Tips for Embracing Advantages, Avoiding Pitfalls of More Tech in Reverse Mortgages

Meeting with a wider pool of clients than was previously possible, and streamlining processes that could previously take much longer are just some of the advantages to the greater incorporation of technological tools into the reverse mortgage business, according to two originators in a recent panel discussion. While there has been an increasing level of […]

How to Sell Reverse Mortgages Without Face-to-Face Meetings, Open Offices

Video conferencing tools, personalized digital presentations, embracing remote work and becoming comfortable with a “new normal” are all elements that can help reverse mortgage industry players continue to operate and thrive in the current climate defined by the COVID-19 pandemic. This is according to a digital sales panel featuring reverse mortgage specialists which took place […]

Fed Interest Rate Cut Spurs Reverse Mortgage Lender, Borrower Action

As the world continues to react to the widening spread of the COVID-19 coronavirus, the global economy has so far reacted strongly to the increasing possibility of social disruption that has been brought about by preventive measures being put into place by nations, communities and companies around the world to further contain the virus’ spread. […]

Originators Debate What to Call Private Reverse Mortgages

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 […]

Origins: A Father-Daughter Team Shaping the Reverse Mortgage Landscape

There’s an old adage that says that “two heads are better than one,” and when it comes to the promotion and origination of reverse mortgages, having a team work together toward a common goal can often be a difference-making advantage. One of those teams is a little more unique than others that you may find, […]

The Best Path For Reverse Mortgages: Private vs. HECM Loans

The reverse mortgage market has long awaited the return of private products to a HECM-heavy market. Now that several products are making inroads across the lending landscape, a question arises concerning what constitutes the right balance of HECM and proprietary loans. There’s no shortage of originators who would like to see a viable private alternative […]

How to Manage Reverse Mortgage Expectations for Condo Owners

The difficulties that surround establishing a reverse mortgage transaction with a condominium as the liened property is a persistent issue in the larger reverse mortgage industry, and requires a degree of sensitivity from loan officers working with potential borrowers who are trying to use a condo as the basis for a reverse mortgage. Because of […]

The Eroding Barriers Between Forward and Reverse Mortgage Originators

As more reverse mortgage companies continue to expand their operations into the forward space in response to business changes and new realities, a shift appears to be taking place in what was once seen as conventional wisdom: the separation of forward and reverse mortgage business practices, in order for originators to remain specialized in one […]

RMD Report: Reverse Mortgage Market Looks to New Year After Rocky 2018

In light of the changes made to the reverse mortgage product over the past 15 months, observers and originators in the reverse mortgage business find themselves at a crossroads. Some express frustration over opportunities having been affected by rule changes implemented to principal limit factors (PLFs) in October 2017, while others express encouragement by recent […]

For Reverse Mortgage Originators, Government Shutdown is Business as Usual

Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]