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Real Estate
The Real Estate Adviser |
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February 1, 2007
The Real Estate Adviser: Legislators, lenders brace for more reverse mortgages
By TOM KELLY
Special to the Journal
Special to the Journal
The number of federally insured reverse mortgages made in the United States last year jumped 77 percent, and legislators and lenders are bracing for another huge increase in 2007.
The Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development, insured 76,351 Home Equity Conversion Mortgages in 2006 compared to 43,131 for 2005. The HECM is the most popular reverse mortgage program and accounts for nearly 85 percent of the reverse market.
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Previous columns:
- Real Estate Adviser: Borrowers with 100% loans worry Wall Street, 01-25-2007
- The Real Estate Adviser: More fuel on the fire of commission fees, 01-18-2007
- The Real Estate Adviser: Mexico options improve for second-home buyers, 01-11-2007
- What's in, what's out for homes in 2007, 01-04-2007
- The Real Estate Adviser: Taking a look at the 2006 housing scene, 12-28-2006
- The Real Estate Adviser: Our first Christmas in an empty nest, 12-21-2006
- The Real Estate Adviser: Long term housing outlook is still bright, 12-14-2006
- The Real Estate Adviser: Top real estate team's annual sales: $540M, 12-07-2006