A major forward-mortgage consulting firm recently took a deep look into the potential diversification through reverse products, and ended up wondering what top players are waiting for.
Concerns about reputation risk, a lack of in-house expertise, and the “distracting” effect HECMs might have from the forward business topped the list of potential hangups. But, they compared those worries to people who still use cassettes to listen to music, encouraging lenders to “toss that old cassette tape deck.”
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