Reverse

Reverse

ReverseReview is a beat dedicated to reverse mortgages and home equity use.

Jessica Guerin is an editor at HousingWire covering reverse mortgages and the housing wealth space. She worked previously as the editor-in-chief of The Reverse Review Magazine, and leads HW's charge into covering the housing wealth and HECM market.

ARTICLES

  • HUD Inspector General: Department has serious management challenges

    Report says problems plaguing the agency are costing taxpayers millions
    The Department of Housing and Urban Development is facing serious management challenges that are causing longstanding performance and accountability issues. An annual report released by HUD's Office of Inspector General outlines the top six management challenges facing the agency in 2019, and the details aren’t pretty.
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  • The Federal Savings Bank: "HECM origination is an outdoor sport"

    Bank coaches LOs on how to build referral networks
    In the wake of major HECM program changes, The Federal Savings Bank has decided to double down on its commitment to growing referral networks. The bank provides its LOs with the technology and coaching they need to connect with other professionals about the product, encouraging them to hit the pavement to build their business.
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  • Americans now have less equity to tap

    Tappable equity falls for the first time since the market's recovery
    According to the latest report from Black Knight, tappable equity on mortgaged properties is now $5.9 trillion – down from last quarter’s record-breaking $6 trillion. American homeowners with a mortgage lost about $2,300 in equity this quarter and now have $136,000 available to tap as a slowdown in home price appreciation dampens growth.
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  • Here's where HECM originators see opportunity in 2019

    Reverse professionals share their focus in the year ahead
    There’s no disputing that it’s been a rough year for the reverse mortgage industry, with volume recently falling to a low the industry hasn’t seen in 14 years. But now that program changes issued in October 2017 are firmly in the rearview, some HECM originators are ready to charge ahead, optimistic about the promise for better business in the year ahead.
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  • Home price appreciation is slowing down

    Equity is still climbing, just not as fast as before
    The average homeowner gained $12,400 in equity in one year's time, according to CoreLogic's Home Equity Report for the third quarter of 2018. And while that's not exactly nothing, it's the smallest annual increase in two years, reflecting a slowdown in home price growth.
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  • Reverse mortgage securities fall to 4-year low

    "The market has yet to find its new normal"
    The latest data on HECM-backed securities reveals that issuance fell in November to $521 million, hitting the lowest level in four years thanks to low origination volume. According to a report from New View Advisors, only 84 pools were issued in November, the lowest number since February 2015.
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  • AAG hires new senior VP of operations

    Joe Stephenson will oversee all sales channels
    American Advisors Group has named Joe Stephenson senior vice president of operations. As such, he will oversee operations for all of AAG's sales channels, including its call center, national field sales division and wholesale division. The hire comes not long after the leading reverse mortgage lender launched a massive rebrand that involved an expansion of the company's offerings in an effort to help seniors "retire better."
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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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  • Reverse mortgage industry reacts to David Stevens' criticism

    "The observations and approach are out of date"
    David Stevens – the former head of the FHA and the MBA – made some scathing remarks about reverse mortgages last week that sparked heated criticism from members of the industry. HECM professionals say Stevens' remarks fail to acknowledge program changes that have already taken place, calling his comments disappointing and dated.
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  • Hometap finds traction with the house-rich, cash-poor

    Homeowership investment startup realizes opportunity in current climate
    As home prices rise and wages remain stagnant, a growing number of Americans are finding themselves house-rich but cash-poor. And, with interest rates trending upward, American homeowners are increasingly likely to stay put. This all spells opportunity for Hometap, a homeownership investment company that’s summer launch was met with unexpected demand.
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