Gordon emphasizes the importance of training HUD-approved housing counselors to assist HECM borrowers in light of declining interest rates, to better address borrower needs.
The shift in mortgage rates suggests an increase in HECM refinancing opportunities, prompting both reverse mortgage and forward market originators to actively seek these prospects.
Considerations for HECM-to-HECM refinancing go beyond interest rates; factors such as occupancy length must also be evaluated for informed borrower decisions.
The dramatic refi volume seen during the low-rate pandemic period could shift again as market conditions change, underlining the need for careful counseling.
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