HOMEQ is leading the charge. It’s a compelling company because it essentially holds a monopoly in a rapidly growing business. HOMEQ’s CHIP brand has a huge head start on would-be competitors, in terms of funding, distribution and name recognition. The company’s stock (Ticker: HEQ) is something worth watching.
Sidebar: There’s a correction needed to the Post story. It misquoted the following: “There is no application process [for reverse mortgages].”
There is, in fact, an application process, but it’s easier to be approved than a regular mortgage because reverse mortgages generally require no income confirmation.