The latest principal limit factors have turned the reverse mortgage world into a whirlwind of clutter. Now, industry leaders are trying to push stakeholders to look beyond Home Equity Conversion Mortgages.
"Reza Jahangiri, founder and CEO of industry giant American Advisors Group, said companies of all kinds — not just reverse mortgage lenders — can’t expand if they focus simply on adapting to every single regulatory change," according to Reverse Mortgage Daily.
"'It puts us in a short-term, reactive response mode, and it’s really hard to invest in those longer-term initiatives and strategies,' Jahangiri told an audience at the National Reverse Mortgage Lenders Association’s annual conference in San Francisco last week."
Industry leaders aren't trying to cut out HECMs completely, instead, they are asking to it isn't held to be the main focus for investors.
To find out what options investors and stakeholders have, as well as some suggestions from industry leaders, click on the image above.