Insight
Proprietary reverse mortgages are now allowed in approximately 30 states.
How two LOs helped champion proprietary reverse mortgage legislation in Tennessee
Summary
Tennessee will soon allow private-label reverse mortgages, offering senior homeowners more financial options. This change allows for greater flexibility and loan amounts compared to the federal HECM program. Hosts in areas like Nashville, Knoxville, Memphis and Chattanooga will benefit from the potential for higher loan amounts, addressing rising home prices.
Key takeaway