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Will demographics be the saving grace for HECM lending?
For decades many reverse mortgage professionals have touted the demographic advantages that should boost the reverse mortgage’s acceptance and overall loan volume. So far that has not come to pass. Demographics are not destiny but they do hold valuable insights.
[Reverse Mortgage Daily] Reverse Mortgage Daily reports that according to the U.S. Census Bureau’s population projections, 4.4 million Americans will reach the age of 65 in 2024— a figure that comes out to roughly 12,000 people per day.
- [Reverse Mortgage Daily] The State of Hawaii says now-bankrupt RMF owes unpaid taxes
- [Housing Wire] The CFPB issues a nearly $2M fine to one mortgage lender and realtors