In a recent discussion, Mayer, a tenured professor, highlighted the unique issues faced by older Americans considering retirement, while Ventura shared insights from Fairway's entry into the reverse mortgage market. He emphasized that education is crucial to overcoming misconceptions, as many potential clients do not recognize their need for a reverse mortgage. The conversation also touched on the need to educate financial advisers who play a key role in referrals. Despite the immense unrealized potential in this market segment, many eligible clients remain unaware of their options.
It's heavy on education and explaining what the product is, and how it can benefit clients that may not even think that they need a reverse mortgage, Ventura said.
The potential mitigation of sequence-of-returns risk is a key use case for a reverse mortgage, which requires a significant focus on education to inform potential customers.
Mayer described the reverse mortgage market as enormous but with a lot of unrealized potential, noting that last year over 1.1 million people 62 and older applied for a mortgage.
Ventura emphasized that many people don't believe they need a reverse mortgage, highlighting the importance of educating financial advisers as they are key referral sources.
Collection
[
|
...
]