Reverse Mortgage Loan Officers Report a Summer Business Bump

Reverse mortgage loan officers across the country are seeing a noticeable uptick in reverse mortgage business compared with levels observed in the summer of 2019, which many estimate to be related to a confluence of factors like the additional stress created by the COVID-19 coronavirus pandemic, along with a greater level of receptivity to the […]

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 […]

Coronavirus Impacts on Reverse Mortgage Operations, Meeting Clients

The outbreak of the COVID-19 coronavirus pandemic has led many who do business in the reverse mortgage sector to consider additional layers of caution for their operations in order to try and minimize the virus’ spread. For a long time, a loan originator trekking out to a prospective borrower’s home and sitting at the kitchen […]

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 […]

Origins: From Funeral Director to Reverse Mortgage Originator

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 […]

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 […]

3 Tips for Training Forward Originators into Reverse Mortgages

Finding dedicated reverse mortgage personnel that have been trained strictly in the reverse discipline can be a difficult thing for recruiters at various lenders, which is why it’s generally common for some of those lenders to find loan officers who have been trained and working on the forward side through something of a “conversion” process. […]

Tips for Talking to ‘On-The-Fence’ Reverse Mortgage Prospects

For originators, having sales conversations that ultimately yield a new reverse mortgage loan that accomplishes the goal of closing while meeting the specific needs of borrowers is always the goal, but that goal also comes with the chance of failure. Sometimes making those conversations even more difficult is a scenario in which a potential borrower […]