Reverse Mortgage Daily
- Reverse Mortgage Trade Association Seeks Clarity on New NBS RulesThe National Reverse Mortgage Lenders Association (NRMLA) has submitted a letter to the U.S. Department of Housing and Urban Development (HUD) seeking clarification on recently-announced rules concerning non-borrowing spouses (NBS) in reverse mortgage loans. The post Reverse Mortgage Trade Association Seeks Clarity on New NBS Rules appeared first on Reverse Mortgage Daily.
- Senate Confirms Todman as Deputy HUD SecretaryThe Senate has confirmed the new Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD), with representatives from the NHC and NRMLA offering congratulations. The post Senate Confirms Todman as Deputy HUD Secretary appeared first on Reverse Mortgage Daily.
- HUD Offers Statement in Support of Reverse Mortgage Program, Though Questions RemainThe U.S. Department of Housing and Urban Development (HUD) has given perspective on the Home Equity Conversion Mortgage (HECM) program to RMD, though some key questions about the program itself and adjacent issues remain unanswered. The post HUD Offers Statement in Support of Reverse Mortgage Program, Though Questions Remain appeared first on Reverse Mortgage Daily.
- Reverse Mortgages Could Help Retirees Avoid Medicare SurchargesA reverse mortgage could allow some financial planners to help their clients avoid surcharges associated with Medicare benefits, according to an article at ThinkAdvisor. The post Reverse Mortgages Could Help Retirees Avoid Medicare Surcharges appeared first on Reverse Mortgage Daily.
- Former Deputy HUD Secretary Talks Current HECM Program After Biden Budget’s ReleaseFormer Deputy HUD Secretary Brian Montgomery offers a few perspectives on the reverse mortgage program after the new administration released its 2022 budget proposal. The post Former Deputy HUD Secretary Talks Current HECM Program After Biden Budget’s Release appeared first on Reverse Mortgage Daily.
- Magazine Offers ‘4 Signs a Reverse Mortgage is a Good Idea’A new article in a New York-area magazine describes four scenarios in which a reverse mortgage may be a good idea for some seniors to explore. The post Magazine Offers ‘4 Signs a Reverse Mortgage is a Good Idea’ appeared first on Reverse Mortgage Daily.
- AAG Moves Into New Headquarters, Adopts Hybrid Workforce ModelReverse mortgage industry-leading lender American Advisors Group (AAG) has consolidated its headquarters in a new location in Irvine, Calif. and has largely moved to a hybrid model for its workforce. The post AAG Moves Into New Headquarters, Adopts Hybrid Workforce Model appeared first on Reverse Mortgage Daily.
- Class Valuation Acquires South Carolina-based AMC SouthEastern EvaluationClass Valuation has acquired Greenville, S.C.-based AMC SouthEastern Evaluation (SEE) in an effort to increase the company’s market share for AMC services in the southeastern United States. The post Class Valuation Acquires South Carolina-based AMC SouthEastern Evaluation appeared first on Reverse Mortgage Daily.
- Reverse Mortgage Prospects’ Testimonials, Refi Metrics Highlight Education HurdlesA recent story published in the Washington Post and authored by syndicated columnist Ilyce Glink and Samuel J. Tamkin compiled testimonials from potential reverse mortgage customers, highlighting the issues facing reverse mortgage education and the industry’s apparent reliance on refinances in this new commentary from RMD’s editor. The post Reverse Mortgage Prospects’ Testimonials, Refi Metrics Highlight Education […]
- Axios: Foreclosure Crisis Fears Appear to Be WaningWith pandemic moratoriums on foreclosures and evictions set to expire soon, some have worried about a wave of foreclosures hitting the nation. That fear may not come to pass, according to reporting at Axios. The post Axios: Foreclosure Crisis Fears Appear to Be Waning appeared first on Reverse Mortgage Daily.
Reverse Market Insight
- Winners Run – HECM Lenders May 2021HECM endorsements grew 3.9% in May, finishing at 4,350 loans. There’s a saying in the stock market that traders should let winning positions “run,” or continue to perform for you. This month we saw a parallel in the HECM market, as 6 of the 10 regions increased volume on the month and they were 6… […]
- HECM Originators – March 2021HECM endorsements rose 3.7% in March as Retail outpaced Wholesale, 4.1% to 3.3%. Several top 10 lenders recovered well from a poor February: HighTech continued its every other month cycle with 98 loans, a 133.3% jump from Feb and just above its January total of 94 loans RMF gained 26.7% to 564 loans to balance… […]
- Steady State – HECM Lenders April 2021HECM endorsements dropped -0.8% in April, finishing at 4,187 loans. With such a small decline nationally it was a bit surprising to have just 3 of the 10 regions we track show growth: Southwest had a banner month, popping 53.6% to 341 loans to fully recover from a disastrous March New York/New Jersey rose 16.1%… […]
- HECM Originators – Feb 2021HECM endorsements dropped -10.3% in February, as Wholesale/broker volume fell -12.8% and Retail/direct was slightly better at -8.1%. Each channel and the industry overall are almost identical to their December totals. Several lenders managed to buck the downturn though: Open Mortgage rose 10.6% to 219 loans #1 lender AAG gained 6.9% to 1,437 loans South… […]
- More Days – HECM Lenders March 2021HECM endorsements inched up in March, rising 3.8% to 4,220 loans. Growth was found in several regions, including the largest region rising to a new recent high: New England added 31.4% to finish with 113 loans, with HECM volume rising almost as much as Patriots free agency spending levels! Mid-Atlantic grew 20.5% to 235 loans… […]
- HECM Originators – January 2021HECM endorsements rose 10.7% in January, with Wholesale/brokers pacing 14.1% growth while Retail/direct managed 7.8%. Several lenders in the top ten marked impressive gains on the month as well: Hightech jumped 67.9% to 94 loans, bouncing back from a disappointing December Longbridge rose 59.8% to finish with 513 loans, a new high for the company… […]
- Short Month Blues – HECM Lenders February 2021HECM endorsements eased off a bit from January’s level, falling -10.4% to 4,066 loans. Part of this is due to a shorter month with only 19 working days. For comparison, February 2020 was down -13.6% from January 2020. Regions around the country didn’t have any good news to offset the top level decline either, with… […]
- Year End, Redux – HECM Originators Dec 2020HECM endorsements ended the year with a bang, but now we know that Wholesale/brokers led the way by rising 28% to Retail/direct channel’s 15.2% growth on the month. To put the channels into context, Retail is actually 12.2% above its average from Jan-Nov whereas even with the great finish Wholesale was slightly lower at 10.9%… […]
- Hello New Year – HECM Lenders January 2021HECM endorsements started the new year with a bang, rising 10.8% to 4,539 loans. That’s the highest since the surge in May as endorsements caught up from the COVID-remote working transition lull in March and April. Quite the positive start for the year! For the second straight month we saw 8 of the 10 regions… […]
- HECM Originators – November 2020HECM endorsements dropped -9.4% in November, with both Retail/direct and Wholesale/brokers declining more than -9%. In spite of the balance between business channels, 4 of the top 10 lenders actually grew in the month: HighTech bounced 71.4% to 96 loans Mutual of Omaha Mortgage continued an impressive run, rising 10.5% to 263 loans AAG increased… […]
