Home Equity Conversion Mortgage (HECM) endorsements saw a significant jump in February, with total endorsements rising 142.6 percent to a total of 4,000 loans, according to the latest data from Reverse Market Insight (RMI). However, the pronounced spike in endorsements across both the retail and wholesale channels is likely indicative of the remaining effects from […]
The difficulty that the senior population has in finding an adequate amount of money to fund retirement is an issue that is only growing in scale, and the reverse mortgage industry needs to keep the unique hardships faced by seniors fully in mind when advising them on how best they can make ends meet. This […]
When looking at the raw data, Home Equity Conversion Mortgage (HECM) endorsements seemed to drop sharply by a figure of 35.7 percent, to 2,573 loans for the month of March 2019. When looking more closely at the details, though, the figure is actually much closer to the average observed between December and February, according to […]
Seniors are more likely to hold home-secured debt, and to hold more of it today than in years past. Their percentage of held debt held has also increased, with seniors aged 75 and up having become four times more likely to hold home-secured debt in 2016 when compared with 1989. The value of debt held […]
A new analysis of second appraisals on Home Equity Conversion Mortgage (HECM) transactions under the new collateral risk assessment rule reveals that the overall frequency has jumped 5 percentage points to 26 percent from October 2018 to February 2019. This is according to data presented by valuation professionals at the National Reverse Mortgage Lenders Association […]
Facebook on Tuesday announced sweeping changes to its advertising policies that will likely cause a shift in the way mortgage marketers use the platform to reach prospective borrowers—reverse mortgage lenders included. By limiting the demographic filters that marketers can use to target Facebook users in certain product categories, the social media giant will change the […]
Primarily echoing previously recorded numbers among government-approved lenders, Home Equity Conversion Mortgage (HECM) endorsements dropped slightly in January, with total endorsements falling 5.7 percent to a total of 1,649 loans, according to the latest data from Reverse Market Insight (RMI). However, some lenders managed to buck the downward trend by posting positive gains. The HECM […]
The housing wealth of homeowners aged 62 and over grew by 1.4 percent, or $98 billion in the fourth quarter of 2018, resulting in a record total housing wealth level of $7.05 trillion, according to figures reported Wednesday by the National Reverse Mortgage Lenders Association (NRMLA) in its quarterly release of the NRMLA/RiskSpan Reverse Mortgage […]
Americans place much of their focus on managing their existing debt over saving for the future, which results in their overall loss of focus on adequately saving enough money for retirement. This is according to Jamie Hopkins, director of retirement research at Carson Wealth in a piece at Forbes. “Most parents list paying down existing […]
The most affordable metropolitan area in the United States is in the Pittsburgh, Pa. area, which would require an annual salary of at least $37,659.86 in order to adequately afford the purchase of a median-priced home. Conversely, the least affordable metro in the country is in the San Jose, Calif. area, which requires an annual […]
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