Key Insights from NRMLA’s Upcoming Regional Meeting
The National Reverse Mortgage Lenders Association (NRMLA) is gearing up for an informative one-day regional meeting, reflecting both current industry issues and future trajectories. NRMLA President Steve Irwin maintains that the gathering aims to provide actionable insights from distinguished guests, drawing a diverse group of participants from various sectors within the industry.
Event Overview: A Streamlined Format
“For a one-day regional meeting, we’re very pleased,” Irwin noted during an interview with HousingWire’s Reverse Mortgage Daily (RMD). The meeting is projected to welcome about 150 registrants representing around 75 companies nationwide. The condensed schedule not only keeps attendees engaged but also considers their time and financial commitments.
Irwin added, “We’re aware of the time commitment involved in traveling to these events, and we’ve found that attendees really appreciate shortening the time they need to be away.” This structure aims to reduce costs for participants while maintaining the momentum of the discussions.
Focus Areas: Policy and Industry Dynamics
As the gathering unfolds, major discussions are expected to revolve around the Home Equity Conversion Mortgage (HECM) program, established under the Federal Housing Administration (FHA). Irwin stated, “There’s a lot of question and concern from members about what’s happening at the federal level,” emphasizing the curiosity surrounding legislative priorities from HUD and Congress.
The NRMLA board plans to foster discussions that look ahead, exploring how the association can adapt more quickly to industry changes. Irwin expressed enthusiasm for engaging members in future-oriented conversations regarding their evolving needs and expectations.
Interactive Engagement: Loan Officers’ Perspectives
An interactive panel featuring loan officers will be a highlight of the event, where attendees can share experiences on business operations and client interactions. “It’s critically important that every one of our events includes loan officer perspectives,” Irwin underscored. This initiative aims to enhance skill development and share best practices within the industry.
Notable Speakers and New Product Insights
The event will also feature prominent speakers, including Dr. Richard Green, a noted economist from the University of Southern California. He will present a keynote on home equity extraction related to long-term care financing, a pressing topic as demographics shift.
Bill Gross, a real estate broker with eXp Realty, will address business strategies that resonate within the reverse mortgage sector. Irwin remarked that Gross’s insights will contribute significantly to the conversation, given his alignment with the industry’s goals.
Additionally, discussions on proprietary reverse mortgage products will feature representatives from Finance of America, Longbridge Financial, and Smartfi Home Loans. The focus on proprietary products is crucial, as they address gaps within FHA-insured offerings, such as condominium lending and financing for younger borrowers.
Looking Ahead
While the current event is set for October in Irvine, the potential for additional regional meetings remains open, contingent on member interest and strategic planning. “Members will be notified once plans are finalized,” Irwin assured.
As industry participants prepare for the NRMLA West event, the emphasis will remain not only on addressing immediate concerns but also on fostering long-term growth and adaptation within the reverse mortgage landscape.