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 […]
It’s no secret that in terms of the ways it’s communicated to the public as a financial product, the reverse mortgage has had difficulty in both gaining and maintaining public trust. Reputational challenges abound for the industry when trying to connect with potential borrowers, which can be impeded further depending on the kind of media […]
When it comes to being a reverse mortgage originator, there are many different job-specific duties and attributes that make the profession unique. Far more than those working in the traditional forward mortgage space, reverse mortgage originators often have to take a slower, consultative approach to interacting with clients and walking them through the complexities of […]
When drilling down on the primary reasons that a borrower may decide to take a reverse mortgage, whether they want to supplement their income, modify their home so it’s easier to stay there longer, or even head out on some kind of vacation, these reasons primarily boil down to a basic idea. It’s all about […]
Reverse mortgage originators are on the front lines of the industry every day pursuing leads, talking to potential borrowers and directly dealing with any changes that may affect the ways that reverse mortgage products work. RMD is proud to introduce the new regular feature “Origins,” question-and-answer sessions with originators to learn about what led them […]
As more alternative home equity tapping tools like sale leasebacks and shared equity products begin to enter conversations about retirement, more traditional reverse mortgage products are finding themselves in a more competitive environment. Originators don’t tend to see these products as threatening, but more traditional reverse mortgages may have another key advantage: borrower safety. The […]
