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After a 10-year high in March, the reverse mortgage industry experienced April showers with a decrease of 3.8% in loan volume, according to the April Home Equity Conversion Mortgage (HECM) industry report from Reverse Market Insight.
Jonathan Scarpati, SVP of Wholesale Lending at Finance of America Reverse, talks about tapping into the reverse mortgage market.
Mortgage Coach and ReverseVision introduced an online program that allows loan originators to give consumers a comparison of how reverse mortgages perform against traditional mortgages over the lifetime of the loan.
Monthly growth for home equity conversion mortgages was observed across the country, with the Eastern U.S. seeing a significant uptick.
An increase in loan-limit size and the rapid growth of home equity fueled interest in reverse mortgages in January.