opportunities for growth. The company is building, for example, on its three-year-old Reverse Made Easy program, which is designed to streamline the process for new brokers to incorporate reverse mortgages into their lending operations. Related initiatives launched this year include hiring new employees focused on partnerships in the areas of financial freedom, HECM for Purchase and aging in place, Mayer says. Longbridge training sessions and webinars focused on reverse mortgages, meanwhile, have seen robust attendance, he adds. “This tells us our partners are hungry for relevant content and fresh ideas. And equipped with this knowledge, they’re able to better diversify their business and further expand their reverse offerings,” Mayer says. PHH Mortgage Corp. also has been training more people to originate reverse loans, says Michael Kent, senior vice president of corporate development and industry relations. “In addition, we’ve added a couple hundred new customers into our reverse mortgage product line from the forward space this year.” “We provided a reverse mortgage certification course through the National Association of Mortgage Brokers, which has had strong interest,” Kent says. “Many mortgage brokers have existing relationships with financial planners, realtors and estate attorneys that they can tap for referrals.” The newly trained originators appear to be making progress, Kent says. They may start out making one or two reverse loans per month but ramp up to five or six. Because the originators come from the forward side, they also are expected to boost production of the HECM for Purchase, he adds. “It’s not the shortest route to get to where we want to go,” Kent says. “But it may be the most permanent route to get us to where we want to go.” It often takes just a few successful reverse loans to spur originators to keep making more, he adds. “They realize that they’re not only providing financing to the seniors, but they literally are also changing their lives.” Adapting: Part 1 continued on page 22 888.369.1573 | HTLWHOLESALE.COM HighTechLending, Inc. All Rights Reserved. NMLS #7147 (nmlsconsumeraccess.org). For more information on licensing please visit www.hightechlending.com/compliance-information Chris Mayer REVERSE MORTGAGE / NOVEMBER–DECEMBER 2023 21
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