When presented with the opportunity to take over The Reverse Review, the discussion took only five minutes. It was one of those no-brainer decisions. It was a privilege for me to get involved with the magazine, knowing that we could help further awareness in connection with a long-misunderstood but very important product.
The passion I have witnessed in this industry has been unlike anything I have encountered. There is good reason for this. When people are exposed to the reverse mortgage and get to witness, firsthand, the impact it has on our nation’s seniors, they exhibit a zeal and pride that fall more in the category of a movement than a business. That’s a rarity in any industry.
This passion has been the fuel for the evolution and development of the HECM. The timing could not be more important to continue on this path as we enter into another year of a challenging economic climate, with few options for retirees to help counter depleting assets and cash-flow stresses.
As we begin 2012, I believe we need to continue to embrace and accept the high rate of change that comes with the reverse mortgage territory. After all, change is the one constant that never lets us down in our business! Although we have witnessed consolidation and declining volume in recent years, we have continued to stay innovative and committed to our movement. This has resulted in an impressively mature securitization market, the development of the lower-cost HECM Saver and new efforts to further refine the HECM and address the T&I issues. We must continue to stay introspective, creative and passionate.
I am very proud to be a part of this movement with all of you... very few can say they are working in an industry that is helping solve a public policy issue within the private sector.
Reza Jahangiri Senior Publisher