Skip to main content

Lenders Rally Through March's Reverse Mortgage Decline

Navi Persaud
May 20, 2020
The word resiliency spelled in scrabble letters.

The latest Home Equity Conversion Mortgage report from Reverse Market Insight revealed that HECM endorsements fell by 14.1% in March 2020. However, some lenders remained resilient through the decline, according to Reverse Mortgage Daily.
According to RMD, lenders like HighTechLending and Fairway Independent Mortgage Corporation saw reverse endorsements increase 38.7% and 31.3% respectively. In addition, Finance of America Reverse reported its third 12-month high with an increase of 21.8% according to the RMI data. 
“Keeping it simple here, I’d say the two great stories here are Fairway and FAR both showing several consecutive months of growth in endorsements here,” said John Lunde, president of RMI, according to RMD.
He believes that positive growth for some of the top reverse lenders in the industry shows encouraging signs.
Click here to read the full report on RMI's March 2020 data.

May 20, 2020
More from
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

Jul 26, 2021
RMF Revamps Its Borrower Qualification Process To Increase Efficiency

Reverse Mortgage Funding, LLC (RMF) is taking a new approach to the borrower qualification process for those seeking a reverse mortgage. The process was created to drive efficiency during the approval process and increase reverse mortgage market growth.

Jul 20, 2021
Reverse Mortgage Endorsements Slide By More Than 4 Percent In June

Reverse mortgage endorsements decline by 4.4% to 4,160 loans, increasing the streak of more than 4,000 loans per month, according to Reverse Mortgage Daily.

Jul 06, 2021
Liberty Reverse Mortgage Becomes Full Service Reverse Lender Following RMS Acquisition

Last week Ocwen Financial Services announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent shared how the acquisition will affect the company.

Jun 22, 2021