Reverse Mortgage Client Relations, Referral Partnerships Have Added Meaning During Pandemic

The reverse mortgage business has always been a consultative endeavor, since originators often take on the role of a guide for their senior clients through a complicated, but potentially effective financial instrument to help provide them with additional cash when they need it. For years, the reverse mortgage business was a “kitchen table” affair, with […]

Financial Planners: Chase’s HELOC Pause Could Give Reverse Mortgages an Advantage

Last week, JPMorgan Chase announced that it has temporarily halted acceptance of applications for home equity lines of credit (HELOCs) due to the ongoing economic effects of the COVID-19 coronavirus pandemic, specifically the combined impacts of rising rates of unemployment and initial projections that home prices could fall. The exit of a major financial institution […]

Reverse Mortgage Potential Remains High in a Post-Coronavirus Future

When it comes to the global economic impact of the COVID-19 coronavirus pandemic, no business sector has been sheltered. While service, hospitality and travel industries are making headlines for particular hardship being faced by the pandemic, the economic ripple effect stemming from this outbreak is sure to reach every corner of the global economy to […]

Coronavirus Spurs Reverse Mortgage Pros to Amend 2020 Plans

The outbreak of the COVID-19 coronavirus pandemic has caused many American seniors to more seriously consider tapping their home’s equity to make ends meet in retirement. For some reverse mortgage professionals, the greater necessity for cash flow has translated into additional product inquiries and full loan pipelines. Still, no one is spared the economic impact […]

How Coronavirus is Impacting Reverse Mortgage Inquiries and Meetings

Reverse mortgage professionals across the country are being inundated with a constantly-evolving situation related to the COVID-19 coronavirus pandemic. For some seniors whose retirement plans have been affected, looking at reverse mortgages has become a way to access needed cash. This is according to outreach conducted by RMD, and results of a recent Pulse Survey […]

Reverse Mortgages in Massachusetts Stalled by Pandemic

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 […]

How Technology Can Normalize and Expand the Reverse Mortgage Industry

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 […]

How to Describe New Reverse Mortgage Product Landscape to Clients

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 […]