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. […]

Full November Stats Show Reverse Mortgage Endorsement Surge

The full November reverse mortgage endorsement stats are out, showing the beginning of the pre-October 2 surge — but only on the retail side. Home Equity Conversion Mortgage originators generated 4,781 loans in November 2017, according to the most recent data from industry analysts Reverse Market Insight. That total includes Federal Housing Administration-approved lenders and […]

Homes with HECMs Appreciate More Slowly, But Appraisals Play Key Role

Homes associated with Home Equity Conversion Mortgages tend to appreciate slower than their counterparts without reverse mortgages, though a variety of factors can either enhance or lessen the effects. In general, over an extended period of time, HECM homes generally have a depreciation of about 10% relative to other homes in the same ZIP codes, […]

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 […]

Longbridge Issues First Reverse Mortgage Securities

Just about two months after receiving the official approval from Ginnie Mae, Longbridge Financial, LLC issued its first Home Equity Conversion Mortgage-backed securities (HMBS). The Mahwah, N.J.-based firm made its initial pool offering on July 28, the company announced in a press release issued Wednesday. “The successful securitizations are the latest step in the growth […]

Friday Round-Up: Another Forward Lender Shifts into Reverse, 1st Bets on H4P

Congratulations on making it through another working week! Before you head off for (hopefully) warm-weather adventures over the weekend, take a look some of the reverse mortgage stories you might have missed while following all the drama coming out of Washington over the past five days. Largest Calif. Mortgage Broker Eyes Reverse Expansion Through New […]

Longbridge Receives Ginnie Mae HMBS Issuer Approval

Longbridge Financial, LLC has received approval from Ginnie Mae to issue Home Equity Conversion Mortgage-backed securities, the company announced Friday. The Mahwah, N.J.-based originator was formally given the go-ahead before the long Memorial Day weekend, Longbridge CEO Chris Mayer told RMD, after first applying in October of last year. Longbridge plans to issue its first […]

Friday Round-Up: Reverse Mortgage Lender Eyes 2017 Growth, Carson Closer to HUD Secretary Role

Another week has come and gone, leaving a bevy of reverse mortgage news stories in its wake. This week, a reverse mortgage lender discussed its plans to expand its presence in the market this year; a Senate subcommittee grilled President Trump’s Treasury pick, Steven Mnuchin, on reverse mortgage foreclosures; and Dr. Ben Carson moved one step closer […]

Reverse Mortgage Lender Banks on Industry Partners to Fuel Growth in 2017

It was a rough year for business in the reverse mortgage industry in 2016, marked by low industry volume and the looming uncertainty of proposed regulations. But just one month into the new year, one lender sees 2017 as the right time to continue expanding its presence in the reverse mortgage space—and it’s doing so […]