For many in the industry, 2015 will start with a bang. Reverse professionals across the country will likely hit the ground running after the New Year as they work to prepare for the March implementation of Financial Assessment.

FHA’s new underwriting guidelines will no doubt impact HECM operations, and professionals on all sides of the business will need to review the new guidelines and modify their processes accordingly. While it may be a tough adjustment at first, reverse veterans are no strangers to change and have proved to be resilient. This time, I’m certain, will be no different.

For many in the space, maybe the toughest part of Financial Assessment has simply been waiting for it. Now that the other shoe has finally dropped and we know what we’re up against, perhaps the industry as a whole can move forward and embrace the change. Yes, underwriting standards will be stricter and the process will be more cumbersome, but there are still thousands of seniors out there who could use our help. The method might have changed slightly, but there is still great work to be done.

In the meantime, I wish you all a calm and peaceful holiday season. Take some time to enjoy your loved ones and recharge your batteries before work picks up in 2015.