Greetings! 

Wells exit from the Reverse Mortgage Industry is all over the news and may cause confusion -- particularly if one of your clients was thinking about a reverse mortgage.  Never fear!  This week's video shares the back story of why Wells fled the market and assures everyone of the viability of reverse mortgages and the value it can provide in the right situation.

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Wells Fargo ABANDONS Reverse Mortgages!

The truth is reverse mortgages are available through a wide range of other lenders and remain a viable option for Seniors wishing to stay in their homes and live a bit more comfortably.  Although not for everyone - a reverse mortgage can be perfect for others. 

The National Reverse Mortgage Lenders Association responded to Wells leaving industry by stating "Reverse mortgages & HECM loans are readily available to seniors as an important tool to help them stay in their homes and to fund their longevity. The decision by Wells Fargo that it will no longer originate new reverse mortgage loans does nothing to change this. HECM loans are insured by the Federal Housing Administration, and are replete with consumer safeguards. Additionally, the Federal Government insurance guarantees funds will always be available to borrowers, and limits their exposure to the market value of the home."