market potential
Turning the Ship
Every reverse mortgage professional has a small yet vital role to play in keeping the ship pointed toward market expansion despite a turbulent and uncertain market
It’s so much more than mortgage payment elimination
Last week a couple received a mailer touting the benefits of reverse mortgages and how one can stop making their existing mortgage payment. “No thanks”, they said as they tossed it in the kitchen trash. While this is a hypothetical scenario it exemplifies one possible reason that reverse mortgages may
The Sisyphus of Mortgages
The Uphill Battle for Market Acceptance Like the mythical phoenix, the Home Equity Conversion Mortgage industry rose from the ashes of the housing crash and economic crisis of 2008, followed by several reincarnations as the reverse mortgage program was tweaked, pruned, and curbed the pool of eligible borrowers. Yet,
Where Others Fail, The HECM Delivers
As other lending options fail, the HECM delivers solutions A banker lends you his umbrella when it is sunny and wants it back when it rains. So says the well known joke about the sad state of consumer lending. “After the recession, our clients called, telling us that their banks
The Cost of Change
With August HECM endorsements hitting a nine year low of 3,200 plus loans many are beginning to ponder the long term effects of HUD’s recent spate of changes to the federally-insured reverse mortgage program. August’s numbers show the lowest monthly volume of endorsements and three trailing months since June 2005
