As reverse mortgage volumes have decreased since last year’s principal limit changes, moving to a bigger lender is an attractive option for some independent originators. Mario Martirano, a 25-year industry veteran, recently made the move to American Advisors Group after feeling the current stresses of a small business owner. Although he is still getting settled, […]
Category: American Advisors Group
The post-October 2 hangover is here. Originators of Home Equity Conversion Mortgages — including both Federal Housing Administration-approved lenders and their non-approved counterparts — suffered a decline of 17.6% in February, according to the most recent set of numbers from Reverse Market Insight. That’s a major shift from January, which saw the effects of the […]
“Saturday Night Live” poked fun at reverse mortgages and their advertisements last weekend, bringing up a common fear about the products for laughs. The mention came during a “Weekend Update” segment about Fox News host Laura Ingraham, whose show has been shedding sponsors after she mocked Parkland shooting survivor and gun-control advocate David Hogg on […]
Home Equity Conversion Mortgage-backed securities (HMBS) issuance remained strong in the first quarter of 2018, with Reverse Mortgage Funding taking the top position among issuers with nearly $1.1 billion in total value for the quarter. Yet the industry should prepare for a decline ahead, notes New View Advisors in its quarterly data analysis on HMBS. […]
Two of the biggest names in the reverse mortgage industry are teaming up in an attempt to expand the reach of proprietary products. American Advisors Group will begin offering Finance of America Reverse’s private HomeSafe loan on a correspondent basis, RMD has learned. Under the agreement, the Orange, Calif.-based AAG will offer the HomeSafe — […]
The sample size is small, but a new set of data shows that demand for reverse mortgages among younger borrowers may be declining under the new principal limit factor structure. Of the 2,910 Home Equity Conversion Mortgages funded in January and pooled in February, loans originated under the 2017-era PLFs accounted for 1,345, according to […]
Overall reverse mortgage endorsements slid slightly in December, driven primarily by sluggish wholesale performance. Home Equity Conversion Mortgage originators generated 4,747 loans in the final month of 2017, according to the most recent data from Reverse Market Insight. That figure, 0.7% dip from November, includes lenders approved by the Federal Housing Administration and non-approved firms. […]
Reverse mortgage professionals dodged a bullet as the second government shutdown of 2018 lasted less than six hours, avoiding potential delays in Department of Housing and Urban Development processing. But that wasn’t all that happened in the world of Home Equity Conversion Mortgages last week. Catch up on what you missed with our list of […]
Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) saw lower production of new pools in January, but the market is still at a higher point than it was the same time last year. HMBS issuers generated $657 million in new production last month, according to the most recent numbers from Baseline Reverse. That’s a drop […]
After months of rumblings, the nation’s largest reverse mortgage lender has officially confirmed its entry into the forward market. American Advisors Group on Wednesday announced the opening of a new office in Sacramento, Calif., where the company expects to have a team of 70 to 80 forward-only loan officers by the third quarter of 2018. […]
