www.BlackFin-Group.com

Wendy Peel

Blackfin industry experts offer comprehensive insight into an important industry sector.

DENVER, CO, USA, May 16, 2022 /EINPresswire.com/ — BlackFin Group, a management advisory firm serving the banking and mortgage industries, has released a new reverse mortgage activity report authored by industry experts Wendy Peel and Rachel L. Smith. The document, titled “Serving Clients for Life with HECMs,” explains why every lender should have these loans on their product menu and explains how this can now be easily accomplished.

“The reverse mortgage demographic is 10 trillion strong and America has a serious problem with retirement, health care and the burden placed on Gen X who emotionally and often financially care for baby boomers. and millennials,” said Peel, partner and managing director of Align BlackFin Group’s reverse lending practice. “A reverse mortgage is a mechanism by which borrowers gain access to the same equity they have paid into their home through their mortgage payments for years – often decades – so they can age in place.”

The Home Equity Conversion Mortgage, or HECM, is the federally insured reverse mortgage product. It is provided by the Federal Housing Administration (FHA), a branch of the US Department of Housing and Urban Development (HUD). HECMs account for nearly all reverse mortgages made in the United States today

In their report, the authors explain the loan program and its history, compare it to other loan programs tailored to this demographic, bust some outdated myths, fully define the desirability and now the ease with which these programs can be leveraged by lenders to deliver solutions that meet the current demands of the borrowers they serve.

Smith is a Principal Consultant at BlackFin Group and an active lawyer specializing in reverse mortgage compliance advice. For the past ten years, she has served as Compliance Analyst and Internal Counsel at ReverseVision, then as Senior Internal Counsel and Principal Product Manager at QuantumReverse.

Peel leads BlackFin’s new Align Reverse group, which helps lenders launch successful reverse mortgage departments. BlackFin’s client engagements range from data analysis to general advice to heavy lifting required to implement an institution’s business strategy or technology initiative. Virtually all work done by the consultancy begins with a thoughtful assessment of the current state and future goals of the institution.

In their new paper, Peel and Smith present a thoughtful exploration of a complex topic and, in doing so, provide lenders with unbiased data to make a decision about engaging support from BlackFin’s Align Reverse Group. For more information or to purchase a copy of the report, visit www.blackfin-group.com.

About the BlackFin Group
BlackFin Group is a management consulting firm specializing in innovation, technology and business optimization in the banking and mortgage industry. We are skilled in the successful execution of your business critical initiatives by providing best in class resources that ensure project success. For more information, contact the company at (303) 524-1907, [email protected], or visit its website https://www.blackfin-group.com.

Rick Grant
RGA Public Relations
+1 570-497-1026
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn