Items Tagged with 'National Reverse Mortgage Lenders Association'


  • HECM professionals set to meet in San Diego

    Annual industry event will focus on forward-looking strategies for success
    The reverse mortgage industry’s biggest event is just one month away. More than 400 HECM professionals from 155 companies will meet at NRMLA’s annual conference next month to discuss issues affecting their work. “We won’t succeed if we keep doing things the way we always have,” said NRMLA Executive Vice President Steve Irwin. “Now is the time to identify new opportunities, new methodologies and new processes to leapfrog this industry forward.”
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  • Senior home equity continues to smash records

    Hits nearly $7 trillion
    Senior housing wealth just keeps climbing. According to the NRMLA/RiskSpan Reverse Mortgage Market Index, aggregate home equity levels for homeowners 62 hit $6.9 trillion in the second quarter of 2018. That’s a $130 billion jump from the previous quarter. But will they utilize these funds in retirement?
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  • HECM professionals to gather in Texas for Reverse Mortgage Day

    Annual conference will focus on origination strategies
    As the reverse mortgage industry navigates a market in distress, HECM professionals will gather at the 19th annual Reverse Mortgage Day. Set in Austin next month, this year’s event will address issues affecting the industry and explore ways originators can succeed in this challenging climate.
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  • Most seniors want to age in place

    And reverse mortgages are uniquely positioned to help make it happen
    Nearly 90% of homeowners approaching retirement want to stay in their homes as they age, according to AARP. And that massive statistic is the single best marketing tool a reverse mortgage professional can use. The aging-in-place movement is upon us, and it is huge.
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  • Who’s the average reverse mortgage borrower?

    Data sheds light on who takes a HECM
    No longer a loan of last resort, reverse mortgages are increasingly considered a useful tool for retirement income planning. Recent data from the National Reverse Mortgage Lenders Association paints a picture of who takes a HECM.
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  • Reverse mortgage volume falls to 13-year low

    Despite record levels of tappable home equity, program changes have squashed volume
    Reverse mortgage endorsements have dropped 15.5% in June from the previous month, hitting a low the industry hasn’t seen since 2005. To help turn things around, lenders in the space are working to innovate, creating private equity release products that might provide an answer to the industry’s problems.
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  • Senior home equity hits all-time high in Q1

    Equity jumps $6.3 trillion
    Senior home equity increased in the first quarter of 2017 to $6.3 trillion, an all new high since the National Reverse Mortgage Lenders Association began tracking the figure in 2000. Experts pointed out this will benefit seniors who want to modify their homes after becoming empty nesters.
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  • Study: Recent changes to reverse mortgage rules cut default risk in half

    New report from Center for Retirement Research at Boston College lauds HECM program
    A new study from the Center for Retirement Research at Boston College states that recent changes made to the rules governing reverse mortgages, specifically those that are part of the government's Home Equity Conversion Mortgages program, will dramatically cut the risk of default for borrowers.
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  • MetLife to Acquire Everbank Reverse Mortgage

    MetLife, Inc. said Thursday morning that it will acquire EverBank Reverse Mortgage LLC of Bloomfield, NJ, from its parent, EverBank. The acquisition is expected to close July 31; terms of the deal were not disclosed. MetLife said in a press statement that it intends to operate EverBank Reverse as a division of MetLife Bank, an operating subsidiary of the insurance and financial services giant.
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  • OmniHome Gets New CEO

    OmniHome Financing, Inc., said Friday that it had tapped Sean Browning as CEO. Browning joins OmniHome from SCME Mortgage Bankers, where he was senior vice president; previously, he worked with GMAC Mortgage as a regional vice president. OmniHome is the nation's fifth largest reverse mortgage originator, according to stats provided by the U.S. Department of Housing and Urban Development. Sean is a graduate of the University of Southern California, and was a member of the USC water polo Team. (I mention this because I'm an alum, and I also was on the water polo team).
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