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We’re a few days behind our usual schedule as we enjoyed a quick trip out to Dallas for Reverse Mortgage Day in Texas. As always, it was very well organized and if you were busy networking in the halls or didn’t attend, you can find our presentation on current trends in the reverse […]
In last week’s report, we talked about how younger borrowers (read: Baby Boomers) are changing the face of the reverse mortgage industry by selecting reverse mortgages in greater numbers than their elders. Today, let’s dive a little deeper into reverse mortgage borrower dynamics.
One of the first questions that arises when looking at the age […]
We just got back from the NRMLA Irvine Roadshow and as always, heard some very interesting ideas and discussions about the industry’s current opportunities and challenges. One of the most interesting points we heard came from John Nixon at Bank of America, discussing an analysis he had done of borrower age.
Many of us […]
Since we already know that May’s volume levels rebounded a bit in June, it doesn’t feel quite so disheartening to show the headline graph from this month’s Reverse Mortgage Industry Trends report.
HECM Endorsement Trends by Year
Volumes for each month this year have been below 2009 thanks to startlingly […]
May’s volume was notable for being the lowest on record for 5 years, but the difference between broker/wholesale volume and retail/direct was just as stark. For the fourth consecutive month now, brokers bore the brunt of declining volumes, down -25.8% vs. an -8.4% decline for retail. If nothing else it shows the continuing impact of […]
Most years you want to see some good news before you’re six months in, but given all the headwinds for the industry we’ll take our wins where we can get them. June marked the first growth in HECM endorsement volumes in 2010, finishing with 5,304 and up 16.5% from May’s dreadful levels. Sure, the […]
May’s application numbers have good news and bad news for the reverse mortgage industry.
The good news: apps grew for the fourth straight month since reaching a low of 5,805 in January, now up 37% since then to 8,363 in May.
The bad news: lower upfront costs are likely fully baked in to these numbers by now, […]
We’ve been talking the past few months about a few specific markets around the country that have weathered the storm of decreased volume, most notably Baltimore. Rather than beat the Baltimore drum another month, let’s talk about a slightly different topic that caught our interest this past month.
We’ve been underwhelmed by the volume (or lack […]
For the third straight month now, wholesale/broker endorsements shrank more than retail/direct endorsement volumes. In April, brokers saw 7.4% less volume while retail lenders shrank by 3.3%. Given what we already know about May’s low volume levels, we expect we’ll still be talking about declines in both business channels next month as well.
Brokers still […]
We suggested in last month’s report that we expect endorsement volumes to get worse before they get better, and May certainly proved that point. It would have been more fun to be wrong in this case: May volume came in at just 4,554 loans, down 17% from April and the lowest monthly volume since […]
