Reverse Mortgage Volume Continues Steady Decline, But Some Buck Trend

For the fourth month in a row, home equity conversion mortgage (HECM) endorsement volumes have declined, dropping to the lowest level since September 2014, according to the latest data compiled by Reverse Market Insight (RMI).   In May, reverse mortgage volume fell -5% to 4,273 loans that month, a level not seen since last September when only 3,762 […]

Friday Round-Up: NBS Case Update, Reverse Mortgage Volume’s Silver Lining

In case you missed it, here’s what happened in reverse mortgage news  this week: Court Rules on Additional Non-Borrowing Spouse HUD Case—A U.S. District Court issued a memorandum opinion expressing whether certain initiatives set forth by the Department of Housing and Urban Development in its handling of two non-borrowing spouse cases could be considered as […]

Lenders Adapt Following Ginnie Mae Ruling on New Products

Following a notice published by Ginnie Mae earlier this month indicating the organization would no longer allow securitization of variant fixed-rate reverse mortgage loans, lenders are adapting to the news. On April 1, the Government National Mortgage Association (Ginnie Mae) notified the lending community that due to risk factors, it will prohibit the inclusion of […]

Navigating the New Reverse Mortgage Product Landscape

A lot has changed in just a few short months in reverse mortgages, and some of that change has been expected. Looking back to fall, when the Department of Housing and Urban Development implemented Home Equity Conversion Mortgage program changes, originators predicted that volume would fall based on a reduction in principal limit factors and […]

Live Well Releases Fixed Freedom Reverse Mortgage Product

Following several recent reverse mortgage product roll outs, Live Well Financial today announced another new Home Equity Conversion Mortgage Product and an open-end, fixed-rate option for borrowers.  The new product, the HECM Fixed Freedom requires no minimum draw upon loan closing, access to the full principal limit under various plan options, a set fixed rate, and an […]

Live Well Launches New Fixed “Fourtune” Reverse Mortgage Product

Live Well Financial is rolling out a new fixed rate Home Equity Conversion Mortgage, the “Fixed Fourtune,” following another recent product rollout last month. The new product allows borrowers to access the full principal limit within program guidelines and disburses the remainder of the available funds in four annual draws spread over a four-year period, while adhering to Federal […]

ReverseVision Adds Live Well, Mason-McDuffie to Lender Roster

San Diego-based reverse mortgage software provider ReverseVision will welcome two new mortgage lenders to its origination platform. The company will add both Mason-McDuffie Mortgage Corporation and Live Well Financial to its software platform that serves over 20,000 users nationwide.  Monday, ReverseVision announced that Mason-McDuffie Mortgage Corporation would launch its reverse mortgage channel using ReverseVision’s software, […]

After 3-Year Wait, Live Well Gets GNMA HMBS Approval

Reverse mortgage wholesaler and correspondent lender Live Well Financial announced last week that it has received approval to issue Ginnie Mae HECM-backed mortgage securities—more than three years after submitting its application. “We were encouraged to see they approved us,” says Michael Hild, chairman and CEO of Live Well, who attributes the timing to a changing […]