April 2021 proved to be a generally strong month for the reverse mortgage business, in spite of a very slight reduction in HECM volume. Still, one analyst cautions against excessive refinances on newly-originated HECMs.
Both reverse mortgage endorsement volume and HMBS issuance recorded increases in March, on the heels of positive HECM program news in the MMI Fund. RMD speaks with an industry analyst about these developments.
In its Q1 2021 report on the MMI Fund, HUD details that reverse mortgage volume has fallen though the program’s budget execution subsidy has improved.
Reverse mortgage endorsement volume ticked downward in February while HMBS issuance held steady. Data indicates that reverse mortgages continue to perform well, according to analysts from Reverse Market Insight and New View Advisors.
Home Equity Conversion Mortgage (HECM) endorsements in January recorded a very strong increase at the beginning of the year, rising 10.8% to 4,539 loans. This makes January 2021 volume the highest that the industry has seen since May 2020, which marked an explosive increase in volume to over 5,000 loans. January also marks a continued […]
The end of the London Interbank Offered Rate (LIBOR) index, slated for the end of this year, requires urgent action and collaboration between the public and private sectors. Though LIBOR has previously been described by financial analysts as “the world’s most important number,” there is some limitation to its reach. That does not diminish the […]
Home Equity Conversion Mortgage (HECM) endorsements in December recorded an increase at the end of the year, rising 15.1% to 4,097 loans. This marks a reversal of recent courses, as HECM volume previously had been on a recent downward trend, but overall the year finished on a strong note by rising 27.3% to 44,661 loans […]
The Board of Directors for the National Reverse Mortgage Lenders Association (NRMLA) has elected its co-chairs to serve in the 2020-2021 term. Scott Norman of Finance of America Reverse (FAR) and Mike Kent of Liberty Reverse Mortgage were unanimously elected. Norman was first elected to NRMLA’s board in 2012, and serves as FAR’s VP of […]
The Home Equity Conversion Mortgage (HECM) program does not subsidize the traditional, forward mortgage program at the Federal Housing Administration (FHA), because the HECM program has shown significant economic improvement over the past few years; and the forward mortgage program’s volatility has demonstrably increased. This is according to reverse mortgage capital markets and investment banking […]
In the final monthly data drop of the year, Home Equity Conversion Mortgage (HECM) endorsements in November recorded another slight drop, sliding back 4.7% to 3,561 loans. This marks the third time since May that HECM volume fell below 4,000 loans, but still remains above numbers observed between February and April of this year according […]