Will smaller lenders need to consolidate to survive?
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The Effects Of Change To Reverse Mortgage Product
Product change and regulation are taking their toll on one business model: the small independent broker or lender. Prior to the elimination of the standard fixed rate HECM brokers and smaller lenders were able to absorb the costs of marketing and regulation due to the high premium payouts the fixed rate product offered. Today that has changed. Smaller premium payouts and increased regulatory costs may cause some to consider joining…