RM HIVE 1/28/26

Here is the tool that you can share with FA’s to encourage them to see who in there DB may need a RM conversation.

Quick recap

The Reverse Mortgage HIVE meeting focused on discussing various lending products and strategies for working with financial advisors. The group explored the American Senior line of credit product, which offers flexible payment options and serves as a bridge between HELOCs and reverse mortgages. They discussed targeting ideal HECM candidates with specific criteria, including home values between $1-2 million and existing mortgage balances of $100,000-$200,000. The conversation also covered strategies for engaging with financial advisors, including demonstrating reverse mortgage concepts through role-playing and creating educational materials. The conversation ended with a discussion about developing tools to help advisors identify clients who may benefit from reverse mortgages, with John agreeing to share a filtering questionnaire from Tom Dixon for potential calculator development.

Next steps

• John: Post the "Reverse Mortgage decisions can break a financial plan" discussion and related content in the Reverse Mortgage HIVE after the meeting.

• John: Create a one-page flyer/handout based on the "Reverse Mortgage decisions can break a financial plan" content for use with advisors and post it in the Hive.

• John: Share Tom Dixon's tool (with quick filtering questions for advisors) and consider building a calculator based on it for the next meeting.

• John: Share the presentation used for the upcoming fiduciary lunch and learn with the group after the event.

• All participants: Review messages and participate in ongoing conversations in the web-based Hive platform, as reminded by John.

• Chris: Provide feedback to Lauren (and potentially assist) on running the Reverse Plus software/demo at her upcoming event.

• John: Pass along any suggestions for new reverse mortgage calculators to Todd.

• DanTheMortgageMan: Check and confirm details about the Longbridge HELOC for seniors draw period and share findings with the group.

Summary

Reverse Mortgage CLA Program Discussion

The Reverse Mortgage Hive meeting focused on discussing CLA concepts and their application to reverse mortgages. Brian shared that he has been reviewing his list of potential borrowers in light of recent rate drops and exploring the HomeSafe intro program, which he found could help some clients who previously did not qualify. John and Brian discussed the American Senior program, with John mentioning he had some thoughts to share on the topic. Dan inquired about American Senior, and John indicated he would elaborate on it later. The meeting emphasized collaboration and support among participants in understanding and implementing these programs.

Reverse Mortgage Product Comparisons

The group discussed reverse mortgage products, with DanTheMortgageMan sharing a comparison of Mutual of Omaha, Longbridge, and FAR's ARM products, noting that Mutual of Omaha allows 100% draw while FAR and Longbridge limit it to 90%. John suggested posting the comparison in the Reverse Mortgage HIVE. Brian shared a conversation with a financial planner whose client has an Equity Avail product from FAR that they can no longer afford, highlighting the importance of understanding client needs and risks. The group also touched on the value of advisor conversations and the need to address exit strategies in reverse mortgage discussions.

Senior Line of Credit Discussion

The team discussed the American Senior product, a high-tech lending option for senior line of credit that offers 1-5% interest rates and non-recourse terms, targeting clients who don't qualify for traditional HELOCs due to DTI. DanTheMortgageMan inquired about the payment structure, which Brian explained involves optional payments with a low minimum requirement. Lauren shared that she had been approached by several elderly women seeking equity access and property purchases through her new networking group, which led to a discussion about marketing strategies for senior-focused financial products.

Reverse Mortgage Network Expansion Strategies

John discussed strategies for expanding his network in the reverse mortgage sector, highlighting a client who has become an advocate for the product and is helping spread awareness among seniors. He also introduced a product called a NEGAM adjustable loan, which functions similarly to a reverse mortgage by allowing borrowers to make minimum payments that may not cover interest, with the option to pay more if desired. John explained the mechanics of this product, including its application for borrowers with irregular income, and suggested that it could serve as a bridge between HELOCs and reverse mortgages.

Reverse Mortgage Advisor Engagement Strategies

The group discussed strategies for engaging financial advisors and their clients about reverse mortgages. They explored targeting clients with specific criteria, including home equity between $100,000 and $200,000, and loan balances of 7+ years. John shared a framework for advisors to consider when discussing reverse mortgages with clients, including potential risks and how they fit into overall financial plans. The group also discussed creating educational materials for advisors and clients, as well as the importance of timing in introducing reverse mortgages. They agreed to continue developing tools and calculators to help advisors better serve their clients in this area.