Reverse Mortgage Daily
- New Interest Rate Data Could Signal Reverse Mortgage ‘Economic Gift’Recent changes in long-term metrics could indicate that the reverse mortgage market is charting a path for borrowers toward higher loan proceeds. This is according to data compiled and provided to RMD by industry expert and VP of Organizational Development at Finance of America Reverse Dan Hultquist. “Many in the reverse mortgage industry focus on […]
- Senior Housing Wealth Reaches New High of $7.14 TrillionHomeowners age 62 and older saw their collective housing wealth increase in Q1 2019 by 2.7 percent compared to the previous quarter. This constitutes an increase of approximately $104 billion to a record of $7.14 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. […]
- Local Spotlight: Reverse Mortgages in ColoradoIn February 2018, Denver, Colorado, snagged the number 2 spot on LendingTree’s list of cities with the highest usage rates of reverse mortgages. The demand for Home Equity Conversion Mortgages (HECMs) was so high, in fact, that the Denver Business Journal speculated that it could have contributed to the city’s low inventory of available properties […]
- Gallup: More Non-Retired Americans Expect Retirement Comfort, Despite Lack of SavingsConstituting a near-record high, 57 percent of non-retired Americans expect their retirements to be comfortable after having saved enough money to adequately support expenses and lifestyle choices, according to a poll conducted by Gallup in April of this year. This is the highest recorded figure for this expectation from the longstanding polling organization since 2004. […]
- Equity Tapping Company Partners With 8 of Top 10 Reverse Mortgage CompaniesWhile most new equity-tapping companies view reverse mortgage lenders as competition, one company is taking a very different approach by partnering with them directly. EasyKnock, based in New York City and last month the recipient of $215 million in investment funding, says it has partnered with eight of the top 10 reverse mortgage lenders on […]
- April Wholesale Growth Outpaces Retail Reverse Mortgage EndorsementsHome Equity Conversion Mortgage (HECM) endorsements saw rise of 12.7 percent in April, hitting a threshold of 2,899 loans according to the latest data from Reverse Market Insight (RMI). Interestingly, while retail endorsement growth experienced a hike of 6.5 percent that month, wholesale growth easily outstripped it by growing at a rate of 21.2 percent. […]
- Data Confirms Reverse Mortgage Borrowers Have Little Wealth Outside HomeAccording to recent research data, despite some of today’s reverse mortgage efforts targeted toward a population that is using home equity as a comprehensive planning tool, the borrower demographic of the past still holds true: borrowers of Home Equity Conversion Mortgages (HECMs) are made up of a major segment of primarily low-income individuals with little […]
- Arista Financial Targets Reverse Mortgage Acquisitions for Market EntryNew Jersey-based financial services holding company Arista Financial Corp., which offers financing options to small truck lenders through its wholly owned subsidiary Arista Capital, announced Wednesday that it intends to enter the mortgage business, but also added that it is pursuing avenues to enter the reverse mortgage sector to further diversify its holding company’s portfolio. […]
- Australian University to Study Slow Reverse Mortgage AdoptionResearchers at the University of New South Wales (UNSW) Business School in Sydney, Australia announced that they’re going to be studying behavioral and financial issues related to the reasoning behind the sluggish pace at which reverse mortgages have been adopted across that country. UNSW Senior Research Fellow Dr. Katja Hanewald and Professor Hazel Bateman will […]
- Ditech Finds ‘Stalking Horse Bidder’ for Reverse Mortgage SolutionsDitech Holding Corporation announced Tuesday that it has engaged in a court-supervised sale process for the stock and assets of Reverse Mortgage Solutions, Inc. (RMS) with Washington, D.C.-based Mortgage Assets Management, LLC, a company that oversees portfolios of mortgage servicing rights. The forward mortgage servicing and origination business, Ditech Financial LLC, will be acquired by […]
Reverse Market Insight
- HECM Originators – April 2019HECM 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 2019HECM 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 2019HECM 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 2019HECM 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 2019HECM 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 2019HECM 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 2019HECM 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 2019HECM 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… […]
- HECM Originators – December 2018HECM endorsements dropped -31.4% to 1,749 loans in December, marking a very troubling low point to end the year. Retail plunged -29.4% to 1,075 loans, just over 1/3 of the January 2018 figure Wholesale declined even farther, losing -34.4% to finish at just 674 loans The carnage was widespread, as each of the top 10… […]
- HECM Lenders – January 2019HECM endorsements dropped -5.8% to 1,649 loans, but it’s hard to honestly know what to make of that given the noise introduced by the government shutdown. HECM loans were not endorsed during the shutdown, so from December 22-January 27 we have a big gap in activity. The January total surely represents more loans that we’d… […]
