Reverse Mortgage Market ‘Stronger Than Ever,’ July Data Shows

The production of new Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) totaled approximately $1.42 billion in July as continuing capital markets recovery and low interest rates fueled strong new production and a large seasoned pool, making for the highest issuance level since February 2018. This is according to publicly available Ginnie Mae data and private […]

May’s ‘Dramatic’ Reverse Mortgage Volume Recovery Led by Retail

Home Equity Conversion Mortgage (HECM) endorsements rose dramatically by 214.8% in the month of May 2020, for a total of 5,027 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 235.5% that month, while wholesale […]

June Reverse Mortgage Volume Remains High, HMBS Could Indicate Stronger 2020

Home Equity Conversion Mortgage (HECM) endorsements fell 16.5% in June, however given the fact that the figure recorded in May was the highest the industry has seen in two years, the overall drop is modest and means that the June figure is still the second highest monthly total recorded in a year. Additionally, HECM-backed Securities […]

Longbridge Reports Record Reverse Mortgage Volume, Expands Wholesale Operations

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial reports that it has seen a significant uptick in loan volume during the COVID-19 coronavirus pandemic, which has led to a major expansion of its wholesale operations and staff in order to compensate for the higher level of business during the second quarter of the year. That higher […]

Major Lenders Buck April Endorsement Dive With Big Gains

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 […]

May Reverse Mortgage Endorsements Surge 215%, Best Total in Over 2 Years

Home Equity Conversion Mortgage (HECM) endorsements surged dramatically upward in the month of May, totaling 5,038 loans and making for the best single monthly total in over two years. This is according to data released by the Department of Housing and Urban Development (HUD) and compiled by Reverse Market Insight (RMI) and New View Advisors. […]

Origins: RMI’s John Lunde on Reverse Mortgage Education and More

Reverse mortgage lenders large and small have come to rely on the data and analysis of Reverse Market Insight over the years, since the company launched in 2007. Under the leadership of co-founder John Lunde, the company offers industry data analysis including market-level data lenders can use to help drive their business forward. John Lunde […]

Some Lenders Buck March Reverse Mortgage Declines

Home Equity Conversion Mortgage (HECM) endorsements fell by 14.1% in the month of March 2020, for a total of 2,905 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 17% that month, while retail levels […]

Reverse Mortgage Refinances Increase, With Interest During Pandemic

While lenders have reported an increase in general interest around reverse mortgages during the COVID-19 pandemic, both from prospective borrowers and financial planning professionals, several factors are also leading to an increase in refinances of existing reverse mortgages at the same time. Given the pre-pandemic climate and subsequent economic downturn, the market has seen an […]

Why April Reverse Mortgage Numbers Don’t Tell the Full Story

Reverse mortgage endorsement volume for April as reported by the Department of Housing and Urban Development earlier this week indicated a month-over-month decline of roughly 45% — to just over 1,600 loans. But the numbers aren’t reflective of what’s happening in the market, several industry sources have shared with RMD, particularly at a time when […]