What is Reverse Mortgage Provider Market?
Reverse mortgage is a type of loan that is provided to the person who is 62 or older against the value of their home. Reverse mortgage has been becoming popular among senior citizens as a source of alternative income after retirement. The baby boomers, the largest generation of America are entering into retirement are looking for reverse mortgages as an income for long-term care and healthcare planning will accelerate the growth. For a retired person, reverse mortgage is an ideal way to increase financial security as the homeowner doesn't have to pay any loan amount until he/she permanently leaves or after death.
The market study is being classified by Type (Single-Purpose Reverse Mortgages, Proprietary Reverse Mortgages and Home Equity Conversion Mortgages (HECMs)) and major geographies with country level break-up.
State Bank of India (India), Bajaj Finserv Limited (India), American Advisors Group (United States), Quontic Bank (United States), Liberty Reverse Mortgage (United States), Reverse Mortgage Funding (United States), Longbridge Financial (United States), Finance of America Reverse (United States), GrupoRetiro (Spain), LendingTree, LLC (United States) and Fairway Independent Mortgage Corporation (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Reverse Mortgage Provider market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Reverse Mortgage Provider market by Type, Application and Region.
On the basis of geography, the market of Reverse Mortgage Provider has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Popularity of Reverse Mortgage Among the Senior Citizens As It Doesn’t Require Homeowner
- Increasing Number of Retirees and Adoption of Reverse Mortgage as an Alternate Source of Income
- Innovative Reverse Mortgage Solutions With More Advantages
- Variable Rates of Reverse Mortgages and Other Costs Related to Home
- The Expansion of Reverse Mortgage Market and Increasing Awareness in the Developing Economies like India
- Limited Loan Offerings by the Some of Players May Hamper the Growth
Market Leaders and some development strategies
In January 2021, Starwood Capital Group announced the acquisition of Reverse Mortgage Investment Trust (RMIT), the parent company of RMF to meet the increasing demand for reverse mortgages among senior citizens. RMF is the third largest innovative reverse mortgage solution provider with more advantages for old Americans. The acquisition will help RMF to expand its product development capabilities and growth in the market.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Reverse Mortgage Providers, Bank & Financial Institutions, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Reverse Mortgage Provider Market?
"Growing Popularity of Reverse Mortgage Among the Senior Citizens As It Doesn’t Require Homeowner
" is seen as one of major growth factors of Reverse Mortgage Provider Market in years to come.
2. Can we have customized study for Reverse Mortgage Provider Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Reverse Mortgage Provider Market?
United States will lead Reverse Mortgage Provider Market in coming years.