Items Tagged with 'HECMs'

ARTICLES

  • A guide to grassroots reverse mortgage marketing

    Cost-effective tips for growing your business
    It’s a tough climate in the reverse mortgage space right now, and there are not many out there who are able to throw down big money on marketing. That’s why learning grassroots marketing skills to promote your services locally is more important than ever. Jim McMinn, lead sales trainer at Finance of America Reverse, offered his tips at NRMLA’s annual meeting on how to make grassroots marketing work for you.
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  • Finance of America Reverse rebrands as retirement solutions provider

    Announces partnership with home sharing service Silvernest
    Reverse mortgage lender Finance of America Reverse has announced it is rebranding as a provider of retirement solutions dedicated to helping people "get to work on retirement." FAR President Kristen Sieffert said the move is essential to change the conversation about reverse mortgages, stating that, "It's critical that we become more than a just a lender."
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  • FHA will not cut mortgage insurance premiums

    Actuarial report reveals insurance fund is in good health, but Montgomery says premiums will stand
    The Federal Housing Administration released details on the health of its flagship Mutual Mortgage Insurance Fund on Thursday, revealing a positive economic net worth of $34.86 billion and an acceptable ratio of capital reserves at 2.76%. The numbers are markedly better than last year, but FHA Commissioner Brian Montgomery said that doesn’t mean the agency will be reducing mortgage insurance premiums any time soon.
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  • Reverse mortgage lender American Advisors Group expands to VA loans

    Seeks to provide seniors with more home equity solutions
    Top reverse mortgage lender American Advisors Group has expanded its product offerings to include VA loans. The move is part of the company’s rebrand as it pivots away from its reverse-only focus, offering an expanded product suite with the goal of helping America’s seniors "retire better."
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  • Reverse mortgage securities continue decline

    Issuance totals highlight liquidity concerns
    The latest data on HECM-backed securities shows issuance continued its decline in October, and while HMBS float last month was up slightly to $55.5 billion, most of that can be attributed to highly seasoned collateral and not to new production. This means that it’s only a matter of time before HMBS float falls below the $55 billion mark – a vector that indicates less liquidity for investors.
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  • HECM margins stabilize at 2%

    Baseline Margin Report suggests lenders have adapted to new rules
    Margins on adjustable-rate reverse mortgage loans averaged 2% in September, according to HECM analytics provider Baseline. The average margin rate is up slightly from 1.99% in August, indicating that it is remaining relatively stable now that the industry has adapted to reverse mortgage program changes that went into effect in October 2017.
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  • Reverse Focus launches website development service for HECM LOs

    Offers customizable sites designed to enhance marketing and lead generation
    Mortgage solutions company Reverse Focus has announced the launch of its website service for reverse mortgage originators. Myloanofficer.us offers “turn-key, power-packed” websites designed for HECM LOs who are looking to market their services, elevate their online presence and expedite lead generation.
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  • Reverse Mortgage Funding: More financial advisors are recommending HECMs

    Lender ramps up education to help partners connect with advisors
    The reverse mortgage industry has been working for years to connect with financial advisors to teach them about the valuable role home equity can play in retirement income planning. Now, leading HECM lender Reverse Mortgage Funding says the effort is finally paying off. RMF says it has seen a significant uptick in interest from advisors and its investing sizable resources into helping its originators build this channel of business.
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  • Resolute Bank returns to grassroots to build HECM business

    Builds collaborative corporate culture to promote relationship marketing
    It’s been a hard year for the reverse mortgage industry, and like other lenders in the space, Resolute Bank has used the down market to rethink its business strategy. In the wake of program changes, the reverse team at Resolute took a good look at its business structure and decided it was time to return to grassroots.
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  • Committee tracks impact of FHA’s second appraisal rule

    Collects lender data looking for clues on FHA’s methods
    Members of the HUD Issues Committee within the National Reverse Mortgage Lenders Association are taking a deep dive into the Federal Housing Administration’s second appraisal rule for select HECM loans. “We are tracking what we think are key elements to see if we can’t figure out where some of the problems may lie,” said Committee Chair Elly Johnson. Here’s what they’ve uncovered so far.
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