Reverse Focus Weekly Podcast Episode #251
In this week’s Reverse Focus podcast, Shannon Hicks discusses several barriers to growth within the reverse mortgage industry, including the elimination of the fixed-rate Standard and the future implementation of financial assessment and mandatory escrow set asides.
While home price recovery is one place to look for the recovery of the reverse mortgage market or stabilization, notes Hicks, upcoming product challenges and legislative changes could impact that.
Also discussed, the Progressive Policy Institute (PPI) suggested a think tank for the Federal Housing Administration (FHA) in the short term, as the agency “finds itself confronting its most severe economic delinquency and default rates in its history.”
Given the current low-interest rate environment, the time for a reverse mortgage might be sooner rather than later, especially if you do not need the money, according to the Mortgage Professor Jack Guttentag.
Lastly, Hicks touches on the announcement from the National Reverse Mortgage Lenders Association (NRMLA) about its western annual conference scheduled for May.
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Talking Points:
- Is this the key to the industry’s recovery?
- Think tank suggested for FHA’s financial woes
- Professor says the time is now for a reverse mortgage
- NRMLA announces west coast conference
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Editor’s Note: These posts are sponsored by Reverse Focus.
