a near-record high, 57 percent of non-retired Americans expect their retirements to be comfortable after having saved enough money to adequately support expenses and lifestyle choices, according to a poll conducted by Gallup in April of this year. This is the highest recorded figure for this expectation from the longstanding polling organization since 2004. […]

Equity Tapping Company Partners With 8 of Top 10 Reverse Mortgage Companies

While most new equity-tapping companies view reverse mortgage lenders as competition, one company is taking a very different approach by partnering with them directly. EasyKnock, based in New York City and last month the recipient of $215 million in investment funding, says it has partnered with eight of the top 10 reverse mortgage lenders on […]

April Wholesale Growth Outpaces Retail Reverse Mortgage Endorsements

Home Equity Conversion Mortgage (HECM) endorsements saw rise of 12.7 percent in April, hitting a threshold of 2,899 loans according to the latest data from Reverse Market Insight (RMI). Interestingly, while retail endorsement growth experienced a hike of 6.5 percent that month, wholesale growth easily outstripped it by growing at a rate of 21.2 percent. […]

Data Confirms Reverse Mortgage Borrowers Have Little Wealth Outside Home

According to recent research data, despite some of today’s reverse mortgage efforts targeted toward a population that is using home equity as a comprehensive planning tool, the borrower demographic of the past still holds true: borrowers of Home Equity Conversion Mortgages (HECMs) are made up of a major segment of primarily low-income individuals with little […]