Reverse mortgage originators have long heralded the benefits of reverse mortgage options for some prospects relative to home equity lines of credit (HELOCs). Yet recent changes in the home equity lending environment have brought this comparison back to the forefront, and some originators are receiving even more inquiries due to individuals who are interested in […]
It’s becoming a familiar 2020 mantra: These are unprecedented times. The coronavirus pandemic has thrown the world into a tailspin, and there’s no clear end in sight. It has affected nearly every industry and institution on the planet, including the reverse mortgage industry. While originators are reporting a spike in borrower interest over the last […]
While lenders have reported an increase in general interest around reverse mortgages during the COVID-19 pandemic, both from prospective borrowers and financial planning professionals, several factors are also leading to an increase in refinances of existing reverse mortgages at the same time. Given the pre-pandemic climate and subsequent economic downturn, the market has seen an […]
With retirement portfolios taking a hit due to market losses during the global COVID-19 pandemic, reverse mortgages have recently been touted even more among financial professionals as a viable option. And originators say they are seeing an increase in inquiries as a result, as well as contact directly from the financial planning community, who are […]
In February 2018, Denver, Colorado, snagged the number 2 spot on LendingTree’s list of cities with the highest usage rates of reverse mortgages. The demand for Home Equity Conversion Mortgages (HECMs) was so high, in fact, that the Denver Business Journal speculated that it could have contributed to the city’s low inventory of available properties […]
Last August, the Mid-Atlantic region of the country outpaced all other regions in loan originations with a 28.2 percent increase in growth over the previous month, according to Reverse Market Insight. But have originators throughout the area continued to build on that momentum? Regional Stats: Total Mid-Atlantic Population: 57.3 million (U.S. Census)Senior Population (Ages 65 […]
Sure, everything is bigger in Texas. But is the state on track to becoming the largest reverse mortgage market in the country? Absolutely, says Scott Norman, vice president of field retail and government relations at Finance of America Reverse, LLC, in Austin. He predicts that Texas will lead the industry by 2030. Regional Stats: Total […]
Last October, New England saw a 34 percent increase in reverse mortgage growth, according to data analytics firm Reverse Market Insight. This growth positioned the region in the top spot, followed by the Southwest, which saw a 29 percent increase. So what are they doing right in New England? Regional Stats:Total New England Population: 14,810,001 […]
One year ago, two U.S. cities saw significant year-over-year growth far outpacing the national loan volume average, according to 2018 data from Reverse Market Insight. Have those two cities – Portland, Ore., and Seattle – slowed down since? And what’s the market like in the rest of the Pacific Northwest region? The answer is: It’s […]
Florida remains the retiree capital of the United States. No personal income tax, warm weather and plenty of sunshine drew nearly 78,000 retirees to the state in 2015 alone, according to the most recent U.S. Census migration data. That’s 50,000 more retirees than Arizona, the second state on the list. Regional Stats:Total FL Population: 21.3 […]
