Reverse Market Insight (RMI), in conjunction with an exclusive partnership with the National Reverse Mortgage Lenders Association (NRMLA), is developing new analytical products and services which will provide the reverse mortgage industry with market level data and benchmarks. “As the reverse mortgage industry evolves, we’ve recognized the fundamental need of reverse mortgage lenders and other market participants for industry data and analysis,” said John K. Lunde, President of RMI, based in Aliso Viejo.
Companies ranging in size from large national and global financial services companies to smaller mortgage broker operations will be able to subscribe to RMI’s services to obtain current and historical market trends, industry rankings, market developments, and product activity. RMI will offer a subscription based service whereby lender participants will provide data for aggregate market reporting which will also produce individual benchmarking reports and market analysis.
“While the traditional mortgage market takes a beating, the reverse mortgage industry is booming. Unfortunately, as with many new markets, there has been a conspicuous lack of reliable industry data,” said Lunde. “Even simple measures, such as lender market share, are currently just educated guesses.” We are able to get a good idea of HECM production but right now there is no way to track proprietary production. RMD readers should be familiar with RM Insight from the sample reports they provide for the monthly Top HECM Lenders posts.
“The industry recognizes a need to expand the depth and breadth of the analytics and data surrounding the reverse mortgage market and we are pleased to partner with RMI as the first step in this direction” said Peter Bell, President of NRMLA, headquartered in Washington, D.C.