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Reverse Mortgage Daily

Origins: Embracing Change, Controlling the Narrative of Reverse Mortgages
For a lot of reverse mortgage originators, the story of their careers often begins in the traditional, forward mortgage space before finding a new home in reverse. From there, paths can take a number of different routes concerning how an originator chooses to appeal to and connect with a base of borrowers, and how best […]
FHA Proposes Further Revisions to Annual Lender Certification
The Federal Housing Administration announced Thursday some newly-proposed changes to its annual lender certification in an effort to, “better align with statute and regulation” in a way that does not undermine its ability to hold lenders accountable for compliance with FHA approval and continuing eligibility requirements. The agency made its initial proposal on the matter […]
The Inverted Yield Curve’s Potential Effects on Reverse Mortgages
The U.S. stock market fell sharply on Wednesday in response to an “inverted yield curve.” Historically, economists have seen this as a telltale sign that an economic recession is likely to transpire. “On Wednesday, the U.S. stock market tumbled after a reliable predictor of looming recessions flashed for the first time since the 2008 financial […]
Sanders Tweet Touts Importance of Aging in Place
In a Thursday tweet, Vermont Senator and 2020 Democratic presidential candidate Bernie Sanders advocated for his Medicare for All platform position by touting it as a solution to help older Americans age in place. The tweet attached a story from the Washington Post describing how the state of Maine appears unprepared to deal with the […]
[Webinar] Expanding Reverse Mortgage Market Opportunities with Proprietary Products
As more and more borrowers pursue proprietary reverse mortgages in addition to traditional Home Equity Conversion Mortgages, originators need to be aware of the full reverse mortgage product landscape—or face being left behind. This complimentary webinar, sponsored by Reverse Mortgage Funding LLC and developed by RMD, will explore how reverse mortgage originators can position proprietary […]
Bloomberg: Home Equity Tapping Company Figure to Hit $1 Billion Valuation
Figure Technologies, providers of alternative home equity tapping tools including a sale leaseback offering that is competitive with traditional reverse mortgages, is poised to become a “unicorn” after its latest round of financing; a term used to describe a startup that is valued at $1 billion or more. Co-founder and CEO of Figure Technologies Mike […]
Updated: FHA Eases Condo Rules, Expanding Reverse Mortgage Market
Through a new rule announced Wednesday, the Federal Housing Administration (FHA) is making it easier for condo owners to get reverse mortgages and other FHA financing. The FHA published a final regulation and policy implementation guidance this week establishing a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified […]
CNBC: U.S. Congress Contemplates New Retirement Measures, Social Security Solvency
The United States Congress will have an abundance of newly proposed legislation to discuss when it returns from its August recess, including several proposed bills that could have a substantive impact on American retirement. Among the provisions that will need to be debated in either one or both chambers of Congress is the Secure Act, […]
Mutual of Omaha Bank Acquired By CIT, Synergy One Remaining Behind
Nebraska-based Mutual of Omaha Bank has announced it will be acquired by Pasadena, Calif.-based CIT Bank in a deal valued at $1 billion, but the merger will not include mortgage arm Synergy One Lending. That business, including the reverse mortgage lending brand Retirement Funding Solutions (RFS), will remain under the Mutual of Omaha Insurance umbrella. […]
Oregon’s New Reverse Mortgage Tax Deferral Law May Slow Originations
A new law signed by Oregon’s governor in July has the potential to create a conflict with the Department of Housing and Urban Development (HUD) over a home’s property taxes and slow originations statewide according to one local loan officer, while representatives of Oregon’s state government contend that this isn’t necessarily the case. Late last […]

Reverse Market Insight

HECM Lenders – July 2019
HECM endorsements rose 8.2% in July to 2,754 loans. Lower interest rates on the 10 year swap rate in particular help HECM volume, plus an extra business day in July never hurts. Here’s the regional breakdown: Southwest jumped 51.8% to 299 loans Rocky Mountain gained 38% to 287 loans Midwest increased 31.5% to 213 loans… […]
HECM Lenders – June 2019
HECM endorsements dropped -5.6% in June, lending further support to the idea that 2,500 endorsements per month is the default volume setting for the industry right now. Some regions looked better than others: New England jumped 23.9% to 109 loans Northwest/Alaska grew 16.5% to 212 loans, despite Seattle and Portland both being down more than… […]
HECM Originators – April 2019
HECM endorsements grew 12.7% in April, with strong Wholesale growth (+21.2%) outpacing slower Retail results (+6.6%) but both contributing to a solid month of volume. Seven of the top 10 lenders gained on the month as they collectively outpaced the overall industry: Liberty jumped 66.4% to its highest level since March 2018 Synergy One grew… […]
HECM Lenders – May 2019
HECM endorsements dropped -7% in May, reinforcing the lumpiness and uncertainty around HECM volumes after an encouraging April tally. Most of the larger regions declined but a few of the lower volume regions built on April gains: Midwest jumped 23.1% to 213 loans, its highest level since October (outside of the catchup boost in Feb)… […]
HECM Originators – March 2019
HECM endorsements declined in March without the tailwind from loans built up during the government shutdown. The decline was fairly balanced, with Retail dropping -36.1% while Wholesale shed -35.1%. All of the top 10 lenders dropped, so let’s dig further to see smaller originators that overcame the industry decline: The Federal Savings Bank jumped 366.7%… […]
HECM Lenders – April 2019
HECM endorsements grew 12.7% to 2,901 loans in April after several months of noisy data due to the government shutdown and a seasonal slowdown at the end of 2018. Combined with the highest HECM case number issuance level in March since last August (strongly correlated with applications for HECMs), reverse is looking fairly positive as… […]
HECM Originators – February 2019
HECM endorsements jumped 142.6% to 4,000 loans in February, as the backlog in endorsements from a partial government shutdown was completed. Retail grew 131.8% to 2,343 loans and 58.6% of the industry Wholesale increased 159.7% to 1,657 loans Several lenders enjoyed banner performances: Finance of America soared 806% to 725 loans One Reverse leaped 376%… […]
HECM Lenders – March 2019
HECM endorsements dropped -35.7% to 2,573 loans. That is certainly a lot, but is actually very close to the average for Dec-Feb we discussed last month as a way of reducing the noise of the government shutdown shifting volume between those months. Now that we finally have a clean month it looks like the last… […]
HECM Originators – January 2019
HECM endorsements dropped -5.7% to 1,649 loans in January, which we already discussed extensively. Retail declined -6%, coming close to dropping below 1,000 loans for the month Wholesale did better, giving up -5.3% to end at 638 loans Thankfully we already know that February was significantly better, so we can avoid the worst pangs of… […]
HECM Lenders – February 2019
HECM endorsements rocketed 142.7% higher to 4,002 loans, but it’s hard to feel too excited about it given part of that might be catch-up from January’s government shutdown. Regardless, it’s a good test of who in our industry is an eternal optimist vs. a more stoic realist approach – we already know the pessimists left… […]