Items Tagged with 'HECM ENDORSEMENTS'

ARTICLES

  • Reverse mortgage volume settles at 36% low

    Is this the new normal?
    Now that the noise from the government's shutdown has quieted, it seems reverse mortgage endorsement volume has officially settled at -35.7%. According to the latest report from Reverse Market Insight, endorsements in March totaled just 2,573 loans, and its analysis suggests this is in line with industry totals over the last five months.
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  • HUD: Reverse mortgage volume tanked in Q1

    Latest report paints troubling picture for HECMs
    Reverse mortgage volume has been on a rapid descent since program changes took hold in early 2018, and the trend doesn't appear to be slowing. The Department of Housing and Urban Development released its quarterly report to Congress on Monday on the state of the Federal Housing Administration's flagship Mutual Mortgage Insurance Fund, and its details on the flailing state of the reverse mortgage program are eye catching.
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  • Reverse mortgage volume soars, but don't be fooled

    143% uptick most likely post-shutdown catchup
    Reverse mortgage endorsements soared 142.7% in February, closing out the month with 4,002 loans, according to the latest data from Reverse Market Insight. But don’t be fooled – it's not the recovery of the industry's dreams, rather a likely result of catch-up after the 35-day government shutdown ground HECM endorsements to a halt.
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  • Here are the most popular cities for reverse mortgages

    California markets continue to reign supreme
    Reverse mortgage volume plummeted in the last year, but there are still a number of homeowners across the country who are selecting the loan to access their home equity. In parts of the country where home values are appreciating significantly, reverse lenders are finding success with homeowners looking to tap into the wealth in their homes. Here are the markets that recently closed the most reverse mortgages.
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  • Government shutdown halts reverse mortgage endorsements

    FHA's limited operations to impact HECM lending
    With the government shutdown approaching the two-week mark, reverse mortgage endorsements have ground to a halt. The FHA released a notice stating it will not be making insurance endorsements for HECM loans during the shutdown, and lenders with issues regarding the second-appraisal protocol will be out of luck.
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  • Reverse mortgage volume recovers slightly

    October sees endorsements climb 7.4%
    The reverse mortgage market continues its uneven recovery after taking a sizable hit from program changes issued last year. The latest report from analytics provider Reverse Market Insight shows that endorsements were up 7.4% to 3,087 loans in October, following a bumpy trajectory that has been the pattern as of late.
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  • Reverse mortgages plummet to 14-year low

    Volume falls 17%
    After months of uneven recovery following last October's program changes, reverse mortgage volume has fallen to a low it hasn't seen since 2004. The latest data from analytics firm Reverse Market Insight reveals that HECM endorsements fell 17.4% in November – reaching its lowest point since new policy guidelines were implemented last fall.
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  • New HECM data shows bumpy road to recovery

    In September, volume dropped while competition grew
    In August, reverse mortgage endorsement volume grew 9.9%. Some HECM professionals looked at this data and said, “Finally! The market is showing signs of recovery!” Not so fast. In September, endorsement volume fell – by exactly 9.9%. “We should always expect bumpiness in recoveries,” said Reverse Market Insight’s John Lunde, “particularly when we're looking at endorsements.”
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