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Housing Wire
JANUARY 17, 2024
This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).
Housing Wire
MAY 25, 2023
Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.
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Housing Wire
AUGUST 25, 2022
Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. In the last five years alone, homeowners have gained, on average, $125,000 in equity on their properties.
Housing Wire
MAY 17, 2022
Orchard , which operates a home-buying and selling platform, wants to expand its customer base of first-time homebuyers by helping them to make a cash-backed offer. Cash buyers made up 28% of all home purchases in March, a rise of five percentage points from the same month in 2021, according to the National Association of Realtors.
Housing Wire
JANUARY 12, 2023
The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner?
Housing Wire
FEBRUARY 16, 2024
A bill introduced in the New Jersey Senate would require face-to-face counseling for the state’s reverse mortgage transactions and would nullify any loans originated without proof of such counseling having taken place. The home, Turner added, had been built by the woman’s late husband in the mid-1950s. New Jersey State Sen.
Housing Wire
NOVEMBER 15, 2022
HousingWire: As mortgage lenders continue to look for ways to cut costs amid a high-rate environment, where are some key areas that they should still look to innovate? Dan Catinella : Lenders should lean into the power of their tech stack as they try to cut costs in the current market situation.
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