RMD Report: Reverse Mortgage Leaders on the Future of Proprietary Products

A great deal of the optimism that people have for the future of the reverse mortgage industry rests in the potential for proprietary products, largely unbound by the same kinds of regulations that govern the more typical products in the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program. As more lenders continue to […]

RMD Report: Low Rates, Private Products Boost 2019, Say Industry Leaders

The reverse mortgage market, comprising both traditional Home Equity Conversion Mortgages (HECMs) and proprietary loans, has been through a turbulent year in 2019. While year-over-year volume has shown a decline in the number of HECM originations when comparing the fiscal year data of 2018 and 2019, a number of other more positive developments have occurred. […]

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 […]