Archive for November, 2007
HECM Market Comparison 10/31/2007 vs 10/31/2006
HECM Market Comparison 10/31/2007 vs 10/31/2006,
Much has changed over the past year in the HECM loan market: Florida has taken over from California as the reverse mortgage activity “hot spot” in the U.S.; new products like the HECM 100 and HECM 125 have emerged, and the overall volume of HECM loans has increased substantially. We [...]
HECM Growth By State
HECM Growth By State,
Our prior use of a “heat map” showing Home Equity Conversion Mortgage Growth in U.S. States was well received by visitors so we thought we’d make it a monthly feature using data from HUD’s monthly HECM activity reports.
The map below is based on percentage changes HECM growth rates for the 12-month period [...]
HECM Activity Shows Moderate Rebound But Still Disappoints
HECM Activity Shows Moderate Rebound But Still Disappoints,
October HECM activity rebounded somewhat from the sharp falloff seen in September, but remained well below the 12-month average. According to HECM MIC reports recently issued by HUD, 8,417 HECMs were endorsed in October, a 9% increase from September’s total of 7,695. But the October total [...]
Tips For Avoiding Reverse Mortgage Scams
Tips For Avoiding Reverse Mortgage Scams,
We came across a truly useful book the other day: Scam Proof Your Life (377 Smart Ways to Protect You & your Family From Ripoffs, Bogus Deals & Other Consumer Headaches). The book is written by Sid Kirchheimer, “AARP’S Scam Alert Expert” and contains a wealth of practical [...]
Interesting Info About Financial Freedom Reverse Mortgage Operations
Interesting Info About Financial Freedom Reverse Mortgage Operations,
We came across a recent press release that included a few interesting tidbits about the Financial Freedom reverse mortgage operations, the recognized industry leader (at least in terms of loan volume):
As of June 30, 2007, Financial Freedom serviced a portfolio of 131,315 loans with an outstanding principal balance [...]
HECM Market Comparison 10/31/2007 vs 10/31/2006
HECM Market Comparison 10/31/2007 vs 10/31/2006,
Much has changed over the past year in the HECM loan market: Florida has taken over from California as the reverse mortgage activity “hot spot” in the U.S.; new products like the HECM 100 and HECM 125 have emerged, and the overall volume of HECM loans has increased substantially. We [...]