Slow & Steady Growth Depends on Partnering with Financial Professionals
Since the housing and economic crash of 2008 our industry has had its collective eye focused on the horizon seeking for signs of a significant rebound in reverse mortgage volume. Despite earlier predictions we have come to realize that the growth of the Home Equity Conversion Mortgage will be slow and steady. With this realistic view in mind more lenders and brokers are seeing the value in partnering with financial professionals.
While the return to annual HECM endorsement volumes exceeding 100,000 units may be some years away future growth may be fueled by increasing acceptance by the financial planning community. Several factors have contributed to the increasing acceptance of the reverse mortgage in the media and by financial professionals alike: consumer safeguards, reduced costs, the rediscovery of the HECM line of credit and recent studies illustrating the benefits of incorporating the loan into modern retirement planning. The tide has begun to turn when it comes to the acceptance of a long misunderstood and maligned loan.
“There are several signs in the air that the world is starting to get a little different,” said Tom Davison
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