The reverse mortgage industry recorded a loss of 32.3% in volume for the period of January-July 2019 compared to the same period in 2018, according to a recent report. However, one company has found a way to foster success in what has been a tough market for other competitors.
"While much of the industry adapts to a climate of reduced HECM volume, there are some reverse mortgage companies that have managed to not only maintain business, but also grow it by leaning on key elements they’ve identified," according to Reverse Mortgage Daily.
"One such company that has recorded HECM volume growth is Madison, Wis.-based Fairway Independent Mortgage Corporation."
The company has increased its market share from 2.17% between January and August 2019 to 3.29% for the same period in 2019. This increase shows that Fairway is outperforming the industry's level of decline, according to RMD.
To learn more about Fairway's reverse mortgage success in a troubling climate, click on the image above.