Tennessee has enacted a new state law that opens up originations for proprietary reverse products. Processing Content Approved in both state chambers this spring, the Tennessee Reverse Mortgage Innovation Act was signed into law in late May by Gov. Bill Lee. The act effectively changes language found in previous legislation, which restricted reverse lending to […]
Tennessee legalizes proprietary reverse mortgages Read More »
U.S. home equity levels pulled back to start the year, with the number of underwater mortgages now at its highest point since early 2022, according to real estate data platform Attom. Processing Content The share of seriously underwater properties across the U.S. increased to 3.2% in the first quarter, Attom researchers said in a new
Underwater mortgage rate hits 4-year high mark Read More »
Home Equity Conversion Mortgages endorsements fell for the second month in a row in April, although trends show proprietary reverse products are now filling some of the void. Processing Content Endorsements of the Federal Housing Administration-backed product dropped 1.4% between February and March to 2,088 loans from 2,117, maintaining a slowdown that appeared in the
HECMs lose ground to proprietary reverse products Read More »
With refinance activity constrained and purchase volume under pressure, lenders are being forced to rethink their sustainable growth plans. The answer is becoming clear: home equity. As millions of homeowners remain locked into low mortgage rates, they are turning to second liens and mortgages to access equity without disrupting their primary loan. Tom Davis, Chief
Home equity emerges as a generational growth strategy for originators Read More »
Maine’s governor signed new legislation last week, applying comprehensive regulations to originations of home equity investment products in classifying them as “residential mortgage loans.” Processing Content Gov. Janet Mills signed the bill into law following early April passage in both chambers of the state’s legislature. In labeling HEIs as “shared appreciation mortgage loans,” bill LD
Maine introduces bill to ‘effectively ban’ HEI contracts Read More »
Seniors are turning to reverse mortgages as they struggle to keep up with the costs of living, a new industry report found. Processing Content More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024, according to GreenPath Financial Wellness,
Reverse mortgage clients face growing budget deficits Read More »
As automation reshapes mortgage operations, the industry’s next challenge is to help borrowers navigate the complex decisions that shape their lives—not just to close the loan faster. For the better part of a decade, the mortgage industry has been obsessed with a single metric: speed. We have poured billions into “Sales Infrastructure”—digital applications and lead
The GPS for equity: Building the industry’s first true navigation infrastructure Read More »
With mortgage rates still hovering above 6% and far greater than those seen during the pandemic, homeowners are choosing to renovate their homes rather than move. Processing Content About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin that was
Lock-in effect drives home renovation boom, Redfin says Read More »
A borrower’s age should shape every financing recommendation, yet it is often treated as a secondary detail when a senior wants, or needs, access to a portion of their equity. Consider that most mortgage advice is built on the assumptions that the borrower will continue working and has time and resources to recover from financial
Age matters in home equity decisions Read More »
Home equity investment provider Unison is the target of a potential class action lawsuit in Colorado that could void its existing contract agreements in the state. Processing Content In legal documents filed in Colorado federal district court this week, plaintiffs Katharine and Charles Kane sued the San Francisco-based HEI firm after discovering the amount they
HEI customers file new class action against Unison Read More »