Proprietary Reverse Mortgages Open Doors for New, Existing Borrowers

As the industry eagerly awaits the introduction of new proprietary reverse mortgages, jumbo loan originators credit these products with helping borrowers in a variety of situations—some more predictable than others. For a jumbo borrower, the needs are often very similar to those of a Home Equity Conversion Mortgage borrower, said Christina Harmes, a certified reverse […]

Nationwide Opens New Las Vegas Branch with Brewer, Rodriguez

Nationwide Equities this week announced the opening of a new office in Las Vegas helmed by a pair of reverse mortgage industry veterans. Jesse Brewer and Rick Rodgriuez will run the Mahwah, N.J.-based Nationwide’s new Nevada office, which will offer both Home Equity Conversion Mortgages and forward loans. “In today’s market, it is very expensive […]

Reverse Mortgage Volume Fallout Begins for Post-Oct. 2 Era

The expected fallout of reverse mortgage loan volume following program changes implemented on October 2, 2017 is beginning to emerge in terms of real numbers, according to data released Tuesday by industry data and analytics firm Reverse Market Insight (RMI). With an endorsement decline of more than 17% during March, the industry saw its lowest […]

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 […]

Nationwide Equities Rebrands Reverse Mortgage Offering

Nationwide Equities’ retail reverse mortgage offering has a new name. Starting this week, the Mahwah, N.J.-based lender will offer Home Equity Conversion Mortgage products to consumers under the name Reverse Loans USA.  “The only reason we’re doing a name change is to identify concisely and without question what we’re selling,” Nationwide CEO Paul Lamparillo told […]

Reverse Mortgage Must-Reads: Goodbye H4P Handcuffs

Here’s everything you need to know to catch up on this past week in reverse mortgages, which brought more analysis on the relaxing of rules regarding Home Equity Conversion Mortgage for Purchase transactions, the departure of a familiar name, and some commentary on the program from the man at the top. New Guidance Releases HECM-for-Purchase […]

Reverse Mortgage Endorsements Decline Again, But Show Growth at Top

Monthly reverse mortgage endorsements continued to decline after a promising early spring, though most top-10 lenders had a reason to celebrate their performance in May. Home Equity Conversion Mortgage lenders turned in 4,851 total endorsements for the month, according to the most recent breakdown from Reverse Market Insight. That’s a dip of 3.6% from April’s […]

[Sponsored] Nationwide Equities Renews its Commitment to the Reverse Space

Nationwide Equities Corporation, a top-10 reverse mortgage lender, today announced its decision to join the National Reverse Mortgage Lenders Association and take several steps to “shore up the confidence level with HECM-to-HECM loans.” The Mahwah, N.J.-based lender said it “placed its differences aside” with NRMLA and pledged to adhere to its code of ethics, and also […]

Reverse Mortgage Endorsements Trickling Downward, Still at Post-FA Highs

Home Equity Conversion Mortgage endorsements fell by 3.6% from April to May, according to the latest data from Reverse Market Insight. The Dana Point, Calif.-based research firm counted 4,854 reverse mortgage endorsements among Federal Housing Administration-approved lenders last month, down from 5,036 in April and March’s recent record high of 5,364. The slow but steady […]

Big Retail, Wholesale Gains Fuel Reverse Mortgage Volume for These Lenders

Reverse mortgage volume saw its biggest monthly increase in August when endorsements jumped 24%, a growth driven by similarly big gains in both the industry’s retail and wholesale origination channels. Home Equity Conversion Mortgage (HECM) endorsements totaled 4,378 units in August, comprising 2,440 retail loans and 1,938 loans on the wholesale side, according to the […]