Private Reverse Mortgages Kick Off in Germany with Room to Grow

A fledgling reverse mortgage market in Germany sees room to grow through two products now being offered by a large bank and a large life insurance company. While the German government does not yet support a reverse mortgage product, the private financing has proven successful in the first 1,000 or so reverse mortgages originated since […]

Poland Reverse Mortgage To Account for Borrower Age, Sex

Poland is moving ahead with its reverse mortgage program, scheduled to launch this spring, months after initial research was done to test its viability. A reverse mortgage law is currently being prepared by the Economy Ministry according to the Warsaw Business Journal. The report, which compares current lifetime annuity options to the new reverse mortgage […]

Taiwan Reverse Mortgage Program Trial for Singles Only

The ROC (Republic of China) government has approved a trial reverse mortgage program for Taiwan that will help provide older citizens with greater financial security, according to a Taiwan Today report following an announcement by Taiwan’s Ministry of the Interior on Tuesday. “The experimental program will be open to people 65 years of age or […]

India Explores New Reverse Mortgage Product for Launch

Reverse mortgages may be picking up some increased interest soon in India, as talks between the National Housing Bank (NHB) and government-owned Corporation Bank are ongoing, India’s Financial Chronicle reported Monday. NHB has already partnered with Life Insurance Corporation of India in order to develop a reverse mortgage product, the report states. Reverse mortgage products […]

Reverse Mortgage Applications Up 48% in South Korea

The number of reverse mortgage applications is rising faster than expected in South Korea reports MK Business News. During August, the number of applicants increased to 268 people, up 26% according to Korea Housing Finanance Corp. The new insured amount grew from 281.2 billion won ($261.2 million) to 351 billion won. Over the first eight […]

HOMEQ Net Income Up 42% in Q2, Sees Reverse Mortgage Demand Grow

HOMEQ Corporation, the largest provider of reverse mortgages in Canada, saw originations in the second quarter grow 18% from last year, coming in at $69.7 million. Adjusted net income per share increased by 42% over the same period in 2010, the portfolio grew by 16% to $1.1 billion. The company continues to see more demand […]

Hong Kong, Bank of East Asia Launch Reverse Mortgage Program

Bank of East Asia will serve as a pilot bank in a reverse mortgage program launching in Hong Kong, the company announced today. The program, introduced by the Hong Kong Mortgage Corporation, has begun to accept reverse mortgage applications, following a signing ceremony held by the HKMC. “We are pleased to announce BEA’s participation in […]

HOMEQ Strengthens Position in Canada’s Reverse Market, Acquires Portfolio

HomEquity Bank, a subsidiary of HOMEQ Corporation, Canada’s largest reverse mortgage lender, has grown minimally larger after taking over the remaining portfolio of reverse mortgages funded by Canadian operation Seniors Money International (SMI). HomEquity says it will maintain administration of the portfolio, which rests at just under $4 million, and will continue to service SMI’s existing clients […]