mortgages can be lucrative for originators – but you have to know what you’re doing. Recent regulatory moves have changed the face of the industry. So how do you keep up with the changes?
Open Mortgage founder and CEO Scott Gordon decided to make it easy. His new book, The New Reverse Mortgage – 2015 Edition
, discusses the new regulatory changes, as well as everything else originators need to know about reverse mortgages
“Reverse mortgage laws changed significantly in 2014,” Gordon said. “Seniors and their baby boomer children cannot rely on older books and articles. Seniors themselves need to understand this financial tool. In addition, senior’s baby boomer children, estate planners, and others involved in the lives of the senior need to understand the tool as well.
“Many myths and misconception surround the reverse mortgage
space,” Gordon added. “Reverse mortgages were once considered to be a tool of last resort, however now savvy seniors understand that if they have enough equity in their home, a reverse mortgage financial tool may help them plan for their retirement, live a better quality of life, or pay medical expenses, and assist in quality health care in their home. These days, there are a number of advanced strategies (using the reverse mortgage) by seniors with income and other assets in order to extend the life of their retirement funds. Don’t miss my chapter on advanced strategies in the book.”
The book is available at for $19.95. It’s also available for download in PDF, Kindle and iPad editions for $9.95. GOrdon is also the author of Social Media for Loan Officers