Mortgage Lending in Reverse

As you’ll learn, 5,500 baby boomers celebrate their 62nd birthday every day of the year. For many, their home is their single biggest asset and, through a reverse mortgage loan, can become part of their financial plan. While reverse mortgage volume pales today in comparison to the demand for forward mortgages, the need is increasing at a rapid rate. Credit unions must decide what role they will play. Our industry has an
opportunity to retain and to serve senior members in much the same way we have an opportunity to attract first-time homebuyers with forward mortgages. Our membership is aging along with the population, and as you’ll also learn, they tend to seek financial services elsewhere after the age of 54.

Are the prospects for reverse mortgage lending as enticing as they are for forward mortgages? If credit unions desire to serve members throughout their lives, this is an important product for your credit union’s financial services menu.

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