For the Reverse Mortgage industry, 2017 is expected to be a promising and profitable year.
According to Jason Oliva from Reverse Mortgage Daily, the reverse mortgage industry turned a critical corner in 2015. Home Equity Conversion Mortgage (HECM) program changes like the Financial Assessment and updates to the non-borrowing spouse policy ushered in a new era for the reverse mortgage product, capturing the attention of researchers, financial planners and generating positive press in the mainstream media.
Using a reverse mortgage is no longer just for the cash poor and house rich,” said Jamie Hopkins, an associate professor of taxation at The American College in Bryn Mawr, Pa. “Instead, reverse mortgages can be used strategically as one part of a retirement income plan designed to build a buffer against sequence of returns risk early in retirement, help defer Social Security benefits or reduce cash outflow from traditional mortgage payments.”
In an extra boost of confidence for the industry, the economic value of the HECM program grew $7.9 billion in Fiscal Year 2015—progress that was applauded by the Department of Housing and Urban Development
With this huge victory for the HECM program, along with the most recent program changes that took place last year, it appears that everything is finally falling into place for the Reverse Mortgage industry.
There was a great article written by personal finance and real estate columnist Ilyce Glink in CBS News Money Watch. The truth is that reverse mortgages can actually be a helpful financial planning tool for retirees, says the article, which highlights 10 important need-to-know facts that every consumer should consider when it comes to reverse mortgages.
The time is NOW to market Reverse Mortgage products and insure that consumer understand the benefits of the program. There are literally tens of thousands of quality prospects in the marketplace who could benefit from a Reverse Mortgage.
Zero in on the best Reverse Mortgage Mailing List prospects in your specific market by customizing the following selects:
- Geography (zip-code, county, state)
- Current home value
- Estimated current equity in home
- Mortgage Information
- Age of Homeowner (*most brokers use age 62+ for Reverse Mortgage mailings)
- Presence of Spouse in Household
- Estimated household income
- Telephone number
- Ethnic surname overlays
Scrubbed telephone #s are available for a small percentage of the file.
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Click here to read the MetLife’s Mature Market Study on Reverse Mortgages as well as national statistics provided by the NCOA American Housing Study. This is key information for Reverse Mortgage Marketers
Click here to read Ilyce Glink’s article in CBS News Money Watch.