Reverse Mortgage Experts Detail Impacts of LIBOR Sunset, CMT Transition

Described as an “autumn surprise” in the opening remarks of the National Reverse Mortgage Lenders Association (NRMLA) Virtual Annual Meeting & Expo by association president Steve Irwin, the transition away from the London Interbank Offered Rate (LIBOR) index and toward the Constant Maturity Treasury (CMT) index is a pronounced disruption to the operations of the […]

September Reverse Mortgage Volume Remains High, Securities Issuance Logs Another ‘Banner Month’

Home Equity Conversion Mortgage (HECM) endorsements remained relatively stable at recently-high levels in September of 2020, recording a drop of only 1.75% to 3,937 loans. This marks the first time since May that HECM volume fell below 4,000 loans, but still remains well above numbers observed between January and April of this year according to […]

January 2021 LIBOR Restriction Spurs Planning from Reverse Mortgage Industry

The shortened timetable for the restriction of the London Interbank Offered Rate (LIBOR) index to serve as the basis for adjustable-rate reverse mortgages has caused the reverse mortgage industry to take action, as the reverse mortgage trade association and capital markets experts have engaged in dialogue with government officials with the aim of adjusting the […]

Reverse Mortgage-backed Securities See a ‘Banner’ Production Month in August

The production of new Home Equity Conversion Mortgage-backed securities (HMBS) totaled approximately $859 million in August as both recovered capital markets and lower interest rates continue to strengthen new production, marking a “banner month” as HMBS issuers continued to see pronounced new production totals. This is according to publicly available Ginnie Mae data and private […]

As LIBOR Sunset Nears, Reverse Mortgage Industry Prepares for What’s Next

The reverse mortgage industry, in consultation with federal agencies and industry stakeholders, is taking active steps to prepare for the sunset of the London Interbank Offered Rate (LIBOR) index, which is scheduled to end in 2021. Work between capital markets experts, the Department of Housing and Urban Development (HUD), the Government National Mortgage Association (GNMA, […]

Reverse Mortgage Market ‘Stronger Than Ever,’ July Data Shows

The production of new Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) totaled approximately $1.42 billion in July as continuing capital markets recovery and low interest rates fueled strong new production and a large seasoned pool, making for the highest issuance level since February 2018. This is according to publicly available Ginnie Mae data and private […]

Origins: How a Modern Reverse Mortgage Trailblazer Shaped the Industry

Finding a product category that could be both served and shaped by someone’s unique experience in mortgage and corporate finance and capital markets would not be an easy thing for any professional to do, but that’s what New View Advisors partner and co-founder Joe Kelly saw with the reverse mortgage product category. Over the course […]

June Reverse Mortgage Volume Remains High, HMBS Could Indicate Stronger 2020

Home Equity Conversion Mortgage (HECM) endorsements fell 16.5% in June, however given the fact that the figure recorded in May was the highest the industry has seen in two years, the overall drop is modest and means that the June figure is still the second highest monthly total recorded in a year. Additionally, HECM-backed Securities […]

May Reverse Mortgage Endorsements Surge 215%, Best Total in Over 2 Years

Home Equity Conversion Mortgage (HECM) endorsements surged dramatically upward in the month of May, totaling 5,038 loans and making for the best single monthly total in over two years. This is according to data released by the Department of Housing and Urban Development (HUD) and compiled by Reverse Market Insight (RMI) and New View Advisors. […]