After three consecutive month over month increases in volume, reverse mortgage lenders endorsed 5,966 HECM units during September, down 10% from August. Endorsements from September bring overall year to date volume to 54,356 HECMs, down 38% from 2009. According to Reverse Market Insight, the number of active lenders in the industry is down 30%, falling to 2,067 in […]
Category: Data
The last month of the Department of Housing and Urban Development’s FY 2010 may have ended on a low note − only 5,966 HECM endorsements, down 10.2% from August − but a new report from Reverse Market Insight reveals an optimistic outlook for 2011. For the federal government fiscal year, 79,096 reverse mortgages were endorsed […]
As the release date for the new HECM Saver program approaches, investors are flying blind in figuring out how to value the new product before it’s released. “The dealers are trying to get an idea about how it should be valued,” said Jeff Traister, head HMBS trader at Cantor Fitzgerald during a call with Reverse […]
After recovering in June from a four-month decline in overall industry performance, July gave lenders a reason for further optimism in 2010. According to Reverse Market Insight’s Wholesale Leaders Report for July 2010, total endorsement for retail and broker/wholesale lenders grew 10.8% for the month. With both channels continuing to grow from the previous month, July’s […]
The number of reverse mortgage applications increased 8.1% to 9,686 in August according to the latest report from the Federal Housing Administration. While down 12.4% from the same period last year, the application totals for August are the highest since September 2009.
While we already know that borrowers are overwhelmingly choosing the fixed rate product, but what about the ARM product? The latest in our Chart of the Day series looks at what type of payment plan reverse mortgage borrowers choose on adjustable rate reverse mortgages. According to data from Reverse Market Insight, younger borrowers overwhelmingly choose […]
New data published by the Department of Housing and Urban Development shows that despite record low interest rates, reverse mortgage prepayments are falling according to a report from New View Advisors. Hardly in line with conventional mortgage prepayment behavior − which typically rise when interest rates fall because borrowers refinance − the HECM product and […]
The first meaningful measurement of reverse mortgage performance, expected to be presented this month to select industry members, will reveal surprisingly low termination rates. The Reverse Market Insight, Inc. “Industry Data Repository” includes information from four of the top 10 reverse mortgage originators in the country and six of the top servicers, according to John […]
Reverse mortgage lenders endorsed 6,645 HECM units during August, up 12.6% from July. It’s the third consecutive month over month increase in volume and signals things could be turning around after an extremely challenging first half of 2010. Overall volume for 2010 is still down 37.7% from the same period last year, but individual lender […]
Data from the 2009 American Housing Survey (AHS) shows that while the number of people using reverse mortgages has increased dramatically, there is still plenty of opportunity for growth. Conducted by the US Census Bureau for the Department of Housing and Urban Development (HUD), the survey data shows that the number of homeowners using reverse […]
