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Taking the long view despite short term impact of Assessment
The reverse mortgage industry is relatively small compared to the traditional lending marketplace yet the recent financial assessment has changed our collective world.
It comes as no surprise that the financial assessment is a game-changer for the Home Equity Conversion Mortgage program. We saw a rush of applications prior to the April 27th deadline and the subsequent trailing endorsement volume reflected a push by lenders and borrowers to forgo the requirements of the assessment. Now that the pre-assessment rush is behind us we can begin to measure the true impact of the new financial guidelines as reflected in the recent top 100 HECM lenders report from Reverse Market Insight…
Download a transcript of this episode here.
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