New HECM Lending Limit and Index for 2021

New HECM Reverse Mortgage Lending Limit and Index for 2021

Happy New Year! The year 2020 was one of the more tumultuous years in recent memory, was it not? We sincerely hope that the new year finds you well! In life, things are always changing – and it’s no different in the reverse mortgage world. The new year brings some significant changes to the HECM … Read More >>

EIR and PLF Changes Since January

The Two Benefits of Falling Interest Rates That May Surprise Reverse Mortgage Borrowers

It’s a crazy world out there right now. Entire nations locked down, people confined to their homes, the stock market crashing (then rebounding), businesses shut down, and unemployment rising. If there’s one silver lining in all of the craziness, it’s falling mortgage rates. According to the Freddie Mac Primary Mortgage Market Survey, average 30-year fixed … Read More >>

Consider a Reverse Mortgage to Cut Taxes in Retirement

Newly Increased HECM Lending Limit to Take Effect in January

Many seniors will soon have significantly more cash available through a HECM reverse mortgage. As of January 1, 2019, the HECM lending limit will be increased by FHA to $726,525 from the current limit of $679,650. FHA periodically updates the lending limit to reflect prevailing home values across the nation. Home values have increased substantially … Read More >>

FHA Changes to the Reverse Mortgage

FHA Rolls Out New Changes to the HECM Reverse Mortgage

If there’s one constant in the reverse mortgage industry, it’s change. FHA has once again made some significant tweaks to the HECM program to make it work better and be more stable for seniors. This latest round of changes is a bit of a mixed bag; there’s both positives and negatives for reverse mortgage borrowers, depending … Read More >>

How Many Reverse Mortgages?

How Many Reverse Mortgages Are Done Each Year?

The reverse mortgage industry is a relatively small niche of the broader mortgage industry. Though many mortgage lenders offer HECM reverse mortgages (the dominant product in the industry), relatively few have been able to build large and consistent businesses around the product. About 50% of all reverse mortgages written in 2016 were by the top 5 … Read More >>