Retail Segment Leads October Jump in Reverse Mortgage Endorsements

Home Equity Conversion Mortgage (HECM) endorsements rose by 36% in the month of October, for a total of 2,551 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 45% that month, while wholesale levels recorded […]

Senior Housing Wealth Reaches Record High of $7.19 Trillion

Homeowners age 62 and older saw their collective housing wealth increase in Q3 2019 by 0.3% compared to the previous quarter. This constitutes an increase of approximately $24 billion to a record of $7.19 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]

Reverse Mortgage Endorsements Drop in November

Home Equity Conversion Mortgage (HECM) endorsements dropped by 13.8% to 2,842 loans for the month of November 2019, a decrease from the spike in activity observed the prior month with the majority of the top 10 lenders recording endorsement decreases. This is according to the November HECM Lenders report compiled by Reverse Market Insight (RMI). […]

An Update on Reverse Mortgage Second Appraisals

Second appraisals on Home Equity Conversion Mortgage (HECM) transactions under the recently-extended collateral risk assessment (CRA) rule are largely unchanged from figures shared earlier in the year, though have appeared to tick slightly downward. This is according to data from a valuation professional and the National Reverse Mortgage Lenders Association (NRMLA). “The latest data indicates […]

October Reverse Mortgage Endorsements: Best Month Since May 2018

Barring figures from February of 2019 when Home Equity Conversion Mortgage (HECM) endorsements shot up due to a correction after the 2018-19 partial federal government shutdown, October 2019 was the strongest month for HECM endorsements since May 2018, attributed to a favorable interest rate environment. This is according to new HECM analytics data compiled by […]

[Updated] MMI Report Shows Improvement in FHA Reverse Mortgage Portfolio

The reverse mortgage portion of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund (MMIF) continues to stand at a negative capital ratio on the overall government-backed portfolio, according to an annual actuarial review of the fund’s finances released Thursday morning. However, it has made notable progress over the past year, increasing $7.7 billion in […]

Brookings: How to Enhance Reverse Mortgages With Life Annuities

A possible path toward making reverse mortgages more enticing to both lenders and borrowers could be by enhancing traditional Home Equity Conversion Mortgage (HECM) to increase loan amounts at origination in order to allow the borrower to purchase a life annuity. That annuity can then be used to pay down principal and interest on the […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]

Brookings: Researchers Offer Reverse Mortgage Product, Underwriting Refinements

Since reverse mortgages are a relatively niche product with low utilization among American seniors, there are possible strategies that can be employed to increase its prevalence among those looking for funding solutions in retirement. This is according to a new research paper released last week during an event by the Brookings Institution, authored by Ohio […]

Liberty Parent Continues Inching Back into the Black

Ocwen Financial Corporation, parent company to reverse mortgage lender Liberty Home Equity Solutions, is beginning to see its reorganization efforts steer the company back toward financial profitability, however it endured a loss in the third quarter of 2019 that is slightly higher than the recorded loss the same time one year prior, according to financial […]