There is a wide range of estimates when it comes to the number of potential borrowers who go through HECM counseling but never actually close a reverse mortgage loan. The data can be skewed due to seasonal shifts in counseling as well as industry influences and changes.
Some industry estimates place the percentage of those who go through counseling without ever closing a loan at a range from 20-25% and up, but many lenders and originators have told RMD they believe the percentage is much lower.
In your experience, how many potential borrowers go through counseling but never end up closing the loan? Take our poll and tell us what you think.
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