Reverse Mortgage Industry Gathers for Meeting of the Minds in Chicago

Next month’s annual gathering of reverse mortgage professionals will bring together the industry’s most influential lenders, researchers and policy makers to Chicago to discuss the current state of the reverse mortgage market and what lies beyond.

A lot has changed for reverse mortgages in the past few years. But while the industry has already adapted to some of the biggest changes ever to come to the Home Equity Conversion Mortgage (HECM) program, new proposals are already on the agenda for the Department of Housing and Urban Development.

Reverse mortgage professionals will be able to gain insight on recent HECM program changes and how they are currently impacting market performance when key HUD staff present their findings during next month’s 2016 Annual Meeting & Expo hosted by the National Reverse Mortgage Lenders Association (NRMLA) in Chicago.

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As the industry awaits further rulemaking action from HUD on its latest round of proposed HECM changes that were introduced earlier this year, attendees will also have the chance to hear more about the agency’s future priorities for the HECM program.

A forward-looking discussion on where the reverse mortgage business is headed will also be provided during the conference by NRMLA’s executive committee, which is comprised of top-ranking officials with several of the industry’s leading companies.

The conference will also feature a presentation by guest speaker Kathryn Lawler, manager of Aging and Health Resources with the Atlanta Regional Commission (ARC). A master of public policy from Harvard University, Lawler joined ARC’s Aging Services Division in 2002 to manage the Aging Atlanta project, a coalition of 50 community organizations and local governments working to prepare the region for the increasing demands of the aging adult population.

At the conference, Lawler will discuss the issue of longevity and its impact on retirement funding, housing, health care, job creation, entertainment—just about every aspect of society today—and how reverse mortgage professionals can educate and prepare their clients for the years ahead.

Attendees will also be able to further their own personal growth through several sessions focused on improving the borrower experience, where they will learn tips on how to identify opportunities to clarify and simplify some of the more arduous parts of the HECM transaction.

Industry members will also lead a roundtable discussion on the language of reverse mortgages, which will take a look at certain HECM terms might be too complicated for borrowers to understand, as well as the potential for how simplified wording could grow the market.

See which other educational opportunities await at this year’s conference by viewing the agenda for the 2016 Annual Meeting & Expo here.

Written by Jason Oliva

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