California Poised to Take Center Stage in Private Reverse Mortgage Market

As new proprietary reverse mortgage products are teased and released, California sits as a prime potential market for borrowers looking for home equity-tapping options outside of the federal program. Favorable tax laws, high property values, and a large retiree population are a few reasons why jumbos could be poised to take off in the state. This […]

Longbridge Introduces New Private ‘Platinum’ Reverse Mortgage

After teasing a new private reverse mortgage offering in the spring, Longbridge Financial on Monday formally announced its Platinum mortgage program, marking the latest in a string of new proprietary products hitting the market this year. With the Platinum, the Mahwah, N.J.-based Longbridge seeks to tap into a wider range of potential borrowers than the […]

One Reverse Mortgage Launches HELO, First Private Product

One Reverse Mortgage is rolling out its first private reverse mortgage product, which the company hopes will meet the needs of a larger audience looking to tap home equity during retirement. The San Diego, Calif.-based reverse mortgage lender, a subsidiary of Quicken Loans, will allow consumers to borrow up to $4 million using the Home […]

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 […]

Homeowners, Appraisers Agreed More on Value at End of 2017

Though the average appraisal of a home still lags behind the price homeowners hope to achieve, the gap between the two numbers is narrowing, according to the National Quicken Loans Home Price Perception Index (HPPI). The index compares the estimate supplied by homeowners on a refinance mortgage application to the appraisal later conducted in the mortgage […]

Top 10 Reverse Mortgage Stories of 2017

The past year may well go down as one of the most transformative in the reverse mortgage industry since the program began in the late 1980s. The Department of Housing and Urban Development rolled out a series of sweeping changes to the Home Equity Conversion Mortgage, multiple major players began looking beyond the HECM for […]

Five Reverse Mortgage Marketing Strategies for 2018

With new reverse mortgage principal limits potentially bringing a significant drop in demand among prospective borrowers, the marketplace is set to become more competitive in 2018. And as the new year approaches, lenders and independent originators may be thinking about ways to shake up marketing plans in the coming months. Earlier this year, a pair […]

HECM Endorsements Jump in August, But Rule-Change Bump Still in Future

Reverse mortgage endorsements jumped 15.8% between July and August, with solid gains on both the retail and wholesale sides, but it’s still too early to see the effects of the recent mortgagee letter on actual origination demand. Home Equity Conversion Mortgage originators — including those approved by the Federal Housing Administration and their non-approved counterparts […]

Holiday Weekend Roundup: Michigan Merger, Life After the Fonz

Happy July 4 weekend from all of us at Reverse Mortgage Daily! As a reminder, we’re off both Monday, July 3 and Tuesday, July 4, returning to a regular posting schedule bright and early on Wednesday, July 5. We hope you have a happy and safe time! But before you step out the door, let’s […]

Reverse Mortgage Endorsements Drop in April, Still Riding Higher Than ’16

Reverse mortgage endorsements fell 6.1% between March and April, according to the latest data from Reverse Market Insight, but the research firm still sees signs of optimism amid the downward-pointing red arrows. FHA-approved Home Equity Conversion Mortgage lenders endorsed 5,036 loans last month, down from 5,364 in March — but still good enough for the […]