New Tech Takes Reverse Mortgages Beyond the Kitchen Table

As local economies across the country begin the process of slowly reopening in the wake of closures caused by the COVID-19 coronavirus pandemic, lingering questions about safety persisting in the minds of consumers is still only natural. According to Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases in an interview […]

How the New Condo Rule is Playing Out for Reverse Mortgage Lenders

In late 2019, the Department of Housing and Urban Development issued new condominium guidelines that aimed to make it easier for single units to be approved for Federal Housing Administration (FHA) financing. This included transactions under the Home Equity Conversion Mortgage (HECM) program. Historically, an entire condo complex would need to be approved for FHA […]

Slowing HELOC Market Leads to More Reverse Mortgage Inquiries

Reverse mortgage originators have long heralded the benefits of reverse mortgage options for some prospects relative to home equity lines of credit (HELOCs). Yet recent changes in the home equity lending environment have brought this comparison back to the forefront, and some originators are receiving even more inquiries due to individuals who are interested in […]

Reverse Mortgage Refinances Increase, With Interest During Pandemic

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 […]

Expanded Reverse Mortgage Product Landscape Can Lead to Counseling Confusion

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 […]

Some Positive Reverse Mortgage Industry Effects of Oct. 2017 Changes

When the Federal Housing Administration (FHA) handed down changes to principal limit factors (PLFs) in October of 2017, by all accounts that changed proved nearly disastrous for the reverse mortgage industry. Endorsement volume for Home Equity Conversion Mortgages (HECMs) seriously declined, originators related stories of increased difficulty in finding qualified borrowers, and many still refer […]

The Ups and Downs of Reverse Mortgage Industry Recruiting

As many in the reverse mortgage industry are all too aware, finding solid, dedicated personnel that understand and adapt to the intricacies and nuances of the reverse business can be a bit of a tricky process. Some in the industry have gotten around this problem by taking people who are experienced primarily in the traditional, […]

How to Describe New Reverse Mortgage Product Landscape to Clients

The modern reverse mortgage product landscape has grown in recent years to include a variety of different options that either come with insurance for the lenders by the government, or that don’t include the government at all. As proprietary reverse mortgage options continue to become more prevalent (even as some within the industry debate exactly […]

Reverse Mortgage Industry Encouraged by 2020 Lending Limit Increase

Last week, the Federal Housing Administration released a Mortgagee Letter (ML) detailing that the lending limit for government-backed Home Equity Conversion Mortgage (HECM) loans would be increasing for the fourth consecutive year in a row, to $765,600 beginning with case numbers assigned on January 1, 2020. This represents a welcome development for many reverse mortgage […]