Survey Reveals Reverse Mortgage Acceptance, Industry Enters New Era

ReverseFocusReverse Focus Weekly Podcast Episode #389

In this week’s Reverse Focus podcast, Shannon Hicks discusses research presented at the National Reverse Mortgage Lenders Association annual conference, which sheds light on some of the factors that influence seniors’ acceptance of reverse mortgages and what stands in the way of greater product utilization.

Also discussed, despite challenges associated with reverse mortgage acceptance, industry leaders are bullish for the “tailwinds” laying ahead now that many of the problematic policy changes have been corrected and the Home Equity Conversion Mortgage book of business for the Federal Housing Administration (FHA) is finally on “solid ground.”

In another podcast story, FHA recently updated its condominium approval guidelines, easing the certification requirements for condo projects to become eligible for FHA insurance. Effective immediately, the FHA guidance will streamline the agency’s condo recertification process while simultaneously expanding the eligibility of acceptable owner-occupied units to include second homes that are not investor owned.

Lastly discussed in the Reverse Focus podcast, this past week Reverse Mortgage Funding announced it will sponsor a national survey aimed at understanding the housing preferences of Baby Boomers and older Americans. The survey will be conducted in collaboration with the National Association of Home Builders.

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Talking Points:

  • Survey reveals factors impacting HECM acceptance
  • Industry enters new era of stability
  • FHA updates condo approval guidelines
  • RMF to sponsor survey of Baby Boomer housing needs

Listen now. Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.”  Editor’s Note: These posts are sponsored by Reverse Focus.

Written by Jason Oliva

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