As the full scope and impact of the COVID-19 coronavirus pandemic continues to come into clearer view with the passing of each new day, the need for relief among those most affected by the health and economic shocks that have stemmed from it has caused many businesses to step up and offer their resources to […]
Canadian seniors have been tapping home equity through the use of a reverse mortgage at record levels, and now the nation’s collective reverse mortgage debt has topped $4 billion for the very first time. This is according to the Canadian Office of the Superintendent of Financial Institutions (OSFI), reported by Better Dwelling. “OSFI filings show […]
HomeEquity Bank, the largest reverse mortgage lender in Canada, posted record originations in 2019 as Canadian retirees continue to seek out financing options designed to fill in for the increasing rarity of traditional retirement funding, such as pensions. Additionally, HomeEquity Bank’s recently-entered rival in the Canadian reverse mortgage space has seen its own business grow […]
A study conducted earlier this year north of the border reveals some interesting insights concerning how seniors can be effectively marketed to, and much of it comes down to the idea that seniors don’t want to see a narrative in the media that they’re defined by diminished capacity. In order to craft advertisements that more […]
After American Advisors Group (AAG) released its latest television commercials in July and August, respectively, the reverse mortgage industry was buzzing with activity. After sharing the July Home Equity Conversion Mortgage (HECM)-focused ad on social media, originators, brokers, counselors and more seemed to see actor Tom Selleck not just as a spokesman for AAG, but […]
The reverse mortgage business across Canada is continuing to prosper, as evidenced by a notable increase in balance figures of more than double compared to figures from 2015. This is according to original reporting by Bloomberg. “Outstanding balances on reverse mortgages have more than doubled in less than four years to C$3.12 billion ($2.37 billion), […]
After changes to the Home Equity Conversion Mortgage (HECM) program were handed down by the Department of Housing and Urban Development (HUD) and the Federal Housing Administration in October 2017, the American reverse mortgage industry has had something of an uphill battle to climb in trying to recover a large amount of lost volume. Some […]
Toronto-based HomeEquity Bank (HEB), the leading provider of reverse mortgages in Canada, has partnered with domestic veterans organization the Royal Canadian Legion to extend special offers to the country’s veterans who are seeking to supplement their income through the use of a reverse mortgage loan. Previously, HomeEquity Bank engaged in a partnership with another domestic […]
Demand for reverse mortgages in Canada continues to grow, presenting a stark contrast to the declining volume exhibited in the American reverse mortgage market. On top of specific product differences in the Canadian product, there’s also a different business climate over the northern border that accounts for some of the differences between the two nations’ […]
