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 […]

Reverse Mortgage Endorsements Splashed with ‘Cold Water’ in August

Home Equity Conversion Mortgage (HECM) endorsements fell by 15 percent to 2,341 loans for the month of August 2019, a disappointing figure considering that the past six months have seen more positive endorsement activity spinning out of the uncertainty exhibited at the start of the year. This is according to the August HECM Lenders report […]

August HMBS Data Shows Benefits of Lower Interest Rates

The production of new Home Equity Conversion Mortgage-backed securities (HMBS) totaled $637 million in August, with lower interest rates strengthening new production. This is according to publicly available GNMA data and private sources compiled by New View Advisors. August saw 93 pools issued, which included approximately $390 million of new unseasoned Home Equity Conversion Mortgage […]

Rising Senior Debt Levels are Concerning Researchers

While more seniors today are embracing more active lifestyles and generally working longer, academics conducting research into the lives of modern older Americans are also recording an increasing trend in seniors’ embrace of debt, which has both financial consequences while also raising mental health concerns. “The median total consumer debt of households headed by someone […]

Survey: Older Adults Struggle with Housing Costs at All Income Levels

Nearly 1 in 3 adults over the age of 45 have struggled to keep up with housing costs over the last 12 months. While these costs predictably hit those with lower incomes harder, the issue is present across all income levels and retirement timelines. This is according to a new survey conducted by real estate […]

June Reverse Mortgage Endorsement Drop Led by Retail Segment

Home Equity Conversion Mortgage (HECM) endorsements fell by 5.6% in the month of June, hitting a threshold of 2,544 loans according to the latest data from Reverse Market Insight (RMI). The drop was led primarily by the retail endorsement segment of business, which experienced a drop of 8.7% that month, while wholesale growth managed to […]

Lower Interest Rates Quelling Effects of Oct. 2017 Reverse Mortgage Changes

The current reverse mortgage rate environment may not completely eliminate the impact of October 2017’s notorious changes to principal limit factors (PLFs), but it is certainly diminishing them, says a prominent reverse mortgage educator. After sharing with RMD a favorable change in reverse mortgage rates at the beginning of the summer, things have only managed […]