The HECMs identity, purpose, and true intent
Anyway you slice it, the reverse mortgage industry is struggling to get back on a positive trajectory. Not surprising considering the glut of regulatory changes and product revisions we have absorbed in recent years. The silver lining is the immense market potential that lies ahead. The uncertainty lies in the question, what will the HECM program look like in the future?
Beyond regulations, product changes and product restriction we face another quandary, a crisis of identity and purpose. Much of the HECM’s identity crisis can be attributed to our traditional needs-based borrower of yesteryear…
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