American Advisors Group on Wednesday announced the hire of Ted Zepfel, a former Bank of America and Wells Fargo employee, as its vice president of operations for alternative distribution. Zepfel, who began working for the Orange, Calif.-based reverse mortgage lender in July, oversees AAG’s wholesale and national field sales divisions, including processing and underwriting. He […]

Reverse mortgage endorsement figures dropped 12.1% between June and July, continuing a pattern of monthly declines after an early-year peak. Federal Housing Administration-approved Home Equity Conversion Mortgage lenders generated 4,254 endorsements last month, according to the most recent data from Reverse Market Insight, Inc — a decline of 583 from June’s total and a drop-off […]

Monthly reverse mortgage endorsements continued to decline after a promising early spring, though most top-10 lenders had a reason to celebrate their performance in May. Home Equity Conversion Mortgage lenders turned in 4,851 total endorsements for the month, according to the most recent breakdown from Reverse Market Insight. That’s a dip of 3.6% from April’s […]

It’s been an eventful week in the reverse mortgage industry, so in case you missed it, here are the top headlines from Reverse Mortgage Daily from the last seven days. HUD Secretary Carson Praises Reverse Mortgage Program in Speech — In a rare move, a sitting Department of Housing and Urban Development secretary lavished praise on […]

When reverse mortgage giant American Advisors Group announced actor Tom Selleck as its latest TV spokesman in 2016, the lender was filling a considerable void left by his predecessor, fellow actor and former U.S. Senator Fred Thompson. But now, a year into the Selleck campaign, AAG says it’s finding success with the “Magnum, P.I.” and […]

Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) are on pace to beat their 2016 figures despite a lack of seasoned loan pools, according to the latest data from New View Advisors. “Despite the much-reported slowdown in HECM endorsements, HMBS issuance remains robust, aided by growth in tail issuance and without highly seasoned pools,” the […]

It’s one of the most common questions that potential reverse mortgage borrowers have — and, as one recent New York Times piece illustrated, one of the more frequent sources of confusion and misinformation about Home Equity Conversion Mortgages. The folks at mortgage rate comparison site LendingTree compiled an all-in-one walkthrough of what to expect at […]