RMS Touts Market Share Growth

Reverse Mortgage Solutions, Spring, Texas, said it has grown notably over the last 18 months since it was founded to the point where it has become the largest privately-held subservicer of reverse mortgages. The company said it recently has been boarding in excess of 22,000 loans, which suggests this is relatively high volume in the government program-dominated and demographically-promising but complex market for these loans, which are designed to allow seniors to derive cash flow from their properties while still living in their homes. In addition to its acting as a subservicer, RMS offers a Web-based front-end loan origination system and a secondary market structure through which it said it has provided servicing, subservicing and master servicing on over 40% of the Ginnie Mae securitizations of government reverse mortgages that have been issued to date.