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How adjusting quickly to the adjustable product will better prepare us for more change
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Reverse Mortgage Industry News

Opportunity In The Reverse Mortgage Industry

It’s a common phrase used in business and government. A call to return to founding principles, practices or behavior that historically led to success. The reverse mortgage industry has just such an opportunity today. The opportunity to return to a more traditional product mix of adjustable products with lines of credit or tenure payments. The opportunity to provide a broader range of choices and flexibility for senior homeowners.

Such a paradigm shift in thinking is especially challenging for those who are relatively new to our industry who entered during the fixed rate standard era. But a larger challenge looms ahead. The Financial Assessment and escrow set asides….

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  1. Even in the early days of HECM for Purchase, all but a small percentage were HECM ARMs. While it has never been as easy to present HECM ARMs as HECM fixed rates to seniors, the HECM ARM would have been much better for many seniors who obtained HECM fixed rates had they been better advised.

    While I did not get a chance to be at the presentation a few days ago, I look forward to viewing it soon.


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