Cory has initiated a detailed plan aimed at increasing awareness and distribution of reverse mortgages within related industries. This multi-year program seeks to address common misconceptions and promote reverse mortgages, particularly for home purchases. Industry leaders, including Ashley Smith, emphasized that normalizing these products is vital for growth. Mark Klein highlighted that enhancing competition could spur product development, while the general lack of understanding around reverse mortgages showcases the need for further education within both financial and senior communities.
There's hesitation around reverse mortgages because it seems outside the mainstream and that gives people discomfort, said Ashley Smith, emphasizing the need to normalize these products.
Cory and Kent devised a multiyear plan to raise awareness of reverse mortgages, focusing on driving awareness in relevant industries and associations.
Increasing distribution and competition is vital for growth, as noted by Mark Klein, who stressed the need for expanded education surrounding reverse mortgage misconceptions.
We truly believe in making home equity for retirement mainstream, which is crucial for the industry's growth, as highlighted by Ashley Smith.
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