Servicers Show Interest in Reverses

The chairman of the Western States Loan Servicing Conference says mortgage lenders and servicers expect to see growth in the market for reverse mortgage loans.In an interview with MortgageWire, Scott Lehrer, chairman of the California Mortgage Bankers Association servicing conference in Las Vegas, said senior citizens with untapped equity in their homes represent a significant growth opportunity. The mortgage industry's understanding of how to underwrite and administer the loans is increasing as well, said Mr. Lehrer, who is senior vice president at First Mortgage Corp., Diamond Bar, Calif. "I think reverse mortgages are going to become easier and easier to service," he said.