Posts filtered by tags: John Lunde[x]


 

HighTechLending Aims to Build on January Volume Spike

While most lenders saw reverse mortgage volume fall in January, one among the top-10 saw a notable increase in closings. As noted in Department of Housing and Urban Development data released in January and analyzed by Reverse Market Insight (RMI) earlier this month, HighTechLending (HTL) saw a notable 513 percent jump to 49 loans, an outlier when compared with the other companies listed. HTL’s growth rate significantly outpaced the growth percentage at larger companies including Liberty Ho...
Tags: Featured, Finance, Currie, Department of Housing and Urban Development, Lenders, RMI, Liberty Home Equity Solutions, AAG, American Advisors Group AAG, John Lunde, Lunde, HighTechLending, Don Currie, Htl


Confronting Four Reverse Mortgage Misconceptions

An opponent of reverse mortgage products recently wrote two columns at Forbes discussing reasons that the business should be avoided, and that potential borrowers searching for ways to fund their retirements would be better served by exploring other financial options. RMD reached out to Professor Teresa Ghilarducci from The New School’s department of economics to expand on the points she made in a January Forbes article saying that reverse mortgages are “a bust” because a senior’s average hom...
Tags: Featured, Education, Finance, United States, Social Security, Forbes, CFPB, U S Census Bureau, Consumer Financial Protection Bureau, New School, Teresa Ghilarducci, John Lunde, Lunde, Boston College Center for Retirement Research, The New School, Reverse Market Insight


Forbes Offers Reasons to Avoid Reverse Mortgages

There are at least four major reasons that potential borrowers should avoid taking a reverse mortgage, according to economics professor Teresa Ghilarducci of The New School based in New York, N.Y. in a new column at Forbes. While admitting that reverse mortgages may work for some, she says that is not true of everyone. However, at least one reverse mortgage expert finds flaws in the reasoning behind some of the stated points. The first of her stated reasons to avoid reverse mortgages revolves...
Tags: New York, Featured, Education, Finance, Data, Forbes, New School, Teresa Ghilarducci, John Lunde, Lunde, The New School, Reverse Market Insight, Ghilarducci, Forbes While


January’s Reverse Mortgage Endorsement Data Clouded by Government Shutdown

Home Equity Conversion Mortgage (HECM) endorsements dipped 5.8 percent to 1,649 loans in the month of January. The recent federal government shutdown, the longest in American history, has obfuscated the data to a point that this endorsement figure likely doesn’t fully relate the whole story. A few days after the shutdown first began, new endorsements of HECM loans were halted completely by the Federal Housing Administration (FHA) due to the lapse in appropriations, which lasted 35 days and af...
Tags: Congress, Finance, White House, Congressional, Federal Housing Administration FHA, RMI, Liberty Home Equity Solutions, AAG, John Lunde, HECM Lenders


Government Shutdown’s Reverse Mortgage Impact, Big and Small

The partial shutdown of the United States federal government that is currently in effect has become the longest one in history, ending its 30th consecutive day on Monday and having widespread ramifications for over 800,000 federal workers and dozens of federal agencies. While direct ramifications to the production of reverse mortgage business have been minimal according to originators, the shutdown’s effects on different aspects of reverse business can still be felt, particularly when looking...
Tags: Featured, Congress, Washington, Finance, White House, Regulation, United States, New York Times, Hud, SEC, Products, Aba, U.s. Government, Freddie Mac, FHA, Urban Institute


December HECM Endorsements Drop 31%, Marking New Low

Home Equity Conversion Mortgage (HECM) endorsements dropped again in December by 31.4 percent, representing a second consecutive new low in volume since the influential changes to principal limit factors (PLFs) instituted by the U.S. Department of Housing and Urban Development (HUD) in October 2017. “If the government shutdown didn’t get you down for year end, this last round of HECM endorsement numbers should have done the trick,” said John Lunde, founder and president of Reverse Mortgage In...
Tags: Finance, Great Plains, Federal Housing Administration FHA, RMI, John Lunde, Lunde


Reverse Mortgage Outlook 2019: Getting Back to Basics

As the reverse mortgage industry prepares to begin the new year in earnest, the cumulation of changes to the Home Equity Conversion Mortgage (HECM) product and evolving situations for prospective borrowers will have to be addressed in 2019. To that end, RMD has been seeking insight from reverse mortgage professionals and thought leaders in order to gauge how they view the potential for business in the new year. For a comprehensive outlook on 2019, RMD reached out to John K. Lunde, president o...
Tags: Featured, Finance, FHA, HECM, John Lunde, Reverse Market Insight Inc, John K Lunde, PLF


[Updated] Reverse Mortgage Lending Limit To Rise in 2019

The lending limit for federally-backed reverse mortgages is increasing for the third consecutive year in a row and is set to rise to $726,525 in 2019. The Department of Housing and Urban Development (HUD) announced on Friday via Mortgagee Letter 2018-12 a maximum claim amount of $726,525 for calendar year 2019, up from $679,650 in 2018. HUD calculates this figure at 150 percent of the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac, which was announced by the Fed...
Tags: Finance, Hud, Freddie Mac, Steve Irwin, Virgin Islands, Fannie Mae, Department of Housing and Urban Development HUD, HECM, Mortgagee Letter, John Lunde, Alaska Hawaii Guam, Federal Housing Finance Agency FHFA, Elizabeth Ecker, HUD HUD


Reverse Mortgage Lending Limit To Rise in 2019

The lending limit for federally-backed reverse mortgages is increasing for the third consecutive year in a row and is set to rise to $726,525 in 2019. The Department of Housing and Urban Development (HUD) announced on Friday via Mortgagee Letter 2018-12 a maximum claim amount of $726,525 for calendar year 2019, up from $679,650 in 2018. HUD calculates this figure at 150 percent of the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac, which was announced by the Fed...
Tags: Finance, Hud, Freddie Mac, Steve Irwin, Virgin Islands, Fannie Mae, Department of Housing and Urban Development HUD, HECM, Mortgagee Letter, John Lunde, Alaska Hawaii Guam, Federal Housing Finance Agency FHFA, Elizabeth Ecker, HUD HUD


HECM Endorsements Hit New Low Following October 2017 Changes

Home Equity Conversion Mortgage (HECM) endorsements dropped in November by 17.4 percent, representing a new low in volume since HECM rule changes were put into effect by the U.S. Department of Housing and Urban Development (HUD) in October, 2017. “New lows, here we are,” said John Lunde, founder and president of Reverse Mortgage Insight (RMI), in introducing the new data. According to the HECM Lenders report from Reverse Market Insight, Federal Housing Administration (FHA)-approved lenders endor...
Tags: Finance, Great Plains, Madison Wis, RMI, Pacific Hawaii, John Lunde, Lunde, Fairway Independent Mortgage Corporation


Reverse Mortgage Endorsements See September Drop, Narrowly Missing All-Time Low

A new Home Equity Conversion Mortgage (HECM) originators report published by Reverse Market Insight (RMI) describes a drop in September that “narrowly” missed out an all-time monthly low since new rule changes were handed down in October of 2017. According to the report, HECM endorsements dropped -9.9 percent to 2,874 loans in September. The report also notes that the decline was “broad based,” showing very little difference between drops in the retail (-9.8 percent) and wholesale (-10.1 perc...
Tags: Finance, FHA, Time Low, HECM, RMI, John Lunde, Lunde


HECM Endorsements See Uptick in October

Reverse mortgage endorsement volume grew in October, rising 7.3% above the previous month. The report from Reverse Market Insight shows that FHA-approved lenders endorsed 3,091 loans last month with eight of the top 10 lenders experiencing growth. Endorsing 247 Home Equity Conversion Mortgages in October, One Reverse had the biggest gains of 24.7% over September. Following were Reverse Mortgage Funding with 22.5% growth and 218 loans, and Synergy One — which just last week announced its acquis...
Tags: News, Finance, New England, Southwest, FHA, HECM, Reverse Mortgage, Southeast Caribbean, John Lunde, Reverse Market Insight, Northwest Alaska RMI


HECM Endorsements Rise 9.8% in August; Recovery Still Slow

While recovery remains sluggish, Home Equity Conversion Mortgage endorsements continued to climb in August, rising 9.8% from July for a total of 3,191 loans, according to the latest data from Reverse Market Insight. The shows the gains were spread across both retail and wholesale channels, with retail up 8.2% and wholesale up 12.1%. This is the first time that both FHA and non-FHA originators experienced growth since January when the October 2017 principal limit changes were beginning to show ...
Tags: News, Finance, FHA, HECM, Reverse Mortgage, RMI, American Advisors Group, John Lunde, Lunde, RMD, HECM Lenders


HMBS Growth May Signal Slow Reverse Mortgage Recovery

Another potential sign of recovery for the reverse mortgage industry, Home Equity Conversion Mortgage-backed securities issuance grew for the second month in a row, according to the latest data from analytics firm Baseline Reverse. A total of $360 million in new production issuance was recorded in September, up from $340 million in August. Four of the top five lenders all grew in production, with leader AAG taking more than 27.3% of the market share and producing $98.4 million in HMBS issuance. ...
Tags: News, Finance, HECM, Reverse Mortgage, RMI, AAG, HMBS, John Lunde, Finance of America Reverse, Home Equity Conversion Mortgage, RMD, Dan Ribler, Ribler


Reverse Mortgage Endorsements Fall Again After Months of Growth

After experiencing a couple months of growth, reverse mortgage endorsements from Federal Housing Administration-approved lenders have dropped back to their lows of earlier this summer. Reverse Market Insight’s shows HECM endorsements down 9.9% with 2,880 loans in September. RMI president John Lunde told RMD that month-to-month endorsement data is bumpy by nature, and he expects it to be this way for at least a year. “In general, it’s going to be painful for awhile,” he said. All but one region...
Tags: Finance, FHA, Federal Housing Administration, New York New Jersey, Reverse Mortgage, RMI, Longbridge, Southeast Caribbean, AAG, John Lunde, Finance of America Reverse, Lunde


HECM Endorsements Rise 2.6%, Volume Expected to Increase

While volume remains low, overall Home Equity Conversion Mortgage endorsements rose by 2.6% in July, according to Reverse Market Insight’s most recent data. Up from 2,833 in June, lenders  last month. The increase was driven entirely by wholesale endorsements, which were up 12.2% over June for the first recorded increase since January, the month when endorsements reached their post-October 2 peak. Retail numbers lagged behind with a 3% decrease. Of the top 10 lenders, American Advisors Group le...
Tags: Finance, Dana Point Calif, Reverse Mortgage, RMI, American Advisors Group, AAG, John Lunde, Lunde


California Poised to Take Center Stage in Private Reverse Mortgage Market

As new proprietary reverse mortgage products are teased and released, California sits as a prime potential market for borrowers looking for home equity-tapping options outside of the federal program. Favorable tax laws, high property values, and a large retiree population are a few reasons why jumbos could be poised to take off in the state. This past year has seen a groundswell of proprietary products hitting the market as lenders adapt to a space with lower principal limits available through t...
Tags: Florida, News, California, Finance, Golden State, Mahwah N J, Dana Point Calif, HECM, Reverse Mortgage, Longbridge, Longbridge Financial, One Reverse Mortgage, California Association Of Realtors, John Lunde, Finance of America Reverse, Reverse Mortgage Funding


Reverse Mortgage Endorsements Drop 15% in June, Recovery to Take Time

Reverse mortgage endorsements dipped 15.5% between May and June of this year, according to the most recent update from Reverse Market Insight — and the long-term arc of the post-October 2 recovery is following a well-worn pattern. Both Federal Housing Administration-approved lenders and their non-approved counterparts in June, down from the 3,351 Home Equity Conversion Mortgages logged in May, which represented the only increase — albeit of just 0.1% — since January. Wholesale lenders suffered...
Tags: News, Finance, Data, Hud, FHA, Federal Housing Administration, Dana Point Calif, HECM, Reverse Mortgage, RMI, John Lunde, Lunde, PLF


Reverse Mortgage Originations Slide 17.3%, Wholesale Takes 28.7% Hit

Originators of Home Equity Conversion Mortgages saw endorsement figures drop 17.3% in March, according to the most recent figures from Reverse Market Insight — dragged down by a “stunning” 28.7% decline in wholesale originations. The industry, including both Federal Housing Administration-approved and non-approved lenders, logged 4,298 loans in March, representing the second consecutive month of sharp drops; February’s 5,195 was a 17.6% dip from January, when the full force of the pre-October 2 ...
Tags: News, Finance, Federal Housing Administration, Dana Point Calif, HECM, Reverse Mortgage, RMI, John Lunde, Nationwide Equities, Lunde, Omaha Bank Check


Bottom Falls Out of HECM Market with Just 3,345 Loans in April

After a March that saw significant declines in reverse mortgage originations, April brought a shower of more bad news for volume. Federal Housing Administration-approved lenders generated just 3,345 Home Equity Conversion Mortgages in April, according to the most from Reverse Market Insight — or a drop of 22.2% from March. “In case you haven’t been paying attention these last few months, HECM volume is seriously hurting after the October 2, 2017 changes from the FHA,” RMI observed in its data ...
Tags: News, Finance, Pacific, Calif, FHA, Federal Housing Administration, New York New Jersey, HECM, Reverse Mortgage, RMI, American Advisors Group, John Lunde, Nationwide Equities Corporation


Seattle Emerges as Bright Spot Amidst Reverse Mortgage Fallout

Despite the downturn in Home Equity Conversion Mortgage endorsement volume in February, largely attributable to program changes implemented in October 2017, several areas saw substantial year-over-year growth during the first two months of combined data in 2018. Those areas, Seattle and Portland, have outpaced the national 27.9% increase in year-over-year volume for January and February combined, according to data released this week from Reverse Market Insight. In January and February 2018, Seat...
Tags: News, Finance, Portland, Portland Oregon, Seattle, Reverse Mortgage, RMI, John Lunde, Seattle Emerges


January Reverse Mortgage Volume Highest Since ’11

After months of waiting for evidence of a surge, reverse mortgage origination numbers set a recent record in January. Federal Housing Administration-approved reverse mortgage lenders logged 6,313 endorsements last month, making it the best month for the industry since March 2011 according to the most recent from Reveres Market Insight. That’s a 32.5% growth in endorsements, and 48 new lenders entered the fray compared to the previous month. With this most recent data release, the industry can ...
Tags: News, Finance, Liberty, Portland, Hud, Seattle, Northwest, FHA, Federal Housing Administration, Department of Housing and Urban Development, Dana Point Calif, HECM, Reverse Mortgage, RMI, Liberty Home Equity Solutions, American Advisors Group


Full November Stats Show Reverse Mortgage Endorsement Surge

The full November reverse mortgage endorsement stats are out, showing the beginning of the pre-October 2 surge — but only on the retail side. Home Equity Conversion Mortgage originators generated 4,781 loans in November 2017, according to the from industry analysts Reverse Market Insight. That total includes Federal Housing Administration-approved lenders and their non-approved counterparts. Retail endorsements accounted for 2,692 of November’s haul, a 13.7% increase from the previous month. W...
Tags: News, Finance, FHA, Federal Housing Administration, HECM, Reverse Mortgage, RMI, Longbridge Financial, American Advisors Group, John Lunde, Synergy One Lending, Lunde, Home Equity Conversion Mortgage, PLF


Reverse Mortgage Endorsements Up in 2017, Fallout Likely Coming

Reverse mortgage lenders handily beat 2016 endorsement totals last year, aided by the rush to lock in principal limit factors ahead of major changes in October, but a predicted crash is close on the horizon. Federal Housing Administration-approved lenders logged 56,912 endorsements during calendar 2017, according to the most recent data from Reverse Market Insight. That’s a substantial gain over the 48,794 from 2016. Industry giant American Advisors Group once again topped the leaderboard, turni...
Tags: News, Finance, Liberty, Federal Housing Administration, Department of Housing and Urban Development, HECM, Reverse Mortgage, RMI, American Advisors Group, John Lunde, Finance of America Reverse, Reverse Mortgage Funding, Synergy One Lending, Lunde, PLF


Reverse Mortgage Endorsement Numbers Begin to Show Surge

The most recent reverse mortgage endorsement numbers show the start of a long-predicted surge caused by the introduction of lower principal limit factors in October. Home Equity Conversion Mortgage endorsements crept up 6.3% between October and November, with Federal Housing Administration-approved lenders turning in 4,782 loans. That’s according to the most recent report from industry analysts Reverse Market Insight, which credited the rush of applicants ahead of the deadline for the jump — but...
Tags: News, Finance, Liberty, Federal Housing Administration, WAC, Dana Point Calif, HECM, Reverse Mortgage, RMI, American Advisors Group, John Lunde, Finance of America Reverse, Synergy One Lending, Reverse Mortgage Solutions, Walter Investment Management Corporation NYSE, ReverseMortgages com Inc


Reverse Mortgage Volume Slides in September

Reverse mortgage endorsements dropped 6.7% between August and September, as the industry continues to await the surge associated with the rollout of new principal limit factors. Home Equity Conversion Mortgage originators — including those approved by the Federal Housing Administration and their non-approved countarparts — turned in 4,591 loans in September, according to the most recent analysis from Reverse Market Insight.  That’s a dip of 332 loans from August, which had represented a recent h...
Tags: News, Finance, Richmond VA, Federal Housing Administration, Dana Point Calif, HECM, Reverse Mortgage, RMI, John Lunde, Live Well Financial, Live Well, RMD, 1st Nations, Huron Valley Financial, Huron Valley


HECM Endorsements Jump in August, But Rule-Change Bump Still in Future

Reverse mortgage endorsements jumped 15.8% between July and August, with solid gains on both the retail and wholesale sides, but it’s still too early to see the effects of the recent mortgagee letter on actual origination demand. Home Equity Conversion Mortgage originators — including those approved by the Federal Housing Administration and their non-approved counterparts — generated 4,923 loans in the month of August, according to the most recent data from Reverse Market Insight. That’s a major...
Tags: News, Finance, Data, Federal Housing Administration, HECM, Reverse Mortgage, RMI, One Reverse Mortgage, RMS, John Lunde, Live Well Financial, Live Well, Lunde, RMD, High Tech Lending


Reverse Mortgage Industry Honors Sherry Apanay with Award

The reverse mortgage industry honored Sherry Apanay with its Jim Mahoney Distinguished Service Award, recognizing her contributions to the Home Equity Conversion Mortgage space. Apanay, chief sales officer at Finance of America Reverse, received the award at the Texas Mortgage Bankers Association’s 18th annual Reverse Mortgage Day celebration, held earlier this month in Austin, Texas. “The award is given to someone who gives more to the industry than she gets back,” FAR vice president of field r...
Tags: Texas, News, Finance, Norman, Sherry, Trump, Austin Texas, Lone Star State, University of Texas, FHA, Steve Irwin, National Reverse Mortgage Lenders Association, Federal Housing Administration, Brian Montgomery, Peter Bell, HECM


New Reverse Mortgage Rules Expected to Cut Volume, Margins

After a predicted September surge, reverse mortgage endorsement figures could take a significant hit once new principal limits and mortgage insurance premiums take effect October 2. The short-term effect could be the same as when the Department of Housing and Urban Development instituted Financial Assessment rules or made principal limit factor (PLF) changes in the past, according to Reverse Market Insight president and founder John Lunde — meaning a drop of 25%.  But an impending dip in endorse...
Tags: News, Finance, Hud, Nationwide, Wallace, Mahwah N J, Department of Housing and Urban Development, HECM, Reverse Mortgage, John Lunde, Nationwide Equities, Lunde, Glenn Wallace, PLF, Reverse Market Insight, Lamparillo


Reverse Mortgage Software Companies Report 2017 Influx

Companies that provide software services to the reverse mortgage industry have seen a boost in new users so far in 2017, providing an indication that there may be increasing interest in the products from traditional “forward” lenders. The San Diego-based ReverseVision has added just under 500 brokers or new broker companies in 2017, according to vice president of sales and marketing Wendy Peel. Today, the 50 direct-user companies that have have licensed the software amount to double or triple th...
Tags: News, Finance, Cameron, San Diego, Peel, Jim Cameron, Greenwood Village Colo, HECM, Reverse Mortgage, RMI, Reverse Vision, ReverseVision, John Lunde, Megen Lawler, Bay Docs, Wendy Peel Today