Home Equity Conversion Mortgage (HECM) endorsements remained relatively stable at recently-high levels in September of 2020, recording a drop of only 1.75% to 3,937 loans. This marks the first time since May that HECM volume fell below 4,000 loans, but still remains well above numbers observed between January and April of this year according to […]
Homeowners aged 62 and older saw their collective housing wealth increase in Q2 2020 by 1.8% compared to the previous quarter. This constitutes an increase of approximately $134 billion to a record of $7.70 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]
Seniors in Canada have been leveraging home equity at a rapid pace in that country, as Canadian reverse mortgage debt held by the nation’s seniors has topped $4.3 billion (roughly $3.3 billion USD) even as demand appears to have slowed slightly. This is according to filings from Canada’s Office of the Superintendent of Financial Institutions […]
Home Equity Conversion Mortgage (HECM) endorsements rose by 1.2%% in the month of July 2020, for a total of 4,254 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The rise comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]
The new Home Mortgage Disclosure Act (HMDA) data report released late last week by the Consumer Financial Protection Bureau (CFPB) includes origination volume data for proprietary reverse mortgage products during the 2019 calendar year. This is according to the report itself and independent verification by sources with knowledge of private product originations. The data offers […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 5.9% to 4,007 loans for the month of August 2020, a slight dip on the August numbers but still a high figure overall in emphasizing that the reverse mortgage business remains on strong footing during the COVID-19 coronavirus pandemic. This is according to the August HECM Lenders […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 16.4% in the month of June 2020, for a total of 4,203 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall came on the heels of a massive endorsement spike observed in May, and still accounted for the second highest endorsement […]
The production of new Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) totaled approximately $1.42 billion in July as continuing capital markets recovery and low interest rates fueled strong new production and a large seasoned pool, making for the highest issuance level since February 2018. This is according to publicly available Ginnie Mae data and private […]
Home Equity Conversion Mortgage (HECM) endorsements rose dramatically by 214.8% in the month of May 2020, for a total of 5,027 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The rise was led by the retail endorsement segment of business, which experienced an increase of 235.5% that month, while wholesale […]
Home Equity Conversion Mortgage (HECM) conditional prepayment (CPR) speeds surged in June, as borrowers take greater advantage of the interest rate environment that has resulted from the unfreezing of the 10-year LIBOR SWAP rate, while the lowest prepay speeds indicate one top lender is faring best among its competitors. This is according to data compiled […]
