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All too many times overwhelmed caregivers are physically and emotionally depleted and need to take time to rest and care for themselves. Believing in a holistic approach to caregiver stress and a strong commitment to helping our members find the right solutions, we created this blog to help you connect with others who, like you, may be facing the same eldercare issues and challenges. Feel free to comment, ask questions, and submit articles. Please forward the blog link to your family and friends. They'll be glad you did.

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Patricia Grace
founder & CEO
Aging with Grace

Monday, January 24, 2011

Will 2011 be a better year for the reverse mortgage?

Reverse mortgages took it on the chin in 2011. During the year, reverse mortgages volumes have suffered as a result of the continuation of declining home prices, regulatory changes and headline risk associated with high costs and stories where seniors have been taken advantage of as part of the process.

Final numbers released from Reverse Market Insight show that volumes 35% during 2010, with 72,748 units being endorsed in 2010.

The data for 2010 shows a significant drop in active lenders leading to increasing market share and volumes for lenders who have survived during the last few years. Volumes in December show that Wells Fargo remained the top lender by unit volume followed by Bank of America and MetLife rounding out the top 3.

Read full report...

1 comment:

  1. Last year was kinda a bizarre year for the mortgage market. In the first half of the year, you had a decent number of home sales keeping mortgages for purchases stable, thanks to the home buyer credit. In the second half of the year, that changed as demand crumbled when the credit was withdrawn. At the same time, you had very low mortgage interest rates throughout much of the year cause a mini-refinancing boom. 2011 will look very different, as the housing demand continues to struggle and mortgage interest rates have begun rising.

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