The economic impact of the COVID-19 coronavirus pandemic has universally affected the operations of virtually every business in America, with many non-essential operations shuttered for months following the spread of the virus into global pandemic status as people and organizations grappled with ways to continue operating. The reverse mortgage business is no exception, particularly since […]
Madison, Wis.-based Fairway Independent Mortgage Corporation has added to its national reverse mortgage leadership team by appointing TImothy Harder as its national reverse marketing specialist. He will also be working with the company’s operations, marketing and sales teams to implement and update workflow processes to expand growth throughout the organization. Timothy Harder Harder brings with […]
Southfield, Michigan-based 1st Nations Reverse Mortgage announced this week that the company has hired industry veteran Ken Krajewski as head of reverse mortgage lending. The company, which offers reverse mortgages through both wholesale and retail channels is a division of Midwest Loan Solutions. “The addition of passionate and highly qualified reverse mortgage specialists to their […]
When looking at the levels of business for the reverse mortgage industry in the Mid-Atlantic region of the United States, a clear-cut contender for the highest levels of volume among the eight states and the District of Columbia clearly emerges. According to reverse mortgage loan data from the U.S. Department of Housing and Urban Development […]
While lenders have reported an increase in general interest around reverse mortgages during the COVID-19 pandemic, both from prospective borrowers and financial planning professionals, several factors are also leading to an increase in refinances of existing reverse mortgages at the same time. Given the pre-pandemic climate and subsequent economic downturn, the market has seen an […]
During a time when financial planners have taken a renewed interest in reverse mortgages for their clients, a recent Realtor.com article suggests Realtors may also see a possible resurgence in reverse mortgage interest ahead. “For those close to retirement, a lack of savings may mean monthly expenses go unpaid. As a result, retirees may be […]
Reverse mortgage endorsement volume for April as reported by the Department of Housing and Urban Development earlier this week indicated a month-over-month decline of roughly 45% — to just over 1,600 loans. But the numbers aren’t reflective of what’s happening in the market, several industry sources have shared with RMD, particularly at a time when […]
The modern reverse mortgage product landscape has grown significantly in recent years to include a variety of different options that are either sponsored by the federal government, or that don’t include the government at all. As proprietary reverse mortgage options continue to become more prevalent, there is potential for the product landscape to become more […]
During a time when some lenders have scaled back their participation in the proprietary reverse mortgage landscape due to market volatility, one lender announced this week it is expanding its offerings. San Diego-based Plaza Home Mortgage, predominantly a wholesaler lender is expanding its Reverse Jumbo mortgage program to 11 states and will now be offering […]
While reverse mortgages have long been a viable option for many homeowners ages 62 and older, the current economic climate stemming from the COVID-19 coronavirus pandemic is leading more consumers and financial professionals to examine home equity conversion to help bridge the gap. American Advisors Group (AAG) is at the forefront of connecting with financial […]
