New Data Reveals Slight Increase in Second Appraisal Cases

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 […]

How Facebook’s Major Ad Policy Changes Are Impacting Reverse Mortgage Marketers

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 […]

Wholesale Reverse Mortgage Channel Drops With Retail in January

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 […]

Senior Housing Wealth Tops $7 Trillion for First Time Ever

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 […]

Forbes: Warped Financial Priorities Lead to Tough Retirement for Americans

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 […]

Pittsburgh is Top Metro for Housing Affordability Based on Income

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 […]

Reverse Mortgage Endorsements Rocket Upward in February

Home Equity Conversion Mortgage endorsements jumped 142.7 percent to 4,002 loans in the month of February. While that level of increase is enough to turn anyone’s head, it’s still difficult to tell if the increase observed is correcting after the 2018-19 partial federal government shutdown clouded endorsement figures for January, said Reverse Market Insight president […]

Fourth Private Reverse Mortgage Securitization Pays Off Completely

Structured Asset Securities Corporation Reverse Mortgage Loan Trust Series 2006-RM1 (SASCO 2006-RM1) became the fourth securitization trust of proprietary reverse mortgage loans to pay off completely, according to a recent New View Advisors Commentary. On February 25, 2019, the remaining bondholders received their final payments, and now all bondholders have received their full principal and […]

Older Workers Face Career Woes Even in a Strong Economy

As workers get older, their employment becomes increasingly difficult to maintain even in a generally prosperous economic climate. This is according to a study conducted by the Urban Institute, and recently highlighted by the Boston College Center for Retirement Research. Workers over the age of 50 have a higher likelihood of encountering an involuntary job […]

Data Reveals New Findings on Second Appraisal Cases

The reverse mortgage industry has had to endure multiple significant changes over the last 18 months, but the arrival of a new rule that opened the possibility for a property to require a second appraisal had the potential to notably impact both lenders and borrowers. With five months of second appraisals, the industry has taken […]