The largest reverse mortgage lender by volume and the Better Business Bureau (BBB) have expanded their partnership in an effort to combat senior-focused fraud nationwide. Through the partnership, launched last year by American Advisors Group (AAG) and the BBB, the organizations have created the “Savvy Seniors Program,” a senior-focused fraud prevention program that will host […]
Primarily echoing previously recorded numbers among government-approved lenders, Home Equity Conversion Mortgage (HECM) endorsements dropped slightly in January, with total endorsements falling 5.7 percent to a total of 1,649 loans, according to the latest data from Reverse Market Insight (RMI). However, some lenders managed to buck the downward trend by posting positive gains. The HECM […]
The required Federal Housing Administration (FHA) approval process for condominiums has been a consistent thorn in the side of the reverse mortgage business. Because it is the full condo complex that is required to have FHA approval, lenders have to approach each un-approved complex’s association or board in order to encourage them to go through […]
Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]
Home Equity Conversion Mortgage (HECM) originators began 2015 on an even keel, sustaining endorsement volumes in January after ending the prior year with a spike, according to the latest Reverse Market Insight (RMI) report. Retail outpaced wholesale to end the year, contributing to an overall 12.1% increase in HECM endorsements between November and December, RMI notes. And though […]
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