Substantial HECM Growth Requires a Larger Sales Force
It could be argued that recent indicators show we’ve reached the bottom but a more significant question has been largely ignored. Is the key to reverse mortgage industry’s long-term growth and recovery lie with traditional mortgage lenders? It’s a sincere question that begs examination considering there are tens of thousands of FHA-approved originators.
At the height of our market, it was commonly thought that traditional or forward mortgage originators lacked the proper mindset to work with senior homeowners not having the patience and expertise to effectively origination reverse mortgages. Today, ironically we are reliving a sequel of Trading Places with a twist. HECM lenders are branching out into originating traditional home mortgages while more traditional lenders incorporate reverse mortgages in their sales force. Download the video transcript