In case you missed it, here’s what happened in reverse mortgage news this week:
Show, Don’t Tell: How Reverse Mortgage Sales Need to Change in 2016—In written storytelling, a message is more effectively communicated when the writer shows, rather than tells when explaining details within the narrative. The same holds true in reverse mortgage sales, especially when signifying the roles of loan officers as either sales professionals or educators.
Welcome to the Reverse Mortgage Industry, Danny Glover—Actor and humanitarian Danny Glover is adding another role to his esteemed career: reverse mortgage spokesman. Images of Glover, 69, adorn various marketing materials of USA Reverse, an online lead generator that touts its services as helping people understand Home Equity Conversion Mortgages (HECMs).
Fresh Blood: How Reverse Mortgage Sales Must Change in 2016 (Pt. II)—For the reverse mortgage industry to truly thrive in tomorrow’s marketplace, there needs to be greater investment in attracting, recruiting and training fresh talent, industry sales leaders agree.
Forbes: Reverse Mortgages Vs. ‘Caregiver Loans’—Like many financial products, reverse mortgages have their pros and cons. But where these loans come up short, alternatives may be able to bridge the gap. A recent article published in Forbes’ Personal Finance section explores the reverse mortgage basics, informing readers about the various qualifications, requirements, as well as potential advantages and disadvantages of how these loans work.
Reverse Mortgage Volume Trending 2013 Levels, But Don’t Hold Your Breath—Home Equity Conversion Mortgage (HECM) endorsements fell 7.3% in October compared to the previous month, bringing yet another month of declining loan counts. But as estimates point toward a higher full-year tally than 2014, volume over the past few months has been trending closely to the last time the industry exceeded 60,000 units, according to recent reverse mortgage market data.
Written by Jason Oliva