![\"Reverse](\"https:\/\/www.send2press.com\/wire\/images\/reverse-vision-600x450.jpg\")
\nAccording to Chrisman, market conditions are ripe for traditional \u201cforward\u201d lenders to consider adding new products, including reverse mortgages, to their portfolios.<\/p>\n
SAN DIEGO, Calif., Jan. 5, 2017 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that mortgage industry expert Rob Chrisman will address attendees of RV UserCon 2017 as a special session speaker on February 9 in San Diego.<\/p>\n
\nAccording to Chrisman, market conditions are ripe for traditional \u201cforward\u201d lenders to consider adding new products, including reverse mortgages, to their portfolios.<\/p>\n
\u201cAt times like this, with rising interest rates beginning to squeeze volumes and profit margins, mortgage companies are turning their attention to product diversification,\u201d Chrisman said. \u201cAt the same time, 10,000 Americans turn 62 every day. Demographics like that are hard to ignore. Mortgage managers need to take a look at reverse mortages that serve this population alongside ARMs, jumbo loans, non-QM lending and other products they are considering adding to their mix.\u201d<\/p>\n
\u201cRob is one of the mortgage banking industry\u2019s most esteemed voices. We are thrilled to bring his perspective and decades of experience in forward lending to our conference attendees,\u201d said ReverseVision Vice President of Sales and Marketing Wendy Peel.<\/p>\n
Chrisman\u2019s session, part of ReverseVision\u2019s second annual user conference held February 8-10 at the San Diego Hilton Resort and Spa, will address common questions traditional lenders have about the reverse mortgage business, how new lenders entering the space could benefit reverse professionals and the potential affects these lenders may have on the industry in 2017.<\/p>\n
\u201cLenders\u2019 chief concerns are how the product helps their customers and how to profitably originate reverse mortgages in a compliant manner that doesn\u2019t subject them to public or regulatory scrutiny,\u201d said Chrisman. \u201cAs mortgage banker portfolio managers consider this product, they need to understand that traditional measures of forward lending don\u2019t really apply. With reverse mortgages, three or four loans a month can be a great month for a loan officer. It\u2019s all about the margins.\u201d<\/p>\n
What that means, according to Peel, is that it\u2019s relatively easy, from a technology and training perspective, for a traditional lender to improve its bottom line by creating a reverse marketing division with just a few loan officers specializing in the product.<\/p>\n
\u201cTraditional mortgage bankers have a rich database of potential HECM clients. By partnering with experienced reverse mortgage lenders, they can tap into that potential and easily jumpstart a revenue center,\u201d said Peel.<\/p>\n