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What’s going on in MY market?

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In part two of our interview with Reverse Market Insight’s president John Lunde, we look at how you can get detailed information about your local reverse mortgage market. Who is my competition? How many loans are being closed in my area? These and other questions are answered.

 

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  1. Like Mr. Lunde, the only way to talk about anything positive for the industry in the way of endorsements is either to talk about specific lenders or to talk about the future. As of today using the four month lag rule for application to endorsement, there is but six months and four days left before the end of the period to gather applications for endorsement count purposes for the fiscal year ending September 30, 2013.

    When we compare to the four months of inventory in case number assignments for this fiscal year it is over 7% lower than it was for last fiscal year. So it is hard to imagine where these signs of better endorsements are coming from. In fact as to the industry, they do not exist.

    When it comes to individual lenders, many are doing better than even last fiscal year. The problem was and remains at the industry level.


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