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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


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


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 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


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


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


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


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 Funding Looks to Attract ‘Forward’ Brokers with New Software

Reverse Mortgage Funding recently rolled out a new software program designed to streamline the application process, a move that the Bloomfield, N.J.-based firm hopes will make Home Equity Conversion Mortgages more accessible to “forward” lenders. The company’s new “Loan Qualification” engine allows brokers who use its proprietary Tango Reverse origination software to perform a kind of pre-assessment on prospective borrowers. As the broker inputs all of the client’s information — including income...
Tags: News, California, Finance, Peel, FHA, Federal Housing Administration, HECM, Reverse Mortgage, RMI, O'Neil, Wendy Peel, John Lunde, Reverse Mortgage Funding, RMF, Lunde, Home Equity Conversion Mortgages


Number of Reverse Mortgage Originators Swells by 23%

The number of active Home Equity Conversion Mortgage originators has increased by 23.8% from this time in 2016, as overall endorsement levels continue to outpace previous years. Reverse Market Insight counted 759 active reverse mortgage originators in May 2017, or 146 more than the total number of participants back in May 2016. That’s significant growth, especially considering that the number of active originators declined between 2015 and 2016 by about 4.2%. The trend comes amid more good news ...
Tags: News, Colorado, Washington, Oregon, Finance, Data, Las Vegas, Denver, Pacific Northwest, Dana Point Calif, HECM, Reverse Mortgage, RMI, John Lunde, Lunde


Total Reverse Mortgage Endorsements Fall in April

In a somewhat expected fall back to Earth, reverse mortgage endorsements dropped between April and May, but as in previous months there are still some signs of overall volume growth. Home Equity Conversion Mortgage originators — including both Federal Housing Administration-approved firms and their non-FHA counterparts — logged a total of 5,034 endorsements in April, a drop of 6.0% from a particularly impressive March, according to the latest set of data from Reverse Market Insight. Retail endor...
Tags: News, Finance, Data, Earth, Liberty, OCN, FHA, Federal Housing Administration, Dana Point Calif, Ocwen, HECM, Reverse Mortgage, RMI, Liberty Home Equity Solutions, American Advisors Group, John Lunde


Reverse Mortgage Endorsements Trickling Downward, Still at Post-FA Highs

Home Equity Conversion Mortgage endorsements fell by 3.6% from April to May, according to the latest from Reverse Market Insight. The Dana Point, Calif.-based research firm counted 4,854 reverse mortgage endorsements among Federal Housing Administration-approved lenders last month, down from 5,036 in April and March’s recent record high of 5,364. The slow but steady slide may quell rumors of a HECM resurgence for now, and the recent drops also confirmed what RMI founder and president John Lund...
Tags: News, Finance, FHA, Federal Housing Administration, Dana Point Calif, HECM, Reverse Mortgage, RMI, American Advisors Group, Financial Assessment, John Lunde, Finance of America Reverse, Live Well Financial, Nationwide Equities, Reverse Mortgage Funding, Lunde


Reverse Mortgage Endorsements Hit Highest Levels Since August ’13, But…

The good news about reverse mortgage endorsement volume keeps coming, but as always, there’s a slight hitch to consider before declaring that the industry has awakened from a prolonged numbers slumber. According to the latest data from Reverse Market Insight, Home Equity Conversion Mortgage originators generated 5,355 endorsements — including both Federal Housing Administration-approved lenders and their non-approved counterparts — in March 2017, the most recent month for which the statistics we...
Tags: News, Finance, Data, FHA, Federal Housing Administration, Dana Point Calif, HECM, Reverse Mortgage, RMI, John Lunde, Lunde, RMD


Home Equity Levels Rise in Reverse Mortgage Hotspots

According to new data from CoreLogic, mortgage holders in the Western United States saw the greatest gains in home equity between 2015 and 2016 — a region that perhaps not coincidentally has tended to lead the nation in Home Equity Conversion Mortgage originations from month to month. Washington state homeowners with mortgages saw an average equity gain of a $31,000 from the final quarter of 2015 to the same period in 2016, with its southern neighbor Oregon following close behind at $27,000; tha...
Tags: Florida, New York, News, Colorado, California, Washington, Oregon, Finance, Massachusetts, Data, North Dakota, Alaska, Iowa, Nevada, Illinois, East Coast


Ever-Rising Home Prices May Not Boost Reverse Mortgage Market

Average single-family home prices in December 2016 were 7.2% higher than at the same point in 2015, according to a report released Tuesday by CoreLogic — but the gaudy percentage might not necessarily lead to immediate results for the reverse mortgage industry, which struggled in that same timespan. “It’s always better for the industry to have more home equity value available to potential clients, but it takes a while for that to translate to loan volume,” said John K. Lunde, president of Revers...
Tags: Florida, Washington, Oregon, Finance, Boston, Los Angeles, United States, Wyoming, Miami, District Of Columbia, Denver, Pacific Northwest, Dana Point Calif, Reverse Mortgage, Reverse Market Insight Inc, Lunde


Year in Review for Reverse Mortgages: Where Do We Go From Here?

The year 2016 was one that many might soon want to forget, and for a variety of reasons. The U.S. held its most entertaining presidential race—or controversial, depending on how you look at it. The world said goodbye to Prince, David Bowie and Leonard Cohen—and that’s only the shortlist of icons who left the world all too soon this past year. Oh, and the Chicago Cubs won their first World Series title in 108 years. So while 2016 will certainly go down in the history books for being an interestin...
Tags: News, Education, Retirement, Finance, David Bowie, Leonard Cohen, Chicago Cubs, FHA, Federal Housing Administration, Education Week, Bipartisan Policy Center, HECM, Reverse Mortgage, John Lunde, Lunde, NRMLA


The State of the Jumbo Reverse Mortgage Market in 2016

Just as reverse mortgages are a sliver within the broader mortgage lending marketplace, proprietary jumbo reverse products are the niche-within-the-niche. Without an extensive track record of performance history for today’s newer jumbo products, the rollout has been conservative at best. To date, just two lenders currently offer jumbo reverse mortgages. In September 2014, Finance of America Reverse (FAR) introduced its proprietary HomeSafe product. At the time, the HomeSafe was the newest jumbo ...
Tags: News, Finance, Hud, FAR, HECM, Reverse Mortgage, RMI, American Advisors Group, John Lunde, Finance of America Reverse, Lunde, Moody 's Investors Service, Finance of America Reverse FAR


Remembering Monte Rose: Reverse Mortgage Industry Pays Respects to Long-Time Vet

It is with great sadness that RMD remembers long-time reverse mortgage industry veteran Monte Rose, 65, who passed away last Wednesday afternoon in his bed, cause unknown at this time. An active participant in the reverse mortgage industry since 1991, Rose is survived by his wife, Debbie Rose, and their respective family. Rose’s career in the reverse mortgage industry dates back to the sector’s early days, when he worked as a reverse mortgage consultant for San Francisco-based Transamerica HomeF...
Tags: News, Finance, San Francisco, Southern California, Rose, MetLife, Currie, Monte, Irvine Calif, Newport Coast, Reverse Mortgage, Retirement Funding Solutions, John Lunde, Lunde


As Reverse Mortgage Volume Tightens, These Markets Are Letting Loose

As far as reverse mortgage volume is concerned in 2016, the industry is on track to see one of the lowest years for endorsements in recent history. Although constrained volumes have plagued many of the nation’s top-producing markets nationwide, other areas continue to demonstrate their resiliency to the widespread declines. Home Equity Conversion Mortgage (HECM) endorsements totaled 3,534 loans in July, signaling the lowest month for volume this year, according to the latest industry data tracke...
Tags: News, California, Finance, Sacramento, Los Angeles, San Francisco, Data, Portland, San Diego, Seattle, Denver, Reno, Phoenix, Honolulu, Rocky Mountain, Santa Ana


The Road Backwards: Reverse Mortgage Industry Outlook in 2016

New policy changes for the Home Equity Conversion Mortgage (HECM) program in recent years have had a lasting impact on the reverse mortgage sector. As the industry continues to adapt within the new marketplace, they face one of the lowest years for volume in recent memory. Just how low industry volume will finish in 2016 depends on what happens with application and loan funding activity during the third and fourth quarters of this year. But with the first six months of 2016 already in the books,...
Tags: Finance, Urban Institute, HECM, Reverse Mortgage, RMI, John Lunde, Lunde


Reverse Mortgage Volume Tanks 14% in May, Echoes 2014 Low-Point

Reverse mortgage volume continued its downward trend in May, plummeting to one of the lowest single-month endorsement totals in recent history, according to new industry . HECM endorsements fell 14.1% in May to 3,646 loans—the lowest monthly total since August 2014, when the industry struggled with the implementation of initial utilization restrictions, according to recent data released by Reverse Market Insight. In August 2014, HECM endorsements 3,256 units. May, which now represents the low...
Tags: News, Finance, Data, Liberty, Rocky Mountain, Great Plains, HECM, Reverse Mortgage, RMI, American Advisors Group, RMS, Financial Assessment, John Lunde, Finance of America Reverse, Reverse Mortgage Funding, Synergy One Lending