Reverse mortgage counseling remains steady, indicates data from Ibis Software Corporation, released in February. The data, which tracks monthly RMA counseling ... shows the number of people receiving counseling using Ibis's software, has leveled above 10,000 per month with an average of roughly 11,500 over the past six months.
In counseling, there's definitely an uptrend," says Ibis CEO Jerry Wagner. The industry can see the trend as a positive one as counseling has gained recent attention with new HUD requirements and use of the Financial Interview Tool (FIT), introduced last year. Nationwide, HUD lifted the counseling fee cap after counseling sessions became more in-depth with use of the FIT.
Reverse Mortgage Counseling is a necessary and required step Senior Homeowners must take when considering a reverse mortgage. Contact your local 1st Reverse Mortgage USA Account Executive with questions or to learn more about reverse mortgage counseling.
This only protects the senior and, in truth, is necessary if we're going to have excellent credibility in the Reverse Mortgage Industry!
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