The reverse mortgage market has long awaited the return of private products to a HECM-heavy market. Now that several products are making inroads across the lending landscape, a question arises concerning what constitutes the right balance of HECM and proprietary loans. There’s no shortage of originators who would like to see a viable private alternative […]
Last August, the Mid-Atlantic region of the country outpaced all other regions in loan originations with a 28.2 percent increase in growth over the previous month, according to Reverse Market Insight. But have originators throughout the area continued to build on that momentum? Regional Stats: Total Mid-Atlantic Population: 57.3 million (U.S. Census)Senior Population (Ages 65 […]
As proprietary products gain appeal among prospective reverse mortgage borrowers, some companies are confronted with a new conundrum: prospects who qualify for both jumbo and Home Equity Conversion Mortgage (HECM) options. “California has a lot of borrowers with homes valued between $700,000 to $800,000,” says Christina Harmes, assistant manager of the C2 Reverse division of […]
In areas of the United States that have a prevalence of highly valued properties, jumbo proprietary reverse mortgages are increasingly becoming attractive options for lenders as the larger reverse mortgage industry observes generally reduced volume of government-insured Home Equity Conversion Mortgages (HECMs). For those companies that are active in both the jumbo proprietary business and […]
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