Speaker
Rob Kanyur
Session Details
SPONSORED SESSION: Winning in Retirement | How $12 Trillion is Being Utilized to Improve Retirement in America
Finance & Insurance
Date: Tuesday, August 27, 2024
Time: 1:55 pm
Session Learning Objectives:
- Leave conference with actual facts about Home Equity Conversion Mortgages and how/why they play an integral part with today’s Seniors who own a home
- Realize that the HECM is a loan of first resort now, rather than a loan of last resort
- Gain newfound knowledge and facts about this type of home financing for Seniors
According to the U.S. Census Bureau, roughly 12,000 people will turn 65 each day in 2024, which is about 4.4 million Americans. This is a record-breaking year for retirement in the U.S. and a majority of them are not financially prepared. This presentation will give a 30,000 foot view of the overall uses and history of the Home Equity Conversion Mortgage and how it is evolving into a sophisticated lending instrument. The presentation covers the history of the reverse mortgage from its inception in 1961 to the present. We cover the 4 main objectives to the home equity conversion mortgage (increased cash flow, portfolio longevity, tax advantages, and legacy building. Followed by the 4 common objections/myths to the loan (homeowner loses home, too expensive, kids get left holding the bag and FEAR). The presentation also includes recent studies and research done by top financial advisors & retirement planning professors from top retirement planning institutions who have concluded that a HECM should be taken out now as a loan of first resort vs. the old reverse mortgage/loan of last resort. The presentation will conclude with actual case studies and how this loan gives homeowners age 62 and older a higher quality of life, peace of mind, dignity and the ability to sleep at night.
Session sponsored by Fairway Independent Mortgage Corporation.
Fairway Independent Mortgage Corporation (NMLS #2289) is a nationwide, full-service mortgage lender with a wide array of innovative products aimed at making homeownership more accessible and affordable. Serving clients since 1996, Fairway was recognized as #1 in Mortgage Origination Customer Satisfaction in 2023 by J.D. Power.
As one of the leading volume lenders of Home Equity Conversion Mortgage (HECM) loans, Fairway Reverse, a division of Fairway Independent Mortgage Corporation, stands at the forefront of empowering the retirements of older-adult homebuyers and homeowners. Its commitment to excellence is reflected in its fast turnaround times and unwavering dedication to fostering enduring customer relationships.
Fairway considers it an honor to serve the senior population and works tirelessly to extend education and support to its trusted professional partners.
Fairway is a Federal Housing Administration (FHA)-approved lender and a proud National Reverse Mortgage Lenders Association (NRMLA) member. Headquartered in Madison, Wisconsin, Fairway continues to set the benchmark for excellence in the mortgage industry.
To learn more, kindly visit fairwayreverse.com/partners.