RMD Report: Preparing the Reverse Mortgage Industry for Gen X Borrowers

When the reverse mortgage industry made its transition in appealing to members of the baby boomer generation from borrowers primarily born during the years of the so-called “silent generation,” it presented a very unique opportunity for growth in the business. Growing up in an era of post-World War II dominance that solidified America’s place as […]

RMD Report: How TV Ads Help Spread the Word for Reverse Mortgages

After American Advisors Group (AAG) released its latest television commercials in July and August, respectively, the reverse mortgage industry was buzzing with activity. After sharing the July Home Equity Conversion Mortgage (HECM)-focused ad on social media, originators, brokers, counselors and more seemed to see actor Tom Selleck not just as a spokesman for AAG, but […]

RMD Report: Reverse Mortgage Industry Sees Big Potential in New Condo Rule

The Department of Housing and Urban Development (HUD) announced earlier this month a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified first time homebuyers as well as seniors looking to age in place, allowing those seniors to engage in reverse mortgage loans for single condominium units. While HUD […]

RMD Report: Alternative Equity Tools Could Bode Well for Reverse Mortgage Industry

In addition to the plethora of proprietary reverse mortgage products that have started to become increasingly prevalent in the industry, there have also been a series of products that allow some homeowners to tap the equity in their homes without relying on a debt-based loan. The increasing availability of alternative equity tapping tools – including […]

RMD Report: A Reputational Update on the Reverse Mortgage Industry

It’s no secret to anyone that works within it that the reverse mortgage industry deals, on a regular basis, with reputational challenges that impede the ability of loan officers to connect with potential borrowers. While many of these difficulties have been persistent for years, recent developments up to and including greater acceptance of the product […]

RMD Report: Originators Sense Turnaround Underway for Reverse Mortgages

On the heels of the lowest annual reverse mortgage volume recorded since 2005, originators say that based on January business activity, they are sensing an upswing is under way.Despite not having accurate data due to the longest partial government shutdown in American history, reverse mortgage originators across the country noted increased activity in their offices […]

RMD Report: What Originators Want From New Proprietary Reverse Mortgages

The emergence of new, proprietary offerings in the reverse mortgage market has been seen by originators and business observers as a general boon to the larger industry. Certain firms recently shared with RMD that, in the case of proprietary “jumbo” loans that are outside the purview of Federal Housing Administration (FHA) oversight, they’ve seen a […]