Items Tagged with 'REVERSE MORTGAGE'

ARTICLES

  • The problem with getting a reverse mortgage on a condo

    With FHA spot approval a distant memory, originators struggle to help condo owners secure a HECM
    Ever since the FHA eliminated spot approvals for condominiums, reverse mortgage originators have logged countless hours helping prospective borrowers secure a HECM on their condo – sometimes to no avail. And, with HUD dragging its feet on finalizing rules that would bring back spot approval for FHA loans, it doesn't seem like things will change any time soon. Will non-agency reverses provide the answer?
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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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  • More borrowers turn to proprietary reverse mortgages

    Lenders report growing interest in non-agency reverses
    For years, 95% of the reverse mortgage market has been dominated by the FHA's HECM offering. But it looks like that's about to change. Now, borrowers can take a reverse mortgage on a higher priced home and choose from a selection of products with a number of interesting features offered by five different lenders, and lenders say consumer interest is strong.
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