Chris Mayer, CEO of Longbridge Financial, expressed optimism about reverse mortgages, citing an increased interest shown at the Mortgage Bankers Association (MBA). This interest symbolizes a shift towards integrating forward and reverse mortgage sectors effectively. Longbridge is enhancing its proprietary Platinum product suite and exploring new products tailored for seniors. Finance of America's James Mittleman echoed these sentiments, noting that stronger ties could lead to more inquiries about reverse mortgages. Fairway Independent Mortgage Corp. is also expanding its reverse mortgage channel and integrating it with forward businesses to capitalize on the market's potential.
If you're in the mortgage business, you should want to serve people who own a third of the houses in the country. MBA has wanted to do that.
We're actively working with partners to create new products for seniors that have a lot of similar characteristics to reverse mortgages.
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