What Rising Reverse Mortgage Refinances Could Mean for the Industry

Refinance transactions are commonplace in the broader world of mortgages, and they appear to be increasingly common for the reverse mortgage industry. As low interest rates continue to fuel mortgage production generally, many reverse mortgage borrowers have become interested in refinances to take advantage of the current low-rate environment. Interest in this kind of activity […]

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 […]

Tech Brings Forward and Reverse Mortgages Closer Together, Expanding Opportunity

As the COVID-19 pandemic has necessitated the reverse mortgage industry to more quickly embrace new kinds of technologies in order to continue efficiently keeping the business moving, the additional benefit that comes with that transition is that operational processes are being brought more closely in-line with the way the traditional, forward mortgage space operates. This […]

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 […]

PRMI’s Sless Group Adds New LO Assistant as First Remote Hire

Primary Residential Mortgage (PRMI)’s Steven J. Sless Group, the lender’s consumer-direct retail branch focused solely on reverse mortgages in Owings Mills, Md., has hired Justin Zornman as a loan officer assistant. This marks the first remote hire made by the organization, as the nature of work continues to change for many companies due to the […]

[Updated] Reverse Mortgage Offices Take Steps to Begin Reopening

The economic impact of the COVID-19 coronavirus pandemic has universally affected the operations of virtually every business in America, with many non-essential operations shuttered for months following the spread of the virus into global pandemic status as people and organizations grappled with ways to continue operating. The reverse mortgage business is no exception, particularly since […]

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 […]