Items Tagged with 'Reverse Market Insight'

ARTICLES

  • Reverse mortgage data reveals solid spring comeback

    Endorsements grew 12.7% in April
    Last month, the reverse mortgage industry closed just over 2,500 loans, a mark it was consistently hitting when noise from the government shutdown was factored out of the equation. Many agreed this 36% low was likely the industry's new normal, but perhaps they spoke too soon.
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  • How many borrowers are taking out jumbo reverse mortgages? No one really knows

    The industry avidly tracks HUD-endorsed HECMs, but it's sorely lacking cross-lender data on non-agency reverses
    For the last several months, data on reverse mortgage volume has illustrated a steady descent as the industry has struggled to regain its footing in the wake of program changes. But does this tell the whole story? Five lenders now originate proprietary reverse mortgage products. But the problem is they all decline to offer specifics on volume, so there’s no way to tell just how many of these non-agency loans the industry is collectively closing.
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  • 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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  • Reverse mortgages see near-even decline in wholesale, retail

    January data details volume dip
    Reverse mortgage volume dropped 5.7% industry-wide in January, with wholesale and retail experiencing similar declines. According to the latest data from Reverse Market Insight, the wholesale channel fared best with a 5.3% dip, while retail declined 6%. In all, the industry closed 1,649 loans that month.
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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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  • Reverse mortgage data details industry-wide volume plunge

    Wholesale endorsements suffer greatest decline at 34%
    Reverse mortgage volume plummeted a staggering 31.4% in December, closing out the month with just 1,749 loans and ending the year on a rather sour note. A new report from Reverse Market Insight breaks down the numbers, revealing that wholesale endorsements suffered the greatest loss at 34.4%, as many of the top lenders saw volume dip by as much as 46%.
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  • Reverse mortgage data spotty for January

    Government shutdown clouds endorsement results
    Reverse mortgage endorsements dropped 5.8% to 1,649 loans in January, according to the latest report from Reverse Market Insight. But HECM loans were not endorsed during the recent government shutdown, so the data reflects a huge gap in activity from Dec. 22 to Jan. 27. "It's hard to honestly know what to make of that given the noise introduced by the government shutdown," RMI wrote.
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  • Reverse mortgages close out 2018 on a tough note

    Is this the new normal?
    It’s been a brutal year for the reverse mortgage industry – and that’s saying something considering everything the industry has been through. Now, constrained by new guidelines that make a reverse mortgage less beneficial, is the industry destined to embrace a business that operates with less volume? Is this the new reality? Experts weigh in.
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  • Quontic Bank: Proprietary products are key to reverse mortgage success

    Says this is where the opportunity lies in 2019
    As the FHA's reverse mortgage product continues to see its volume decline, some lenders – like New York-based Quontic Bank – are setting their sights on non-agency proprietary reverse mortgages to recapture market share. "I really think that’s where the future of this product is," said Quontic CEO and Chairman Steven Schnall. "Keep the federal government out of it and let the free market do its thing."
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