Total Turnaround: Rising Homeownership Rates are Expected to Increase Demand for Industry Services
Reverse Mortgages Providers
The Reverse Mortgages Providers industry has expanded over the five years to 2018. This industry is heavily regulated and has undergone significant structural changes over the past five years. The exit of Wells Fargo, Bank of America, MetLife and other large financial institutions from the industry has created a vaccuum for nonbank institutions, such as American Advisors Group, to grow rapidly in this industry. An aging population, compounded with the Federal Housing Administration's insurance on home equity conversion mortgages (HECMs) has made this financial product attractive for the growing elderly population. The Reverse Mortgages Providers industry is anticipated grow over the five years to 2023, albeit at a decelerated pace. The number of adults aged 65 and older is expected to rise over the next five years. In addition, the homeownership rate is expected to increase, raising demand for the industry. Nonetheless, higher rates of personal savings during the outlook period will reduce the need for seniors to draw from equity in their homes.
This industry includes private industry companies that originate, broker and service reverse mortgage loans. Reverse mortgages are loans available to seniors that are used to release funds from their home’s equity in one lump sum or multiple payments.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- American Advisors Group
Methodology
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