The Top 10 Reverse Mortgage Stories of 2020

It’s likely fair to say that compared with the outlook one year ago, as we were anticipating the arrival of 2020 in the waning days of the prior year, things generally worked out quite a lot differently than people were expecting. 2020 brought with it an enormous set of challenges for people all over the […]

Reverse Mortgage Volume Dips Led by Wholesale in October

Home Equity Conversion Mortgage (HECM) endorsements fell by 4.6% in the month of October 2020, for a total of 3,741 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 […]

Wholesale Reverse Mortgage Segment Outperforms Retail in September

Home Equity Conversion Mortgage (HECM) endorsements fell by 1.9% in the month of September 2020, for a total of 3,923 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 […]

Top 10 Reverse Mortgage Lenders Reshuffle as Industry Gains in 2020

While the major players composing the top 10 reverse mortgage lenders has remained pretty consistent for the majority of 2020, the rankings within those top 10 have shifted as lenders have found themselves acclimating to a heightened business climate stemming from a low interest rate environment, and the additional pressure on seniors’ finances caused by […]

Quicken Loans Files for IPO After Three Years of Annual Profits

Rocket Companies, Inc. — parent company for Quicken Loans and Rocket Mortgage — has filed for an initial public offering (IPO) to allow the trading of its shares on the U.S. stock market after disclosing an annual profit for the past three years. This is according to original reporting at Bloomberg. “The Detroit-based company, which […]

Reverse Mortgage Industry Hopeful for Private Product Expansions

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 […]

February Reverse Mortgage Endorsements Dip After ‘Blistering’ January

Home Equity Conversion Mortgage (HECM) endorsements decreased by 13.6% to 3,386 loans for the month of February 2020, a slight dip compared to the prior month, which recorded the highest endorsement levels since February 2019. The majority of the top 10 lenders recorded endorsement decreases, while 7 of 10 tracked regions were down, as well. […]

Quicken Halts One Reverse Mortgage Operations, Shifts Focus to Rocket Mortgage

Top-10 reverse mortgage lender One Reverse Mortgage is “pausing” its operations, under the direction of its parent company Quicken Loans. The San Diego-based One Reverse reportedly informed its employees Monday that their jobs will be transitioned to roles within Quicken Loans in order to refocus their operations on conventional lending. One Reverse will complete its […]

Retail Segment Leads October Jump in Reverse Mortgage Endorsements

Home Equity Conversion Mortgage (HECM) endorsements rose by 36% in the month of October, for a total of 2,551 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The rise was led by the retail endorsement segment of business, which experienced an increase of 45% that month, while wholesale levels recorded […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. Rank […]