The reverse mortgage industry is one where the rules and realities that govern it can change on a very quick basis, and because of that, the literature that’s dedicated to telling people about it needs to change, too. This was one of the basic realities understood by Shelley Giordano, founder and chair of the Funding […]
When examining the totality of negative press that reverse mortgage products have to endure, many of the most persistent reputational hurdles faced by the products arise from people viewing the products themselves in isolation as opposed to a single part of a larger retirement strategy. This is according to Dr. Wade Pfau, professor of retirement […]
Reverse mortgage originators are not typically in a position to answer tax questions from their clients, but that doesn’t mean borrowers won’t have tax questions to ask, and it can help for originators to know where to point borrowers for the information they will need should those questions arise. While the following information could be […]
The Home Equity Conversion Mortgage (HECM) for Purchase program was initially designed in such a way so that a previously more complicated process involving two mortgage transactions could be simplified, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services, in a new piece at Forbes. “The government saw […]
At first he started to think of reverse mortgages as a tool of last resort for retirees, but Steve Vernon, FSA and consulting research scholar in the financial security division at Stanford University’s Center on Longevity, began to come around on them as a viable way for people to avoid sequence of returns risk when […]
While reverse mortgage originators are likely to agree that they need to give potential borrowers all the information they need in order to make an informed decision, talking too much about reverse mortgage product features and details could actually work far more against a loan officer’s efforts. This was the main argument made by Craig […]
For reverse mortgage originators, marketing themselves to trusted advisors like Certified Public Accountants (CPAs), estate attorneys or financial planners can be a difficult prospect. On top of the reputational issues that plague reverse mortgage products on a persistent basis, reverse mortgage loan officers themselves can often get bogged down in the details of the product […]
Citing a 2015 study by the Consumer Financial Protection Bureau that revealed consumers’ lack of understanding about reverse mortgage products, a new article at Fox Business written by reporter Linda Bell aims to address what potential borrowers “need to know” about taking a reverse mortgage. “While reverse mortgages can help some older homeowners meet their […]
Dan Hultquist, reverse mortgage product educator and author of “Understanding Reverse,” has been appointed Vice President of Organizational Development for Tulsa, Okla.-based Finance of America Reverse (FAR), the company announced Monday via a press release. “[Hultquist] joins the firm’s Learning and Development practice and will play a key role in the ongoing development of compelling […]
Using a multimedia outreach strategy, illustrating a client’s goals in terms of asset preservation, and being honest in order to establish trust: these are just some of the effective strategies of experienced reverse mortgage sales professionals shared in a roundtable discussion about selling reverse mortgage products in today’s world, which took place this week at […]
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