Census Shows America’s 40.3 Million Seniors, and Counting

The Baby Boom generation is largely responsible for boosting the number of Americans who are approaching retirement and is driving the median age in seven states to above 40 years old. With the population bulge quickly reaching retirement age, many businesses are ramping up efforts to cater to this growing population. Here’s a recap from […]

Is a Reverse Mortgage Double Dip in Store?

A report this week from Reverse Market Insight identifies a plateau in application data for the first months of 2011, with a question as to whether endorsement data will amount to a double dip for reverse mortgages through May of this year. “Endorsement volumes are pointing downward again for the past two months, showing an eerie […]

Hungry For More Reverse Mortgage Data? So Are We.

Reverse Mortgage Daily’s data site, Reverse Base, is now up to date with the most current reverse mortgage information for 2011. Find information about the Top 100 lenders, top states for HECM loans, or search for information by lender name. Perusing the Top 10 lenders? We know, there’s a blank space for #6. We’re working […]

HECM Applications Fall 17%, Saver Sees Its First Monthly Decline

Total HECM applications fell 16.6% in April, to 7,371, down from 8,838 applications in the previous month. Year over year, applications saw a 9.8% decline (see chart). To date, FHA has received 56,490 HECM applications in fiscal year 2011, ending Sept. 30, and projects the total number to reach 80,000 for fiscal year 2011. Chart: Reverse […]

March HECM Wholesale Drags, Non-FHA Approved Third-Party Originations Surge

Wholesale HECM endorsements fell slightly in March, with third-party originations by non-FHA originators gaining steam, according to a recent report from Reverse Market Insight. While wholesale saw a 0.7% drop, retail endorsements gained 10.8% during the month. RMI has tracked the declining number of originators in the industry for some time, but the TPO originations by […]

Industry Potential: Reverse Mortgages By the Numbers

With more than 10,000 Baby Boomers turning 65 each day, there is a lot of striking data in favor of the growing need for financial resources—including reverse mortgages—for seniors. We took some government data the U.S. Census collected in honor of Older Americans Month as well as data from some of RMD’s recent reports, to […]

Reverse Mortgage Lenders End First Quarter of 2011 on High Note

The reverse mortgage industry ended the first quarter of 2011 on a high note, growing for the first time on a year over year basis since July 2009 according to data from Reverse Market Insight. During March, lenders endorsed 7,306 HECM units, up 5.8% from the previous month and an increase of 25.5% from 2010.

Chart of the Day: HECM Rates After the Market Crash

New data from IBIS Software shows the dive rates took when the markets crashed in the fall of 2008. “When, and if, times return to normal, a LIBOR with a 2.50% margin will have a materially higher interest rate than the current fixed-rate HECM offerings,” said Jerry Wagner, CEO of IBIS. If the 10 year […]