The leading indicator of HECM loan volume Which came first the chicken or the egg? There’s no number that reverse mortgage lenders and originators track more closely than our monthly endorsement totals. That is, the number of federally-insured reverse mortgages that are formally ‘insured’. In fact, our monthly Top
As we closed out a tumultuous 2018 reverse mortgage professionals were not anticipating a blockbuster month for HECM endorsements. However, many were taken aback when December endorsements came in at a meager 1,751 units. Even factoring in the government shutdown which halted endorsements on December 21st, estimates would have only
Thinking Big in a Smaller Market The bickering continues in Washington DC resulting from the budget stalemate and subsequent limited government shutdown. Veteran originators will recall a 16-day shutdown in October 2013. During this time endorsements of all Home Equity Conversion Mortgages cease. All FHA mortgages stand to be impacted
If there’s one number American consumer’s doggedly pursue it is their credit score- the magic number that determines one’s ability to incur debt and at what cost. Traditional mortgage borrowers know that their credit score is pivotal in determining what interest rate they will pay on their home mortgage. Recently,
The HECM’s philosophy shapes risk management measures & future reforms Few are asking an underlying question that will shape every effort to curb future losses or HECM claims against the Federal Housing Administration’s Mutual Mortgage Insurance Fund. That question is if the Home Equity Conversion Mortgage is a true
2019 may provide lenders time to adjust & rebuild You can breathe a sigh of relief. While no official statement has been made it appears that the reverse mortgage industry will not see additional changes to the HECM program this fall. Good news, since these changes typically entailed significant
Indicators show we’ve reached the bottom but a more significant question has been largely ignored. Is the key to reverse mortgage industry’s long-term growth and recovery lie with traditional mortgage lenders? It’s a sincere question that begs examination considering there are tens of thousands of FHA-approved originators...