The race to innovation continues within the reverse mortgage industry as four new Home Equity Conversion Mortgages (HECM) product variants have come online in the last few months, says Shannon Hicks in this week’s Reverse Focus podcast.
As new products launch, reverse mortgage counselors are trying to catch up by seeking more information about these new HECM variants.
Also discussed, non-bank servicers of mortgage loans could be at credit risk as regulatory scrutiny heats up, according to a recent report from Moody’s. There is also concern that increased regulatory pressure could lead large servicers to become the next generation of non-prime originators.
In another story, aging in place might be fit for some, but not for all, says a recent report the Institute for Research on Public Policy. The report’s author suggests that aging in place initiatives will be more successful if they are highly customized and geared toward a specific group.
Lastly discussed, product changes and new protocols for mortgage servicing impacted the reverse business of Walter Investment Management Corp. (NYSE: WAC). While the company believes its reverse channel has hit the bottom, from here on out there’s nowhere to go but up.
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- Four new fixed rate HECM products
- Non-bank mortgage servicers at risk
- Aging in place best for middle income seniors
- It’s only up from here: Have we already hit the bottom?
Listen Now. “Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Focus.