We interviewed our industry’s top analyst John Lunde who is founder and President of Reverse Market Insight. RMI gathers and makes sense of industry data, market trends and much more. List as we discuss overall loan volumes, pull-through rates and our future.
Continue readingTitle tools, technology & current trends
We spoke with Allisa Scott Prieto of Premier Reverse Closings. Watch as we discuss new technologies, online title tools, off-site signings and closing ratios. Title companies like PRC do more than issue policies but also provide a wealth of research tools for the reverse mortgage professional.
Continue readingPart Two: The HECM Saver as a Tool: Interview with Dr. John Salter
It’s more just than a retiree ‘getting’ a reverse mortgage, it’s about using it strategically. In part two Dr. John Salter of Texas Tech discusses what a Monte Carlo simulation is, capital needs and retirement horizons. A great insight into the world of comprehensive financial planning.
Continue readingOctober 2012 Top 100 HECM Retail Lenders
Security One Lending shot from #5 last month to the top spot in October; a sure sign of their rapid expansion. AAG holds the #2 spot again yet showing …
Continue readingInterview with Dr. John Salter: HECM as a tool (Part 1)
Exclusive Interview: When it comes to the financial planning community, Dr John Salter of Texas Tech University has opened the door to using the HECM Saver as a legitimate financial planning tool. Part 1 of 2 of our exclusive interview.
Continue readingThe life of a reverse after closing
Often out of sight and mind after a reverse mortgage closes, servicing is the backbone of the ongoing relationship with the borrower. From monthly draws, tenure payments and loan questions reverse mortgage servicers are on the front lines of long-term customer support and care. The average loan officer is with the borrower for 3-9 months while the servicer….
Continue readingAre we already ‘assessing’ borrowers?
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Are we already assessing borrowers? Many have mixed emotions about the soon to be released financial assessment from HUD even though we know it is necessary to help reduce defaults due to taxes and insurance. The question is have lenders quietly begun their own financial assessment, albeit informal with tightening underwriting standards?
The “Exit Effect”
The exits of large banks and lenders such as MetLife, Bank of America and Wells Fargo have done more than consolidate the market or create opportunities for remaining mid-size lenders. These ripples in our industry have gone largely unnoticed. It boils down to liquidity. That is the supply of approved Ginnie Mae issuers of HECM Mortgage Backed Securities or HMBSs. Today we are only supported by …
Continue readingSeptember 2012 Top 100 HECM Retail Lenders
Download your September Top 100 Retail HECM Lenders Report Here.
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Genworth made the jump from third to first while AAG & Security One Lending remain strong in the top 10 moving one notch. RMS made a huge jump from 40 in August to break the top 25 at 23rd position. Overall endorsement volume remains down year over year but lenders are growing rapidly due to consolidation and we should see further increased endorsements as former MetLife loan officers pipelines move through to endorsements in the coming months.
Walking away? Loan Fall Out
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Are potential reverse mortgage borrowers and applicants walking away from the loan or is it that they just don’t qualify? The question stems from a recent report from IBIS software which is tracking the number of HECM borrowers who receive counseling that actually end up with a closed loan. A first HECM counseling protocols were suspected by some as to why so many never closed a loan. But is that really what is happening? Other factors must be examined such as appraisal values, property conditions or just cold feet. Our video segment examines the numbers and possible causes and also reason to be optimistic in the future.
