New Trade Group Seeks to Educate Realtors on the HECM for Purchase Program

In an effort to boost the Home Equity Conversion Mortgage for Purchase program, a Florida trade association recently formed to educate Realtors and other professionals about this frequently overlooked option. In January, Certified Reverse Mortgage Professional Tim Linger formally founded the HECM Association, after a couple years of beta testing. The reverse mortgage industry has […]

Navigating the Regulatory Maze of Reverse Mortgage Referrals

Back when she worked as a loan officer, Longevity Funding Task Force chair Shelley Giordano saw referral pipelines that would be much harder to open in today’s more tightly regulated climate. “Branch managers were in contact with people who could bring reverse mortgage clients to us,” Giordano told an audience of industry professionals during a […]

Inside the Reasons Why Seniors Choose the HECM for Purchase

Lifestyle, ease of upkeep, and proximity to family are main criteria for seniors who choose a Home Equity Conversion Mortgage for Purchase loan, many originators agreed. Christina Harmes, assistant manager for C2 Reverse in San Diego, said she has clients looking to upsize, downsize, move to the city or relocate to the country, but most […]

Six Tips for Building a Reverse Mortgage Referral Network

In today’s rocky reverse mortgage landscape, it’s clear that a strong referral network is a major component to success. With profit margins shrinking, there’s little room in the budget for lead buys and marketing, and those who can cut costs by networking for clients might have a better chance of survival. But connecting with other […]

Retirement Expert Joins Call for Broker-Dealers to Lift Reverse Mortgage Ban

For the last several years, the reverse mortgage industry has worked hard to build connections with financial advisors and educate them about the important role housing wealth can play in retirement income planning.  But many reverse professionals say they often hit a roadblock because some broker-dealers prevent their advisors from discussing reverse mortgages with clients. […]

Non-Borrowing Spouse Confusion Continues for Reverse Mortgage Borrowers

The U.S. Department of Housing and Urban Development updated reverse mortgage regulations in 2014 to make it easier for non-borrowing spouses to stay in their homes after the death of the borrower, but problems and confusion over these loans continue. Just last month, a Florida court superseded federal law and ruled in favor of a […]

Live Well Makes Forward Push Amid Reverse Mortgage Uncertainty

In light of the weakened state of the reverse mortgage market, Live Well Financial has begun rapidly expanding its forward mortgage operations. The Virginia-based lender has maintained a forward channel since its inception in 2005, but its focus has largely been on reverse mortgages, which have historically comprised 80% of Live Well’s business.  Bruce Barnes, […]

Reverse Mortgage Originators Decide to Go Big or Stay Independent

As reverse mortgage volumes have decreased since last year’s principal limit changes, moving to a bigger lender is an attractive option for some independent originators. Mario Martirano, a 25-year industry veteran, recently made the move to American Advisors Group after feeling the current stresses of a small business owner. Although he is still getting settled, […]

Could HECM for Purchase Take Off Without the ‘HECM’?

While originators agree that the underutilized reverse mortgages for purchase program needs a boost, they are divided on whether removing the words “reverse mortgage” from its marketing is the solution. During a recent webinar for Realtors, Chris Bruser from Retirement Funding Solutions briefly hinted at the idea of separating the concept of Home Equity Conversion […]

Exploring Home Equity Amid Stock Market Uncertainty

The recent volatility in the stock market has brought stress and uncertainly to many retirees and investors. So far, the roller coaster ride has yet to significantly impact the reverse mortgage industry, loan originators said, but that could change if stocks continue to lose value. As companies were releasing first quarter earnings in late April, […]