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 […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 14.1% in the month of March 2020, for a total of 2,905 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 17% that month, while retail levels […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 13.7% in the month of February 2020, for a total of 3,381 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the retail endorsement segment of business, which experienced an decrease of 24.4% that month, while wholesale levels […]
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. […]
While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]
The reverse mortgage industry has struggled with adapting to changes made to the Home Equity Conversion Mortgage (HECM) program handed down by FHA two years ago. In 2019, the industry recorded a 32.3% loss in volume for the period of January-July compared with the same period the prior year. As a result, finding standout success […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 5.6% in the month of June, hitting a threshold of 2,544 loans according to the latest data from Reverse Market Insight (RMI). The drop was led primarily by the retail endorsement segment of business, which experienced a drop of 8.7% that month, while wholesale growth managed to […]
When it comes to being a reverse mortgage originator, there are many different job-specific duties and attributes that make the profession unique. Far more than those working in the traditional forward mortgage space, reverse mortgage originators often have to take a slower, consultative approach to interacting with clients and walking them through the complexities of […]
