At a key industry event, leaders from Liberty Reverse Mortgage and Guild Mortgage discussed the advocacy landscape for reverse mortgages, highlighting the challenges posed by economic uncertainty and interest rates. NRMLA President Steve Irwin noted that these factors affect potential borrowers' confidence. Mike Kent underlined that advocacy efforts are crucial for the industry's progress, particularly in educating lawmakers about the Home Equity Conversion Mortgage (HECM) program. The NRMLA's recent transition to independence has strengthened its advocacy messaging, proven by their meetings with various Congressional representatives on critical senior financial issues.
Mike Kent emphasized the critical nature of advocacy in the reverse mortgage industry, stating it's essential for progress amidst economic and interest rate challenges.
Steve Irwin highlighted the tough environment for the industry, citing economic uncertainty and interest rates impacting borrower confidence.
The shift to independence has enabled a more focused advocacy effort, allowing the NRMLA to communicate effectively with lawmakers regarding the industry's importance.
Meeting with key lawmakers such as Representatives and Senators, NRMLA aims to influence perceptions of reverse mortgages, especially concerning senior financial well-being.
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