Are Proprietary Products The Future Of The Reverse Mortgage Industry?
The reverse mortgage industry has gone through a number of changes over the last couple of years. Companies have had to adjust the way they present their products and a new wave of proprietary products have made their way to the market.
In fact, proprietary products may hold the biggest industry opportunity, according to Reverse Mortgage Funding president David Peskin. He recently sat down with Reverse Mortgage Daily's RMD Podcast to chat about where he sees the reverse mortgage industry heading.
"With the changes that came on 10/2 , they forced the industry to rethink what its direction should be. And now, movement into proprietary products is actually the biggest break, the biggest opportunity [I’ve seen] since I’ve been in the industry," said Peskin when asked what he believed the biggest forward strides have been within the industry.
"I think that you’re going to see a lot of interesting products coming out, I think it’s going to become a very liquid market, and I think it’s going to bring a lot more security to the market, meaning we have to be less reliant on the government and the changes that they want to make relatively quickly. I think it just brings a safer environment for everybody."
Peskin also gave some insight regarding FHA changes and how these changes affect operations, outlook and strategy at RMF.
To learn more about this interview and the future of proprietary products, click on the image above.