Reverse Mortgage Endorsements Began to Slip in December

Overall reverse mortgage endorsements slid slightly in December, driven primarily by sluggish wholesale performance.  Home Equity Conversion Mortgage originators generated 4,747 loans in the final month of 2017, according to the most recent data from Reverse Market Insight. That figure, 0.7% dip from November, includes lenders approved by the Federal Housing Administration and non-approved firms. […]

January Reverse Mortgage Volume Highest Since ’11

After months of waiting for evidence of a surge, reverse mortgage origination numbers set a recent record in January. Federal Housing Administration-approved reverse mortgage lenders logged 6,313 endorsements last month, making it the best month for the industry since March 2011 according to the most recent numbers from Reveres Market Insight. That’s a 32.5% growth […]

Reverse Mortgage Securities Market Sets Record in December

Issuers of reverse mortgage-backed securities (HMBS) had a record end to 2017, logging the highest monthly issuance total in almost eight years. HMBS firms generated 106 loan pools for a total of $1.35 billion, outpacing $1 billion in payoffs — the first time in 15 months that issuance exceeded payouts, according to the most recent […]

Reverse Mortgage Endorsements Up in 2017, Fallout Likely Coming

Reverse mortgage lenders handily beat 2016 endorsement totals last year, aided by the rush to lock in principal limit factors ahead of major changes in October, but a predicted crash is close on the horizon. Federal Housing Administration-approved lenders logged 56,912 endorsements during calendar 2017, according to the most recent data from Reverse Market Insight. […]

AAG, RMF, FAR Top List of Reverse Mortgage Securities Issuers

Some familiar names finished 2017 atop the Home Equity Conversion Mortgage-backed securities (HMBS) leaderboard, and a newcomer claimed the sixth spot in its first year in the marketplace. American Advisors Group issued 233 loan pools for a total of $2.3 billion in 2017, taking the crown with 21.9% market share according to the most recent […]

HUD Releases New Foreclosure Prevention Guide for Homeowners

The Department of Housing and Urban Development this week released a new resource for homeowners facing foreclosure. While it doesn’t specifically mention reverse mortgages, the guide — titled “Homeowner’s Guide to Success” — offers pointed advice that still applies to holders of Home Equity Conversion Mortgages. For instance, the document advises struggling homeowners to contact […]

FAR Enters Secondary Market for Inactive Reverse Mortgage Loans

Finance of America Reverse has issued a pool of securities associated with inactive Home Equity Conversion Mortgages — a strategy that could represent a solution to liquidity issues in the space. The pool consists of 2,078 inactive loans with a total balance of just under $420 million, according to an analysis from Moody’s Investors Service. The […]

HECM Originators Detail ‘Dream’ Proprietary Reverse Mortgage Product

Faced with lower principal limit factors for the Home Equity Conversion Mortgage, brokers are enthusiastic about the potential of new proprietary reverse mortgages entering the market. These possible products came up during a CEO panel at the National Reverse Mortgage Lenders Association’s annual conference in San Francisco last month, where executives challenged the industry to […]