At a time when reverse mortgage lenders are finding themselves with a broad, more robust product landscape, finding new ways to connect with borrowers and simplify the reverse mortgage process becomes increasingly important. With additional product options comes new ways for technology to play a part in multiple levels of the business, and reverse mortgage […]
The reverse mortgage industry as a whole has had to contend with a lot of structural changes in recent years, whether coming from the federal government in the form of mandated alterations to the Home Equity Conversion Mortgage (HECM) program, or just in terms of adapting to serve a wider swath of senior clientele who […]
A clearly-defined company culture, new technology adoption and a core footprint expansion are among the cornerstones that have turned Open Mortgage into a notable reverse mortgage lender in recent years. These are just a few of the topics discussed by Open Mortgage CEO Scott Gordon in the latest episode of The RMD Podcast, available now. […]
In the ninth episode of The RMD Podcast, Open Mortgage CEO Scott Gordon joins RMD Editor and host Chris Clow! Initially trained as a computer programmer and engineer, Gordon sits down with Chris to discuss his path into the mortgage industry, how he identified opportunities in the reverse mortgage arena, as well as his thoughts […]
Reverse mortgage technology platform ReverseVision announced last week a new partnership with cloud-based sales and management platform OptifiNow, which will use ReverseVision’s Loan Import application programming interface (API) to streamline the loan origination process for Texas-based Open Mortgage, a mutual client. The integration of ReverseVision’s API links OptifiNow’s cloud-based software as a service (SaaS) sales […]
Home Equity Conversion Mortgage (HECM) endorsements dropped by 13.4% to 2,461 loans for the month of December 2019, another decrease along similar lines to the one observed in November with the six of the top 10 lenders recording endorsement decreases. This is according to the December HECM Lenders report compiled by Reverse Market Insight (RMI). […]
A great deal of the optimism that people have for the future of the reverse mortgage industry rests in the potential for proprietary products, largely unbound by the same kinds of regulations that govern the more typical products in the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program. As more lenders continue to […]
Last week, the Federal Housing Administration released a Mortgagee Letter (ML) detailing that the lending limit for government-backed Home Equity Conversion Mortgage (HECM) loans would be increasing for the fourth consecutive year in a row, to $765,600 beginning with case numbers assigned on January 1, 2020. This represents a welcome development for many reverse mortgage […]
The reverse mortgage market, comprising both traditional Home Equity Conversion Mortgages (HECMs) and proprietary loans, has been through a turbulent year in 2019. While year-over-year volume has shown a decline in the number of HECM originations when comparing the fiscal year data of 2018 and 2019, a number of other more positive developments have occurred. […]
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. RankCompany […]
