Borrowers overwhelmingly choosing Standard Adjustable. Why?
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Recent Devolpments In The Reverse Mortgage Industry
Noted Business author and speaker Peter Drucker said “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” As we all know FHA recently eliminated the Standard Fixed rate reverse mortgage in hopes to reduce risk to the mutual mortgage insurance fund. But has this change had the desired effect? Let’s examine a few recent developments. While no data is published from HUD on what percentage of HECMs are fixed rate standard versus adjustable some trends are beginning to reveal themselves…