Co-founder and branch manager of Orange, Calif.based reverse mortgage lender Ennkar, Omar Ennabe, shares how his background as a financial planner and experience in the mortgage business during a tumultuous time helped lead to the successful founding of a reverse mortgage lender.
Ennkar founder and branch manager Omar Ennabe sits down with RMD to discuss how the company doubled business last year, and what it hopes to do differently now that it’s broken into the top 10 lenders.
Both the wholesale and retail segments of the reverse mortgage business saw increases in January 2021, though the way was led by wholesale according to data from Reverse Market Insight.
Home Equity Conversion Mortgage (HECM) endorsements decreased by 13.6% to 3,386 loans for the month of February 2020, a slight dip compared to the prior month, which recorded the highest endorsement levels since February 2019. The majority of the top 10 lenders recorded endorsement decreases, while 7 of 10 tracked regions were down, as well. […]