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

  • [Pulse] What I learned interviewing over 100 of America's top loan originators

    The habits, attitudes and daily rituals that drive the country's top-performing LOs toward success
    It's been said, "success leaves clues." If we want to achieve a goal, there are others who've likely already achieved what we want and we can learn from them. In 2016, I began a journey to deconstruct the habits, routines and daily rituals of the country’s top performing mortgage loan originators. I discovered consistent attributes common among many of them, leading me to create this roadmap for success as a mortgage originator.
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  • How to manage appraisal expectations on reverse mortgages

    As gap between values and expectations widens, HECM experts share tips on navigating this tricky process
    Any time a homebuyer seeks an appraisal as part of obtaining a mortgage, there's a good chance expectations won't align with the appraiser's verdict on value. For older homeowners seeking a reverse mortgage, this can be especially challenging, as a lower-than-expected value could preclude the borrower from securing the loan. How can HECM LOs best prepare borrowers ahead of an appraisal to avoid disappointment? Experts weigh in.
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  • Here’s why the housing market should expect a cash-out refi boom

    High levels of equity and falling rates have experts predicting a surge in cash-outs
    Equity levels are climbing while mortgage rates are falling, and this has some predicting an inevitable boom in cash-out refinances. Capital Economics says the number of cash-outs will reach a 10-year high in the next couple of years. But before warning bells sound for those who remember the role cash-outs played in the collapse of the housing market, keep in mind that mortgage lending and consumer attitudes have changed since the mid-2000s.
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  • HECM margins increase for the first time in a year

    December sees margins inch upward
    Margins on adjustable-rate reverse mortgages increased in December for the first time in 12 months, according to Baseline Reverse’s latest Margin Report. Lender margins for the month averaged 1.98% in December, up from November's adjusted average of 1.95% and marking the first time margins have reversed the downward trajectory they've experienced throughout 2018.
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  • Experts: Home equity is key to solving the country's looming retirement crisis

    But many older homeowners are still reluctant to touch it
    As Baby Boomers continue to retire en masse without sufficient savings to support their later years, it's become glaringly apparent that the country is on the brink of a retirement crisis. But many older Americans do have one major source of wealth at their disposal: their house. And for some, utilizing their home equity through a reverse mortgage could be the answer to their late-in-life money problems, leading some experts to call the HECM program important public policy.
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  • FHA takes steps to streamline reverse mortgage underwriting

    Releases specific guidance on the contracting of third parties to verify financial info
    The Federal Housing Administration has taken steps to streamline the cumbersome financial assessment process for lenders, recently releasing updated guidance that specifically approves the use of third-party verification – or TPV – to collect a borrower's financial information.
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  • Here's a compelling reason to take a reverse mortgage ahead of retirement

    The loan can help eliminate a massive burden for senior homeowners
    A reverse mortgage isn't a good fit for everyone, but for older homeowners with sizable equity and no intention of moving, the loan can make sense. And here's one compelling reason why: When a homeowner over the age of 62 refinances their traditional mortgage into a reverse mortgage, they can make their mortgage payments optional. For those who are on the brink of retirement and staring down the barrel of a limited, fixed income, this could make all the difference.
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  • Blend looks to disrupt home equity lending

    Tech company launches software to shave weeks off home equity loan application process
    Digital lending company Blend has set its sights on the home equity market, announcing Tuesday plans to apply its tech expertise to home equity loans and lines of credit with a new app that promises to drastically reduce turn times. The move is a bet on rapid growth for the home equity market as home prices continue to rise. Blend said that as the purchase market weakens, home equity lending will be the next big opportunity.
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  • Homeownership investment company Unison sees explosive 370% YOY growth

    Is its debt-free, shared-investment model going to become the new way to access equity?
    Homeownership investment pioneer Unison closed out 2018 with an impressive 370% growth in revenue and $2.42 billion in co-invested real estate, the company reported. Could the company's stellar year be a sign that shared homeownership investment will be the new "it" way to access your equity?
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