Home Equity Conversion Mortgage (HECM) business in the state of Massachusetts has been effectively put on pause by the outbreak of the COVID-19 coronavirus pandemic, since a face-to-face counseling requirement within the state makes it impossible for seniors to move forward with reverse mortgage loans while adhering to business restrictions and social distancing guidelines put […]
The state of Texas had been resistant to reverse mortgages, and home equity lending in general, for a very long time before things started to change in the 1990s. Much of the change in the state’s perspective on the matter was due to the efforts of Scott Norman, whose career as a legislative aide for […]
At a time when reverse mortgage lenders are finding themselves with a broad, more robust product landscape, finding new ways to connect with borrowers and simplify the reverse mortgage process becomes increasingly important. With additional product options comes new ways for technology to play a part in multiple levels of the business, and reverse mortgage […]
The modern reverse mortgage product landscape has grown in recent years to include a variety of different options that either come with insurance for the lenders by the government, or that don’t include the government at all. As proprietary reverse mortgage options continue to become more prevalent (even as some within the industry debate exactly […]
Although he was near the age of 80 and had been semi-retired for several years in East Tennessee, Don Larson – who had spent a 45-year career at the Aflac insurance company – was still occasionally quoting insurance to people in his community. When Loren Riddick, national director of reverse mortgage lending at Thrive Mortgage […]
You’ve likely seen him at industry events talking about how much he loves sales, and perhaps you’ve even been lucky enough to hand him a business card and get a $100 bill in return. Norcom Mortgage SVP of Reverse Lending John Luddy is a memorable personality to any reverse mortgage professional he comes into contact […]
Proprietary reverse mortgages are becoming increasingly prevalent in the modern home equity release industry, as evidenced by the amount of new products being created by lenders as well as the general optimism the industry is feeling as a direct result of those products’ larger place in the conversation. As proprietary reverse mortgage products become more […]
Certified Financial Planners (CFPs) that have historically been resistant to the use of reverse mortgages in stabilizing the finances of their clients are continuing to evolve their perspectives on reverse mortgage products in a few key ways, and continual refinement of the language that originators can use in attempting to appeal to them as referral […]
Reverse mortgage professionals are well aware of the reputational hurdles that their industry faces in terms of connecting with seniors and the wider public. Still, even the most well-meaning reverse mortgage loan officer can have their own, long-held notions about product and industry guidelines shaped by a series of misconceptions, making it necessary to try […]
Encouraging financial preparedness in later life is a core discussion point for people who work in the reverse mortgage profession, and industry literature is rife with examples concerning ways in which the wealth and savings of older Americans can often be unprepared to withstand and extend through a senior’s retirement. One of the realities that […]
