In the annual sales and marketing issue of Reverse Mortgage magazine, NRMLA emphasizes growth opportunities in the HECM for Purchase product as it gains widespread attention among lenders as they get the product in front of real estate agents, builders and developers.
“When I look at the opportunities for HECM for Purchase, I believe we’re at one of the most promising moments since the product’s inception in 2009,” says Rob Cooper of Longbridge Financial.
During a separate roundtable discussion with four of the industry’s top marketing executives, Tom Evans of Fairway Independent Mortgage adds, “It’s time to revise traditional messaging around keeping people in their homes. In actuality, staying at home has its downsides—lack of support systems, declining neighborhoods—while a HECM for Purchase presents the chance for seniors to experience comfort and security in more suitable homes. People are changing the way they approach everything, and we need to be part of that journey. We can put people in houses and better houses than they might have thought they could go into.”
The issue also examines the critically important efforts involving NRMLA and the Mortgage Industry Standards Maintenance Organization (MISMO) to standardize the technology and language underlying loan operating systems (LOS) so companies and industry partners can better communicate.