Global Reverse Mortgage Providers Market Growth (Status and Outlook) 2023-2029

Global Reverse Mortgage Providers Market Growth (Status and Outlook) 2023-2029

In a word, a reverse mortgage is a loan. A homeowner who is 62 or older and has considerable home equity can borrow against the value of their home and receive funds as a lump sum, fixed monthly payment or line of credit. Unlike a forward mortgage—the type used to buy a home—a reverse mortgage doesn't require the homeowner to make any loan payments.
Instead, the entire loan balance becomes due and payable when the borrower dies, moves away permanently or sells the home. Federal regulations require lenders to structure the transaction so the loan amount doesn't exceed the home's value and the borrower or borrower's estate won't be held responsible for paying the difference if the loan balance does become larger than the home's value. One way this could happen is through a drop in the home's market value; another is if the borrower lives a long time。
The Reverse Mortgage Providers industry can be broken down into several segments, Home Equity Conversion Mortgages (HECMs), Single-purpose Reverse Mortgages, etc.
Across the world, the major players cover American Advisors Group (AAG), Finance of America Reverse (FAR), Reverse Mortgage Funding (RMF), etc.
LPI (LP Information)' newest research report, the “Reverse Mortgage Providers Industry Forecast” looks at past sales and reviews total world Reverse Mortgage Providers sales in 2022, providing a comprehensive analysis by region and market sector of projected Reverse Mortgage Providers sales for 2023 through 2029. With Reverse Mortgage Providers sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Reverse Mortgage Providers industry.
This Insight Report provides a comprehensive analysis of the global Reverse Mortgage Providers landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Reverse Mortgage Providers portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Reverse Mortgage Providers market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Reverse Mortgage Providers and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Reverse Mortgage Providers.
The global Reverse Mortgage Providers market size is projected to grow from US$ 1602 million in 2022 to US$ 2395 million in 2029; it is expected to grow at a CAGR of 5.9% from 2023 to 2029.
Reverse Mortgage are mainly classified into the following types: HECMs, Single-purpose Reverse Mortgages and Proprietary Reverse Mortgages. HECMs is the most widely used type which accounted for about 62% of the Global market in 2019.
Reverse Mortgage are most widely used in Debt, which took up about 36% of the Global market in 2019. Health Care Related is another widely used area, which took up approximately 24%.
North America is the largest region of Reverse Mortgage Providers market with a share of 54%. The Europe market took up about 28 % of the global market, while The Asia-Pacific were over 10 %.
This report presents a comprehensive overview, market shares, and growth opportunities of Reverse Mortgage Providers market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Home Equity Conversion Mortgages (HECMs)
Single-purpose Reverse Mortgages
Proprietary Reverse Mortgages
Segmentation by application
Debt
Health Care Related
Renovations
Income Supplement
Living Expenses
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
American Advisors Group (AAG)
Finance of America Reverse (FAR)
Reverse Mortgage Funding (RMF)
Liberty Home Equity Solutions (Ocwen)
One Reverse Mortgage (Quicken Loans)
Mutual of Omaha Mortgage
HighTechLending
Fairway Independent Mortgage Corporation
Open Mortgage
Longbridge Financial

Please note: The report will take approximately 2 business days to prepare and deliver.