Why Clarity is Key for Reverse Mortgage Post-Death Issues

Death is always a disruptive occurrence, and in the realm of financial planning, it can be a critical point at which surviving heirs need to make some key decisions regarding the fate of a decedent’s estate and assets. For someone who had a reverse mortgage on his or her home at the time of death, […]

Reverse Mortgage Retail, Wholesale Volume See Similar Drops in November

Home Equity Conversion Mortgage (HECM) endorsements fell by 9.4% in the month of November 2020, for a total of 3,390 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]

Reverse Mortgage Leaders: 2021 is Cause for Optimism, Innovation and Growth

Though the onset of the COVID-19 coronavirus pandemic caused a great deal of turbulence and uncertainty in different parts of the reverse mortgage business, indications from lenders, brokers and originators signify that the economic situation created by the unique moment created additional interest in the reverse mortgage product category. For the new year, that has […]

Why Reverse Mortgage Pros Must Stress Accuracy in Borrower Conversations

Reverse mortgage professionals who find themselves regularly interacting with potential or actual borrowers must take the extra step of ensuring as much accuracy in their presentations as possible. Any proverbial “wiggle room” that exists in something that is related by loan originators or other professionals has the chance to be misconstrued by a borrower, so […]

Look Out for These 4 Reverse Mortgage Industry Trends in 2021

Now that we’ve all opened presents and sang our renditions of “Auld Lang Syne,” it’s time to get back to work. The reverse mortgage industry is on the cusp of another eventful year in 2021 because of a lot of different components including changes to the Home Equity Conversion Mortgage (HECM) lending limit, a new […]

Reverse Mortgage Executives Look Back at Eventful, ‘Resilient’ 2020

The experience of working in the reverse mortgage industry in 2020 inspired many different reactions at different parts of the year, from general optimism in the first couple of months to uncertainty during the immediate onset of the COVID-19 coronavirus pandemic. Soon after that point, things started to take a bit of a different turn […]

Reverse Mortgage Volume Dips Led by Wholesale in October

Home Equity Conversion Mortgage (HECM) endorsements fell by 4.6% in the month of October 2020, for a total of 3,741 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall comes in the midst of generally heightened reverse mortgage industry activity that has been taking place over the past few […]

NRMLA Board Elects Norman, Kent as Co-Chairs

The Board of Directors for the National Reverse Mortgage Lenders Association (NRMLA) has elected its co-chairs to serve in the 2020-2021 term. Scott Norman of Finance of America Reverse (FAR) and Mike Kent of Liberty Reverse Mortgage were unanimously elected. Norman was first elected to NRMLA’s board in 2012, and serves as FAR’s VP of […]

Why Reverse Mortgage Pros Should Avoid Saying ‘Always’ and ‘Never’ to Clients

Considering that the reverse mortgage industry is the subject of a lot of misguided information in the minds of the public, one of the most efficient paths to improving the reputational issues of the industry comes in direct interactions between loan originators and their clients. Words in these instances matter, which is precisely why absolutism […]