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 […]
When the reverse mortgage industry made its transition in appealing to members of the baby boomer generation from borrowers primarily born during the years of the so-called “silent generation,” it presented a very unique opportunity for growth in the business. Growing up in an era of post-World War II dominance that solidified America’s place as […]
Reverse Mortgage Funding (RMF) is now licensed to originate Home Equity Conversion Mortgages (HECMs) in the state of New York to homeowners and homebuyers, and will offer the loans through both its retail and wholesale channels. The addition of the lender’s New York license brings its total origination footprint into 49 states and the District […]
American Advisors Group (AAG) has retained its leading position as the top issuer of Home Equity Conversion Mortgage-backed securities (HMBS) in Q3 2019, with $1.38 billion of issuance leading to 23% of market share. This is according to publicly available GNMA data and private sources compiled by New View Advisors. The top five issuers are […]
While recent changes to rules governing condominium complex approvals by the Federal Housing Administration (FHA) will likely help the reverse mortgage industry to extend more loans to condo owners, new data concerning ways that condo borrowers are leveraging product features of proprietary reverse mortgages could indicate viable alternatives to more traditional Home Equity Conversion Mortgages […]
Borrowers of proprietary reverse mortgages are increasingly becoming more closely aligned with the typical profile of a Home Equity Conversion Mortgage (HECM) borrower, through two very identifiable attributes: loan amounts that are in-line with those of a more traditional HECM, and the use of a loan’s proceeds to consolidate and pay off existing debt of […]
The Department of Housing and Urban Development (HUD) announced earlier this month a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified first time homebuyers as well as seniors looking to age in place, allowing those seniors to engage in reverse mortgage loans for single condominium units. While HUD […]
Home Equity Conversion Mortgage (HECM) endorsements rose by 8.2 percent to 2,754 loans for the month of July 2019, with a lower 10-year SWAP interest rate and an extra day of business helping to provide a volume bump. This is according to the July HECM Lenders report compiled by Reverse Market Insight (RMI). “The additional […]
Bloomfield, N.J.-based lender Reverse Mortgage Funding (RMF) announced the appointment of Tim Griffin as an account executive, who will be responsible for building and maintaining third-party originator (TPO) relationships with brokers, principal/authorized agents and correspondent lenders. “Tim has more than 16 years’ experience working in the reverse mortgage industry,” said RMF President David Peskin in […]
Social media can be a powerful tool to leverage in marketing any kind of product, but finding the right place for it in marketing reverse mortgages can be complicated particularly because the products are geared toward the protected class of seniors. A panel of reverse mortgage marketing professionals all expressed different perspectives on how best […]
