The Brookings Institution: Reasons for low HECM uptake and how to expand market growth Despite the more Americans retiring without sufficient savings to fund their non-working years, reverse mortgages remain a niche product- one whose acceptance has shrunk considerably in recent years. This conundrum is addressed in a recent
Jumbo RMs and those caught in the middle Two months ago we asked if private reverse mortgages would stop the slide in our industry’s overall loan production with the increasing popularity of the jumbo or proprietary- this as the HECM’s volume has dropped considerably. That question was raised again
With the HECM becoming increasingly unpredictable, many reverse-only lenders are expanding to offer traditional mortgages...
Perspective Check Good times & bad times Fear and growth Attitude Improvise, adapt, and overcome How clean is your windshield? Raising your sails The only constant Leadership in adversity Moving foward Impossible? Making your way Buoyancy Disruption opportunity
MIT study reveals more detail about potential HECM market We’ve heard for years that the Home Equity Conversion Mortgage has only been utilized by 2% of retired homeowners. We also know that reverse mortgage volume has fallen dramatically from its historic high endorsement volume of 114,000 units in 2009 to
The new HECM program may be more attractive to affluent senior home owners working with a financial advisor.
If you ever wonder why FHA made changes to the HECM program here's something to consider...