Reverse Mortgage Marketing Evolves Along with New Private Products

As a plethora of new proprietary products have launched this year to fill holes left by changes to the Home Equity Conversion Mortgage program, lenders are refining their target audiences — and the best ways to reach them. On the surface, HECM marketing and proprietary marketing look similar. Both are targeting seniors who want to […]

Counselors Adapt to New Private Reverse Mortgages as Volume Falls

Reverse mortgage counselors have seen their demand fall in tandem with originations and endorsements, but many are already adapting their educational programs to include the wide array of private products entering the marketplace. Counselors logged 7,198 visits during July, according to data from Ibis Software Corporation — representing a sharp decline from the recent peaks […]

ReverseVision Folds Proprietary Reverse Mortgages into Origination Software

Reverse mortgage software firm ReverseVision this week announced expanded services aimed at the burgeoning proprietary market. Under the San Diego-based ReverseVision’s new proprietary outreach initiative, lenders can submit a packet of information about their individual private loans. Within eight to 10 weeks, that product will be fully incorporated into the company’s RV Exchange loan origination […]

With New Private Reverse Mortgage, RMF Targets Seniors with Forward Debt

The summer of new proprietary reverse mortgage products continued apace this week with the introduction of Reverse Mortgage Funding’s “Equity Edge Zero,” a no-closing-costs loan aimed at older homeowners with ongoing forward mortgage payments. The release coincides with the third-party debut of its existing Equity Edge product, which the Bloomfield, N.J.-based RMF introduced on a […]

Wave of New Private Reverse Mortgages to Hit This Summer

On the same day Reverse Mortgage Funding announced its new proprietary Equity Edge Reverse Mortgage, two more companies affirmed their commitment to building the private home equity conversion loan space. Longbridge Financial will introduce multiple private reverse mortgage products this year, CEO Chris Mayer announced Monday* at the National Reverse Mortgage Lenders Association’s eastern meeting […]

January Reverse Mortgage Data Shows Continued Post-Oct. 2 Bump

A pair of new reports on January reverse mortgage endorsements reveal that the bump in volume ahead of the October 2 rule changes continued to pay dividends into the new year. Home Equity Conversion Mortgage originators — including Federal Housing Administration-approved firms and their non-approved counterparts — saw 32.9% endorsement growth in the first month […]

U.S. Homeownership Rate Slips Versus That of Other Nations

Versus other developed nations, the United States is losing ground in terms of the rate of homeownership, new research finds.  Compared to 17 other first-world countries around the globe, the U.S. homeownership rate has fallen over time, an indicator that the American Dream is becoming less attainable, according to research published by the Urban Institute. […]