Including government-insured and proprietary loans, reverse mortgage production grew during the latest month. The improvement hit both the retail and wholesale channels. With a new world order just around the corner for the sector, one company is poised to be the new leading originator. Retail originators were responsible for 54 percent of previously reported home-equity [...]
Posts Tagged ‘conversion’
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New Reverse Mortgage Leader Emerging
August 14th, 2012 
davidguide 
Posted in Business Loans 
Tags: conversion, Corner, equity conversion mortgage, federal housing administration, home equity conversion, home equity conversion mortgage, Housing, June, percent, Sector, wholesale channels 
Comments OffMetLife Emerges as Dominant Reverse Lender
December 2nd, 2011 davidguide MetLife Bank closed more than 1,200 retail-originated home-equity conversion mortgages in November. That was the most HECMs closed of any reverse lender. In fact, MetLife closed more than three times as many retail loans than the next-biggest originator. View full post on Mortgage Stories
Posted in Business Loans Tags: bank, conversion, Emerges, home equity conversion, MetLife, Mortgage, mortgages, post, retail loans, three times, View Comments OffWells HECM Originations Up Again
September 13th, 2011 davidguide Wells Fargo Bank, N.A., once again was the biggest originator of home-equity conversion mortgages for the month. It was the second month in a row that the reverse unit originated more HECMs than the previous month. The positive results came despite its disclosure in June that it would exit the reverse mortgage sector. View full [...]
Posted in Business Loans Tags: bank, conversion, HECM, home equity conversion, June, Originations, post, reverse mortgage, Sector, wells fargo bank Comments OffIssuance Softens at Ginnie
June 29th, 2011 davidguide The issuance of mortgage-backed secuties at Ginnie Mae was down around a billion dollars in May. Compared to year earlier issuance was off approximately $8 billion. The month-over-month decline applied to single-family, home-equity conversion mortgage and multifamily securitizations. View full post on Mortgage Stories
Posted in Business Loans Tags: conversion, Decline, equity conversion mortgage, ginnie mae, home equity conversion, home equity conversion mortgage, Issuance, post, Softens, View Comments OffJumbo Dilemma Looms
June 9th, 2011 davidguide Unless Congress takes action, loan limits in high-cost areas will revert back to $417,000 in October. But the loan limit on home-equity conversion mortgages was permanently raised to $625,500. Given HECMs can be used on purchase transactions, the use of HECM’s on transactions in excess of $417,000 could rise. View full post on Mortgage Stories
Posted in Business Loans Tags: Congress, conversion, HECM, home equity conversion, limit, loan limit, loan limits, Looms, October, post, purchase transactions Comments OffRetail Reverse Originations Outrun Wholesale
October 12th, 2010 davidguide The volume of home-equity conversion mortgages originated through retail lenders was up 18 percent between July and August, according to Reverse Market Insight . But business generated through the wholesale channel was up just 6 percent. Compared to August 2009, retail HECM production was up 37 percent, while wholesale HECM volume sank 49 percent. View [...]
Posted in Business Loans Tags: August, conversion, HECM, home equity conversion, July, market insight, mortgages, Originations, Outrun, percent, Retail, retail lenders, Reverse, volume, Wholesale Comments Off
