Items Tagged with 'Reverse mortgage'

ARTICLES

  • Synergy One announces first big move under new management

    Company set to acquire BBMC Mortgage
    Synergy One Lending is set to acquire certain assets of BBMC Mortgage, significantly expanding its footprint in the Midwest. Synergy One CEO Terry Connealy said the company is excited to expand and serve more customers in the traditional and reverse mortgage markets.
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  • TowneBank's reverse team focuses on HECM for Purchase business

    Leverages bank’s partnerships with real estate agencies
    Sitting comfortably in the top third of the Top 100 HECM Lenders list, Virginia-based TowneBank has been operating a reverse channel for more than a decade. Chip Glover, EVP and director of capital markets who heads the reverse channel, tell us part of its strategy to capture volume in the current climate is to focus on the HECM for Purchase product. “We think it affords us the best chance to be profitable in the HECM space,” he said.
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  • Here are the top 10 reverse mortgage lenders

    And these are the different approaches they’re taking to survive the down market
    The reverse mortgage industry has taken a bit of a beating in the past year following significant program changes from HUD, but HECM lenders are nothing if not resilient. We’ve compiled a list of the top 10 players in the space and a summary of the approach each has taken to stay afloat in the current climate.
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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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  • HECM volume inches upward

    Latest data shows signs of slow recovery
    It’s been a tough year for the reverse mortgage space. Next week marks the one-year anniversary of the implementation of changes to the HECM program that shook the industry to its core, significantly slashing loan volume. But the latest report from analytics provider Reverse Market Insight shows that recovery is in the works, even if the pace is slow.
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  • Cherry Creek Mortgage LOs learn HECMs to grow business

    1st Reverse Mortgage USA teaches parent company originators about reverse
    Interest rates are up, refi volume is down, and some mortgage originators are feeling the pinch. Cherry Creek Mortgage is helping its LOs bolster their game by teaching them how to add reverse mortgages into their product mix.
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  • Lack of retirement savings haunts Baby Boomers

    Will home equity access be the solution?
    An estimated 10,000 Baby Boomers are expected to enter retirement every day by 2030, but data reveals that an alarming number are financially unprepared for retirement. As older adults search for ways to bolster their retirement savings, will accessing their home equity be the answer?
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  • More Boomers are mortgage shopping online

    Reverse mortgage lenders see opportunity to invest in digital resources
    Like most consumers, Baby Boomers are increasingly turning to the web to do their shopping, and apparently, shopping for a mortgage – or reverse mortgage – is no different. A recent survey by Ellie Mae revealed that nearly a quarter of Boomers reached out to a lender online, signaling to lenders like Finance of America Reverse that online resources are a smart investment.
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  • Fairway Independent Mortgage throws weight behind top HECM producers

    Aims to create origination tipping point
    In today’s climate, closing a reverse mortgage every now and then – or even hitting the industry average of one every other month – isn’t going to cut it. To tackle the problem, Fairway Independent Mortgage plans to focus its efforts on a handful of top HECM producers, working closely with each of them in a push to elevate the industry’s volume standard.
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