Death is always a disruptive occurrence, and in the realm of financial planning, it can be a critical point at which surviving heirs need to make some key decisions regarding the fate of a decedent’s estate and assets. For someone who had a reverse mortgage on his or her home at the time of death, […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 9.4% in the month of November 2020, for a total of 3,390 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]
Though the onset of the COVID-19 coronavirus pandemic caused a great deal of turbulence and uncertainty in different parts of the reverse mortgage business, indications from lenders, brokers and originators signify that the economic situation created by the unique moment created additional interest in the reverse mortgage product category. For the new year, that has […]
Wholesale and correspondent mortgage lender and servicer Home Point Capital, Inc. filed for an initial public offering (IPO) through an S-1 with the Securities and Exchange Commission (SEC) late last week, the latest mortgage entity aiming to become publicly traded on the New York Stock Exchange (NYSE). Home Point, which owns an equity interest in […]
Reverse mortgage professionals who find themselves regularly interacting with potential or actual borrowers must take the extra step of ensuring as much accuracy in their presentations as possible. Any proverbial “wiggle room” that exists in something that is related by loan originators or other professionals has the chance to be misconstrued by a borrower, so […]
The experience of working in the reverse mortgage industry in 2020 inspired many different reactions at different parts of the year, from general optimism in the first couple of months to uncertainty during the immediate onset of the COVID-19 coronavirus pandemic. Soon after that point, things started to take a bit of a different turn […]
Considering that the reverse mortgage industry is the subject of a lot of misguided information in the minds of the public, one of the most efficient paths to improving the reputational issues of the industry comes in direct interactions between loan originators and their clients. Words in these instances matter, which is precisely why absolutism […]
A reverse mortgage professional can often be seen as many things to current and prospective clients, which is likely unavoidable in many cases due to the far more consultative nature of the reverse mortgage product when compared to its forward counterpart. However, this is precisely what can lead to many reverse mortgage professionals wanting to […]
The reverse mortgage portion of the Federal Housing Administration’s Mutual Mortgage Insurance Fund (MMIF) continues to stand at a negative capital ratio on the overall government-backed portfolio, according to an annual actuarial review of the fund’s finances released late last week. However, its negative value over the past year has been almost entirely diminished, sitting […]
Mortgage investment firm Ellington Financial LLC (NYSE: EFC) released its Q3 2020 earnings results, and has once again touted the success of top reverse mortgage lender Longbridge Financial, describing the lender’s performance as pronounced particularly as seniors continue to find new sources of cash flow due to the COVID-19 coronavirus pandemic. In an earnings call […]
