Posts filtered by tags: Reverse Market Insight[x]


 

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


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


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


HighTechLending Hires Powell to Lead National Retail Sales

HighTechLending, which markets reverse mortgages under the trade name AmericanSenior, this week announced the hire of Marcus Powell as national retail sales manager. Powell, formerly of Liberty Home Equity Solutions and Security One Lending, will join the Irvine, Calif.-based HighTechLending’s new digital marketing team. “Together, we have built a robust sales and marketing engine that will support our retail branches and TPO partners with quality, exclusive lead solutions to help grow our volum...
Tags: News, Finance, Powell, Currie, Irvine Calif, Reverse Mortgage, Liberty Home Equity Solutions, TPO, High Tech Lending, Reverse Market Insight, Vivian Dang, HighTechLending, Don Currie, Nancy Davidson, Marcus Powell


Reverse Mortgage Volume Falls to 2005-Era Lows

Reverse mortgage volume continued on a downward trajectory in June, falling 15% relative to May endorsements, according to Reverse Market Insight. With a total tally of 2,838 Home Equity Conversion Mortgages endorsed in June, volume is at its lowest monthly level since May 2005, RMI noted in its . Many have speculated about the “new normal” for reverse mortgages following major program changes implemented in October 2017, and originators this week weighed in on the volume losses they are experi...
Tags: Finance, New England, Great Plains, Reverse Mortgage, RMI, AAG, Finance of America Reverse, Reverse Market Insight


HighTechLending Targets Aggressive Growth in 2018

HighTechLending, Inc. on Tuesday announced a hire and two promotions, kicking off the new year with multiple personnel moves and a strategic shift in direction. The Irvine, Calif.-based firm — which does business as AmericanSenior — brought on Nancy Davidson, an experienced DE underwriter, to serve as vice president of reverse operations, directly in charge of its HECM operations department. Davidson has nearly three decades of experience in the forward and reverse lending spaces, according to t...
Tags: News, Finance, South Pacific, Davidson, Prieto, Irvine Calif, HECM, Reverse Mortgage, American Advisors Group, High Tech Lending, Reverse Market Insight, HighTechLending, Adrian Prieto, Joan Imelio, Don Currie, HighTechLending Inc


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


1st Reverse Mortgage USA Hires Todd Zurik in Houston

1st Reverse Mortgage USA recently hired Todd Zurik as a senior loan consultant in its Houston office. The Houston-area native and graduate of Stephen F. Austin State University in Nacogdoches, Texas has previously worked as a retail lending branch manager, wholesale lending account manager, and a foreclosure liquidator during his more than 30 years in the lending industry. “Todd is a valuable member of the 1st Reverse Mortgage USA retail team,” 1st Reverse vice president Dan Harder said in a rel...
Tags: Usa, News, Finance, Houston, Denver, Stephen, Todd, HECM, Reverse Mortgage, Zurik, Walter Investment Management Corp, Reverse Market Insight, Cherry Creek Mortgage, 1st Reverse Mortgage USA, Dan Harder, 1st Reverse


1st Reverse Mortgage Hires Todd Zurik in Houston

1st Reverse Mortgage USA recently hired Todd Zurik as a senior loan consultant in its Houston office. The Houston-area native and graduate of Stephen F. Austin State University in Nacogdoches, Texas has previously worked as a retail lending branch manager, wholesale lending account manager, and a foreclosure liquidator during his more than 30 years in the lending industry. “Todd is a valuable member of the 1st Reverse Mortgage USA retail team,” 1st Reverse vice president Dan Harder said in a rel...
Tags: News, Finance, Houston, Denver, Stephen, Todd, HECM, Reverse Mortgage, Zurik, Walter Investment Management Corp, Reverse Market Insight, Cherry Creek Mortgage, 1st Reverse Mortgage USA, Dan Harder, 1st Reverse, Todd Zurik


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