Going Forward In Reverse

If you’re asking, what’s the next big thing in the mortgage business, without a doubt, its reverse mortgages. After 16 years of steady growth, reverse mortgage origination is now headed off the charts. From January of 2000 through the end of December 2004, there were 83,400 reverse mortgages originated. Now, with over 43,000 reverse mortgages originated in 2005 and more than 76,000 originated in 2006, regardless of how you market or what products you’re selling, reverse mortgages are going to come across your desk. If you’re currently working in the mortgage business and looking for a new challenge, or considering entering the mortgage industry, one thing is pretty clear, you’re going to have more potential customers in the years ahead. Americans are living longer and the oldest baby boomers will soon be reaching 62 years of age, the minimum age required to take out a reverse mortgage.

The Market 

• There are approximately 15 million eligible Senior households in the U.S.
• Seniors own more than $2 trillion in untapped housing wealth
• Over half the net worth of seniors is currently illiquid in their homes and other real estate
• With baby boomers about to reach retirement age, that number will more than double in the next ten years
• The reverse mortgage market penetration is about 1% of the potential market. With the huge number of baby boomers becoming eligible each year, the untapped potential remains enormous

Getting Started 

Visit our "Carrer Opportunities" page to learn how to get started and see what positions are available.