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Reverse Mortgage Growth

Reverse-MortgageThe National Post did a piece on reverse mortgages today. It’s been said before but it deserves repeating. The reverse mortgage market has immense growth potential. (Related story: Reverse Mortgage Statistics)

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.

Rob McLister, CMT