The National Reverse Mortgage Lenders Association has embarked on the “soft launch” of a new consumer-facing website that will serve as a resource for reverse mortgage borrowers as well as lenders. Launched as part of a new consumer campaign coined “Borrow with Confidence,” the new site, www.reversemortgage.org provides in-depth resources for borrowers who are considering a reverse mortgage. It replaces NRMLA’s former consumer resource with a new design and navigation.
“We view reversemortgage.org as an entirely new site,” says Peter Bell, NRMLA president and CEO. “The look is new, the content is new, and there are many new educational tools included.”
The site’s content is based largely on input from lenders, Bell says.
“All of this has been created with extensive input from our membership. We asked lenders, originators, servicers, closing agents, what is the information clients most want and need—and we tried to include all of it. Our goal was to make the educational process for seniors and their families and advisors more accessible and more comfortable,” he says.
From advice to children of borrowers to a detailed description of the loan process from application to counseling, closing and disbursement, the site also includes a list of NRMLA-certified reverse mortgage professionals.
Frequently-asked-questions address common borrower concerns regarding servicing, insurance, requirements, loan types and other details regarding the products available today.
“This is a soft launch, a chance for our membership to have a look and feed us suggestions as well as to monitor how the site functions,” Bell says.
NRMLA is currently collecting feedback on the new site and ways that it can best serve the borrowing population as well as members. The association will conduct webinars in the coming month to walk members through the site and is planning a wider public launch for roughly a month from now.
Written by Elizabeth Ecker