Senior Housing Wealth Reaches Record High of $7.17 Trillion

Homeowners age 62 and older saw their collective housing wealth increase in Q2 2019 by 0.5% compared to the previous quarter. This constitutes an increase of approximately $32 billion to a record of $7.17 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]

AAG, Longbridge Take Top Spots for Reverse Mortgage Securities Issuance

American Advisors Group (AAG) has retained its leading position as the top issuer of Home Equity Conversion Mortgage-backed securities (HMBS) in Q3 2019, with $1.38 billion of issuance leading to 23% of market share. This is according to publicly available GNMA data and private sources compiled by New View Advisors. The top five issuers are […]

Reverse Mortgage Endorsements Record Slight Uptick in September

Home Equity Conversion Mortgage (HECM) endorsements rose by 3.4% to 2,420 loans for the month of September 2019, a lagging figure that has led to a second consecutive month of relatively low endorsement activity in the reverse mortgage marketplace. This is according to the September HECM Lenders report compiled by Reverse Market Insight (RMI). The […]

Gov’t Watchdog Calls for More HECM Program Scrutiny

Timed for release alongside a congressional hearing devoted to reverse mortgages last week, a government watchdog is detailing its program recommendations in a new 106-page report. The report, “Reverse Mortgages: FHA Needs to Improve Monitoring and Oversight of Loan Outcomes and Servicing,” goes into significant detail concerning perceived “weaknesses” that were found in the HECM […]

Report: 2019 Reverse Mortgage Volume Drops, Utah Leads Regional Increases

From January through July, reverse mortgage origination volume has dropped when compared with figures from 12 months prior, but data from specific regional areas of the United States have shown a surprising increase in volume during the same period of time. This is according to a new report from Reverse Market Insight (RMI). “Jan-July [figures […]

Advantages for Proprietary Reverse Mortgages on Condos

While recent changes to rules governing condominium complex approvals by the Federal Housing Administration (FHA) will likely help the reverse mortgage industry to extend more loans to condo owners, new data concerning ways that condo borrowers are leveraging product features of proprietary reverse mortgages could indicate viable alternatives to more traditional Home Equity Conversion Mortgages […]

WSJ: Home Sales Inch Upward in August, Stalling Fears of Housing Slowdown

The month of August resulted in the strongest sales of U.S. homes in nearly 18 months, which has eased some of the year’s previous concerns that the housing market is showing signs of normalizing after years of rapid growth in home values. This is according to analysis by reporters Will Parker and David Harrison at […]

July Reverse Mortgage Endorsement Rise Led by Retail Segment

Home Equity Conversion Mortgage (HECM) endorsements rose by 8.2% in the month of July, for a total of 2,753 loans according to the latest data from Reverse Market Insight (RMI). The rise was led primarily by the retail endorsement segment of business, which experienced a jump of 12.9% that month, while wholesale levels recorded a […]

Forbes: These 6 Changes are Coming to Social Security in 2020

Social Security benefit payments constitute the cornerstone of income for the majority of American retirees. For existing and potential reverse mortgage borrowers alike, keeping up-to-date on any changes in the Social Security program will prove to be essential information for anyone taking a proactive approach to retirement planning. Always a flashpoint of ongoing debate and […]

CNBC: Average FICO Credit Score Reaches All-Time High

After reaching an all-time low of 686 in in late 2009, the average national credit score has reached 706 for the first time ever. This is according to FICO, the developer of one of the most commonly used scores, and based on original reporting by CNBC. Typically ranging from a low of 300 to a […]