Long Island Business News recently published the transcript of a 2 minute interview with Senior Lending Network CEO David Peskin. Journalist Laura Glasser asks the typical reverse mortgage questions but also touches on things like:
What’s the competition like in the industry?
The top lenders are doing less business today and there are more lenders doing more business. In other words, the shift from the bigger companies doing all of the business has gone to being a little bit more diversified. We’re definitely seeing a lot of new players coming in.
What about the credit crunch?
Clearly there is some impact. Investors are looking for higher yield which in turn makes your loans less valuable in the current environment. We’re currently holding onto our loans. We’ve done securitizations in the past but right now we’re holding onto them. We think the loans are great loans and we’re not forced to sell them, which is good.
Click here to read the rest of the interview… definitely worth the two minutes.