Reverse Mortgage Daily
- Reverse Mortgages Could be Highly Beneficial to Mass Affluent Seniors, Study FindsA new study corroborates ways in which affluent borrowers can benefit from a reverse mortgage, especially when aiming to avoid investment volatility.
- Mr. Cooper Completes Reverse Servicing Portfolio Sale to MAMMr. Cooper has completed the sale of its reverse mortgage servicing portfolio to MAM, which has re-entered reverse servicing after selling RMS.
- Reverse Mortgage Volume Drops Slightly as HMBS Issuance Hits New Record in NovemberWhile reverse mortgage volume fell very slightly in November, the month still had the second-highest volume of the year while HMBS issuance broke an all-time record.
- New York Reverse Mortgage Co-op Bill Signed by GovernorA bill which would allow New York state co-op residents to take out a reverse mortgage loan has been signed by the state's governor.
- Open Mortgage Adds President Position, Appoints Industry VeteranOpen Mortgage has announced the creation of a new president role, and the appointment of a mortgage industry veteran to serve in it.
- Washington Post: Columnists Explore Reverse Mortgage AlternativesIn a new piece at the Washington Post, a pair of columnists describe for a reader potential alternatives to a reverse mortgage they said has not worked out.
- [Updated] Reverse Mortgage Lending Limit Rises to $970k in 2022 on Heels of FHFA LimitsFHA has announced 2022's reverse mortgage lending limit of over $970,000 on the same day that the FHFA released its updated conforming loan limits.
- WSJ: Biden Eyes Cordray for Top Fed Banking Regulator PostThe White House is considering Former CFPB Director Richard Cordray to serve as its top Fed banking regulator, according to the Wall Street Journal.
- Reverse Mortgage Capital Ratio Turns Positive, But No Time for ComplacencyFormer Deputy HUD Secretary Brian Montgomery and partners share thoughts on the MMI Report, and what reverse mortgage stakeholders should remember about it.
- Forbes: Reverse Mortgage Can Mitigate Investment RiskThe "Mortgage Professor" discusses a possible path for a reverse mortgage to mitigate investment risk in a new Forbes column.
Reverse Market Insight
- Consolidating – HECM Lenders November 2021HECM endorsements inched down -1.5% to 4,953 loans in November, consolidating gains from October with the second highest monthly volume of the year. Five of the ten regions were up on the month with both of the top two down keeping the industry overall from adding to last month’s gains: NY/NJ rose 8.3% to 157 […]
- HECM Originators – September 2021September saw a return to normal for HECM endorsements, with loan count rising 17.6% after a disappointing August to full recover to the tight range seen before that. Wholesale/broker volume rose 16.6% to hit the highest level in more than a year (likely surpassed in October) while Retail gained 19.3% to leave it just shy […]
- Jumping Higher – HECM Lenders October 2021HECM endorsements jumped 16.3% to 5,029 loans in October, in an emphatic move higher after a swoon in August. As always, it’s best to take a single month of endorsements with a grain of salt since lenders are focused on funding rather than endorsement (that’s where the money is). Midwest took its turn in the […]
- HECM Originators – August 2021August was a bit of a lost month for HECM endorsements, as we saw volume drop -14.1%. Some combination of summer vacations, endorsement lag times, and slowing business activity. Pick your favorite order. Which makes this a good month for other aspects of our HECM Originators report that don’t always show up: Open Mortgage is […]
- Bounce Back – HECM Lenders September 2021HECM endorsements bounced back 17.6% to 4,326 loans, with vacation season over and even the latest government shutdown averted (for now). The regions were almost uniformly higher, with a decline in NY/NJ preventing a clean sweep: Midwest leaped 50.3% to 242 loans Southeast/Caribbean grew 24% to 646 loans Mid-Atlantic added 20.5% to finish at 200 […]
- HECM Originators – July 2021HECM endorsements rose 2.8% in July to 4,276 loans. Wholesale declined for a fourth straight month, dropping -1.7% while Retail bounced back 5.9% from a poor June showing. Lenders fared better in the rising tide, with 6 of the top 10 lenders increasing volume. RMF jumped 55.8% to 642 loans, good for second highest for […]
- Dog Days – HECM Lenders Aug 2021HECM endorsements dropped -14.3% to 3,679 loans, as it felt like everyone caught up on 2 years of vacation this summer. The drop is a bit concerning given the industry had been above 4,000 loans for 8 consecutive months, but it remains to be seen if this will be a momentary endorsement blip. The regions […]
- HECM Originators – June 2021HECM endorsements dropped -4.2% in June to 4,158 loans. Wholesale declined -2.1% to outperform Retail (-5.6%) for the first time in 5 months. That subtle shift in channels showed up powerfully in lender performance, although once again just 3 of the top 10 lenders gained on the month. Mutual of Omaha surged 43.5% to 333 […]
- Fashionably Late – HECM Lenders July 2021HECM endorsements rose 3.2% in July to 4,293 loans, in a slightly delayed release due to system updates at HUD. While we again saw only 3 of the 10 regions increase volume, all 3 were in the top 5 volume regions and that made all the difference: Pacific/Hawaii jumped 11.2% to 1,643 loans – almost […]
- HECM Originators – May 2021HECM endorsements rose 3.8% in May, with Retail (+10.7%) outperforming Wholesale (-5%) for the 4th consecutive month. Only 3 of the top 10 lenders increased volume in May, but putting that together with Retail dominance should make the top performing lender no surprise: AAG lapped the field, jumping 32% to put 1,000+ loans between them […]
