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 […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 5.9% to 4,007 loans for the month of August 2020, a slight dip on the August numbers but still a high figure overall in emphasizing that the reverse mortgage business remains on strong footing during the COVID-19 coronavirus pandemic. This is according to the August HECM Lenders […]
The Federal Reserve will be instituting a major shift in its posture toward achieving economic stability, maximum employment and manageable inflation according to a Thursday announcement by Chairman Jerome Powell. This signals an approach that could mean the Fed will no longer raise interest rates in its efforts to keep the unemployment rate low, and […]
Austin, Tex.-based multi-channel mortgage lender Open Mortgage announced on Wednesday that it is suspending its ad buying on social media platforms owned by Menlo Park, Calif.-based Facebook in protest of those platforms’ policies related to the proliferation of misinformation and hate speech, the company said. The lender is joining prominent corporations including beverage maker The […]
The ability to conduct business through non-traditional means has become a necessity for virtually every company that has continued operations throughout the COVID-19 coronavirus pandemic, and reverse mortgage companies are no exception. Scott Gordon One reverse mortgage company that has continuously reiterated its dedication to technological innovations is top 10 lender Open Mortgage, as CEO […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 47.8% that month, while retail levels […]
This week, the Federal Reserve took an extraordinary step to contain the economic impact of the global coronavirus outbreak by slashing interest rates in the biggest single rate cut the central bank has ever made. It makes for the biggest one-time cut — half a percentage point — and the bank’s first emergency rate move […]
Home Equity Conversion Mortgage (HECM) endorsements fell by 13.6% in the month of December 2019, for a total of 2,456 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 21.1% that month, while wholesale levels […]
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 […]
