It’s important for everyone working in the reverse mortgage industry today to work as not only a brand ambassador for their own company, but as an ambassador for the reverse mortgage product category itself. This is one of the ways in which the word about reverse mortgages can be spread further, and how the share […]
The path toward a more robust reverse mortgage industry which includes a broader pool of borrowers seeking out home equity conversion in order to expand their financial options in retirement runs directly through the ability for the industry to bolster its distribution infrastructure in the future. This can allow the industry to more flexibly respond […]
The reverse mortgage industry hoped for the best and prepared for the worst shortly after the onset of the COVID-19 coronavirus pandemic, but industry leaders from some of the top lenders in the space are encouraged by the way the business has performed, owing to the demonstrated value that a reverse mortgage has presented to […]
Reverse Mortgage Funding (RMF) and Liberty Reverse Mortgage, respectively, have each resumed offering their previously-suspended proprietary reverse mortgage products after observing increased stability in market conditions. In addition, RMF is also introducing a new variation of its private product with a line of credit feature. This is according to representatives from both companies during a […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 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 47.8% that month, while retail levels […]
As proprietary reverse mortgage products have emerged as an increasingly dominant player in the broader reverse mortgage industry, determining what common attributes are shared by a group of borrowers who decide to go the proprietary route becomes essential so that lenders can best tailor their proprietary offerings to meet the needs of their clients. The […]
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 […]
Ocwen Financial Corporation, the parent company of reverse mortgage lender Liberty Reverse Mortgage, has been notified by the New York Stock Exchange (NYSE) that the average per share trading price of its common stock was below the NYSE’s minimum average share price rule, which could potentially lead to the stock’s delisting from the exchange without […]
Proprietary reverse mortgage products that are not reliant on the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program remain a major source of industry optimism for those within it as of the beginning of 2020. This is according to Reverse Mortgage Daily’s Outlook Survey and Report, conducted online in December 2019. The survey […]
Two proprietary reverse mortgage products – EquityIQ from Liberty Reverse Mortgage and Equity Elite from Reverse Mortgage Funding (RMF) – have been ‘temporarily suspended’ by the lenders due to current levels of volatility in financial markets caused by the COVID-19 coronavirus pandemic. This is according to communications that both lenders separately issued to their partners, […]
