General World News

Strong refi business, low rates aren’t growing reverse mortgage audience

While the reverse mortgage industry has seen strong business numbers for most of the past year with endorsements largely staying above 4,000 loans a month, the amount of Home Equity Conversion Mortgage (HECM)-to-HECM refinance transactions being done alongside other market factors frankly outside of the reverse mortgage industry’s control are doing very little to commensurately expand the penetration rate of the HECM category into the broader mortgage business.

This is according to John Lunde, president of Reverse Market Insight (RMI) during a presentation at the National Reverse Mortgage Lenders Association (NRMLA) Virtual Summer details ⇒

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