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Clear Guidance & Open Communication Needed

Truth be told most prospective reverse mortgage borrowers focus on the cash benefit, not the pricing. That soon may be changing and each of us as reverse mortgage professionals had best be prepared. Last week the Mortgage Professor, Jack Guttentag,  published a article on his blog entitled “Are HECM Reverse Mortgages Overpriced?”

As our industry struggles to shed our reputation as an expensive loan of last resort perhaps we should consider a few ways in which uninformed homeowners approach the loan and how we communicate when it comes to origination fees.

First of all origination fees are often a necessary…

 

Download a transcript of this episode here.

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