Found this great little article piece regarding who is originating reverse mortgage loans.
Fifty two per cent of new reverse mortgage loans were written by mortgage brokers and financial planners in the second half of 2008, compared to 43 per cent that were written directly by the banks in the same period.
There were more than 2,600 reverse mortgages written in the second half of 2008, down approximately 25 per cent compared to the previous first half of the year. However, the amount held by existing loans grew by 8 per cent in the second half of 2008, and 23 per cent for the entire year.
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