Home Equity Conversion Mortgage (HECM) endorsements dropped slightly by 5.6 percent to 2,546 loans for the month of June 2019, which indicates that the endorsement levels have started to settle into a more recognizable field of relative normality. This is according to the June HECM Lenders report compiled by Reverse Market Insight (RMI). “[This recorded […]
More than 1-in-5 American survey respondents who were adults when the Great Recession began in December, 2007 now say that their retirement savings are worse now than they were before it hit the market, according to a survey conducted by personal finance website Bankrate. This may be because the effects of the Recession were underestimated, […]
The requirement of a financial assessment (FA) of a reverse mortgage borrower’s ability to pay, now in its fifth year, is working by cutting tax and insurance defaults considerably. This is according to data analysis conducted and released Thursday by New View Advisors. “FHA’s new policy of requiring the financial assessment of the borrower’s ability […]
Even before USA Today published an article this month taking aim at reverse mortgages and the associated industry’s practices, the news outlet had previously published articles that relate caution to its readers concerning the idea of engaging in a reverse transaction. One such article was posted back in April, and a prominent industry expert has […]
Primarily caused by rising home prices and modest increases in mortgage debt, the aggregate value of home equity more than doubled in the years between 2011 and 2018. This is according to the 2019 edition of the State of the Nation’s Housing report from the Harvard Joint Center for Housing Studies (JCHS), released on Tuesday. […]
The sale and rental housing markets continued to move in divergent directions in the month of May, with home value growth rates slowing and potentially flattening while rent growth rates indicated a modest acceleration after a couple of consecutive declines. Both of these indicators are signs of a housing market that is beginning to normalize […]
Recent changes in long-term metrics could indicate that the reverse mortgage market is charting a path for borrowers toward higher loan proceeds. This is according to data compiled and provided to RMD by industry expert and VP of Organizational Development at Finance of America Reverse Dan Hultquist. “Many in the reverse mortgage industry focus on […]
Homeowners age 62 and older saw their collective housing wealth increase in Q1 2019 by 2.7 percent compared to the previous quarter. This constitutes an increase of approximately $104 billion to a record of $7.14 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. […]
Home Equity Conversion Mortgage (HECM) endorsements saw rise of 12.7 percent in April, hitting a threshold of 2,899 loans according to the latest data from Reverse Market Insight (RMI). Interestingly, while retail endorsement growth experienced a hike of 6.5 percent that month, wholesale growth easily outstripped it by growing at a rate of 21.2 percent. […]
According to recent research data, despite some of today’s reverse mortgage efforts targeted toward a population that is using home equity as a comprehensive planning tool, the borrower demographic of the past still holds true: borrowers of Home Equity Conversion Mortgages (HECMs) are made up of a major segment of primarily low-income individuals with little […]
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