"The decline in HECM volume reflects ongoing competitive pressure from proprietary reverse mortgage products, which industry observers say have captured much of the growth in recent years."
"Nine of the 10 regions analyzed by RMI posted monthly increases in March, with four outpacing the national growth rate. The Rocky Mountain region led these gains, rising 33.8% to 178 loans."
"Goodlife Home Loans/Traditional Mortgage Acceptance Corp. posted the largest jump, surging 55.1% to 107 loans. Finance of America increased its endorsements by 24.7% to 454 loans."
"HMBS issuance totaled $441 million in March, up $10 million from February's figure of $431 million but down $46 million from $487 million in the same month last year."
March experienced a 16.3% rise in loans, totaling 2,117, although this figure is still lower than any month since August. The decline in HECM endorsements is attributed to competitive pressure from proprietary reverse mortgage products, which have gained significant market share. Nine out of ten regions analyzed showed monthly increases, with the Rocky Mountain region leading at 33.8%. Among the top lenders, eight reported month-over-month growth. HECM Mortgage-Backed Securities issuance rose modestly to $441 million, despite being lower than the previous year.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]