Reverse mortgage professionals are very encouraged by recent revisions made to forms required for condo approvals, but that’s not to say that additional work to streamline the process further is out of the question.
Open Mortgage
Open Mortgage CEO Scott Gordon sits down with RMD to discuss how his company has more than doubled its total volume in two years, and what plans it has for reverse mortgages in 2021 and beyond.
To close out Reverse Mortgage Daily’s industry coverage in 2020, we took a look at the top stories of the year that garnered the highest readership based on our internal data. To begin the new year, we also took a look at four key trends that the reverse mortgage industry should keep an eye out […]
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 […]
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 […]
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 […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 6% in the month of August 2020, for a total of 4,007 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 […]
Home Equity Conversion Mortgage (HECM) for Purchase (H4P), a transaction in which a reverse mortgage can be used to fund the purchase of a new home, represents only a small share of the full activity of the larger reverse mortgage business, a figure pegged at 6.7% according to 2019 HMDA data. However, two lenders who […]
Home Equity Conversion Mortgage (HECM) endorsements rose by 1.2%% in the month of July 2020, for a total of 4,254 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The rise comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]
Google will be implementing new targeting restrictions for its ads, preventing customers on its platform from targeting based on certain demographic factors including age. This is based on a communication that the tech giant distributed to users of its advertising platform, which was obtained by RMD. One of the newly-implemented restrictions involves targeting ads based […]
