New RM Products & Opportunity

Shannon Hicks June 6, 2018 1

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A slate of new proprietary reverse mortgages coming

Norcom-FI.001 copyDuring the NRMLA meeting in New York City the upcoming release of new proprietary reverse mortgages was discussed. Will this help offset some of the impacts from last October 2nd changes?

About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here

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One Comment »

  1. Carmine DeSota June 9, 2018 at 1:15 pm - Reply

    Mr. Luddy,

    I remember 2006-2008 where the production atmosphere was just the opposite; they were the go-go days when nothing appeared to be able to stop us. They were the good ol’ days.

    Yet we all got excited at the West Coast and East Coast NRMLA Conferences during 2006 and 2007 about proprietary products as they started from California and spread across the US first coast hoping and then filling in the rest. 2008 was a year of trying to keep up with who were the last holdouts on these products.

    Three favorites were the Financial Freedom/Lehman Brothers Cash Account, the B of A TIP (The Independence Plan), and The Gold Plan offered by an insurance company that apparently was not otherwise directly involved in the reverse mortgage industry. So what did you learn specifically about these products?

    I look forward to your monthly marketing calls.

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