Reverse Mortgage Daily
- Origins: From Funeral Director to Reverse Mortgage OriginatorYou’ve likely seen him at industry events talking about how much he loves sales, and perhaps you’ve even been lucky enough to hand him a business card and get a $100 bill in return. Norcom Mortgage SVP of Reverse Lending John Luddy is a memorable personality to any reverse mortgage professional he comes into contact […]
- Forbes: Reverse Mortgages Can Help Pay for Long-Term CareBecause there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare […]
- Open Mortgage CEO on Growth Efforts, Company CultureA clearly-defined company culture, new technology adoption and a core footprint expansion are among the cornerstones that have turned Open Mortgage into a notable reverse mortgage lender in recent years. These are just a few of the topics discussed by Open Mortgage CEO Scott Gordon in the latest episode of The RMD Podcast, available now. […]
- Blue Ridge Bank N.A. Hiring for Major Reverse Mortgage Expansion [Sponsored]For prospective borrowers shopping for reverse mortgages, the positive impact of a good reputation simply cannot be overstated. It’s exactly that fact that encouraged Virginia-based Blue Ridge Bank N.A. to enter the reverse mortgage business, and is leading it now to focus on growth of the division both in terms of new hires, and loan […]
- The RMD Podcast #9: Scott Gordon, CEO of Open MortgageIn the ninth episode of The RMD Podcast, Open Mortgage CEO Scott Gordon joins RMD Editor and host Chris Clow! Initially trained as a computer programmer and engineer, Gordon sits down with Chris to discuss his path into the mortgage industry, how he identified opportunities in the reverse mortgage arena, as well as his thoughts […]
- FHA Appoints New Deputy Assistant Secretary of Single Family HousingThe Federal Housing Administration (FHA) this week announced the appointment of Joseph M. (Joe) Gormley as the Deputy Assistant Secretary for the Office of Single Family Housing, effective as of January 21. Gormley’s appointment comes after the departure of his predecessor Gisele Roget late last year, who went on to become Deputy Chief of Staff […]
- 3 Reverse Mortgage Factors to Fuel Market GrowthA continued favorable rate environment and increasing momentum on the proprietary side has started the reverse mortgage industry’s 2020 off on a decidedly positive note. If those elements can manage to continue through the year, then the industry will be in a very good position. This is according to perspectives shared by John Lunde, president […]
- WSJ: Forward Lenders Finding New Ways for Seniors to QualifyFor an industry that often tries to communicate the benefits of either a Home Equity Conversion Mortgage (HECM) or a proprietary reverse mortgage offering to American seniors, it may be surprising to learn that there is still a segment of older people – some of whom are quite advanced in age – that are entering […]
- Originators Debate What to Call Private Reverse MortgagesProprietary reverse mortgages are becoming increasingly prevalent in the modern home equity release industry, as evidenced by the amount of new products being created by lenders as well as the general optimism the industry is feeling as a direct result of those products’ larger place in the conversation. As proprietary reverse mortgage products become more […]
- Longbridge Adds 3 Hires to Wholesale DivisionMahwah, N.J.-based reverse mortgage lender Longbridge Financial announced the hiring of three new employees – two account executives and one partner support specialist – who will be working for the company’s wholesale lending division. Cesar Flores, a 10-year veteran of the reverse mortgage industry, joins Longbridge as a wholesale account executive. His experience has included […]
Reverse Market Insight
- HECM Originators – November 2019HECM endorsements dropped back -13.5% in November after a strong October, with Wholesale easing -4.5% while Retail suffered a bigger decline at -18.6%. The top 10 as a group again slightly under-performed the industry (-13.8%) but some lenders had strong performances: Finance of America gained 16.6% to 387 loans, their highest total since July Sun… […]
- HECM Lenders – December 2019HECM endorsements dropped -13.4% in December, ending at 32,482 for calendar 2019. All 10 of the regions we track were down reflecting a broad based, but mostly shallow volume decline. Four of the top ten lenders were up on the month: RMF led the way, rising 61.2% to 303 loans in their best monthly total… […]
- HECM Originators – October 2019HECM endorsements grew 36% in October, powered by Retail rising 45% and Wholesale perking up 22.7%. That’s the highest monthly total since February, and that was fueled more by a backlog of endorsement activity rather than the higher origination volumes driven by lower interest rates as is currently the case. The top 10 as a… […]
- HECM Lenders – November 2019Sorry for the late update here! We’ve been under the weather this week… Click the image below for the full report.
- HECM Lenders – October 2019HECM endorsements increased 36.2% in October, providing a nice sugar rush to this post-Halloween morning for reverse industry folks The regions were all higher, with several showing significant growth: New York/New Jersey jumped 72% to 215 loans New England gained 59% to 124 loans Southwest leaped 53.9% to 314 loans 7 of the top 10… […]
- HECM Originators – August 2019HECM endorsements dropped -15% in August, with Retail declining -16.7% and Wholesale only slightly better at -12.4%. Most of the top 10 fared better than the industry, with 5 of the 9 (excluding Live Well) increasing on the month: High Tech put in its best showing since February, rising 171% to 76 loans after a… […]
- HECM Lenders – September 2019HECM endorsements increased 3.4% to 2,420 loans in September, continuing a second consecutive month of low production levels. The last time volume was lower than Aug-Sep was during the lingering effects of a partial government shutdown in January. The regions were mixed, with 4 reporting gains and 6 declining: Mid-Atlantic rose 17.4% to 169 loans… […]
- HECM Trends – July 2019HECM Trends is all about big picture changes and geographic highlights. With more changes on the horizon, let’s see what looks interesting below the surface level national statistics. Jan-July is down -32.3% compared to last year, but some spots are showing growth: Salt Lake City and County are both up, growing 11.8% and 5.3%, respectively… […]
- HECM Originators – July 2019HECM endorsements rose 8.2% in July, with Retail jumping 12.9% and Wholesale nudging 1.8% higher. 7 of the top 10 lenders gained on the month: Liberty grew 23% to 230 loans RMF increased 22.1% to 293 loans Synergy One gained 20.3% to finish with 178 loans Special shout out to Advisors Mortgage Group that jumped… […]
- HECM Lenders – August 2019HECM endorsements dropped -15% in August to 2,341 loans, throwing a little cold water on the industry after 6 months of relatively optimistic endorsement volumes eased concerns over Dec-Jan readings
