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 […]
Home Equity Conversion Mortgage (HECM) endorsements fell 16.5% in June, however given the fact that the figure recorded in May was the highest the industry has seen in two years, the overall drop is modest and means that the June figure is still the second highest monthly total recorded in a year. Additionally, HECM-backed Securities […]
Reverse mortgage loans in the United States territory of Puerto Rico are resulting in non-death-related foreclosures at a rate of nearly one-in-four between 2014 and 2018, an issue magnified by Puerto Rico’s struggles with natural disasters, falling home prices and a lack of understanding relating to the territory’s unique tax exemptions, according to an investigative […]
Homeowners aged 62 and older saw their collective housing wealth increase in Q1 2020 by 1.6% compared to the previous quarter. This constitutes an increase of approximately $120 billion to a record of $7.54 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]
As the economic impact of the COVID-19 coronavirus pandemic continues to be felt by Americans, the process that members of the baby boomer generation go through to try and find work has been complicated by the ongoing effects of the virus. To that end, there are some tips that older workers can try to potentially […]
A surprising number of investors aged 65 and older have reacted to the market volatility generated by the COVID-19 coronavirus pandemic by selling off all of their stocks, divesting themselves entirely from their exposure to the market. This is according to data from Fidelity Investments as cited by LPL Financial in a report at Financial […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 47.8% that month, while retail levels […]
