Credit unions originate just 81 reverse mortgages nationwide over 12 months

Credit unions originated only 81 of the nearly 36,000 reverse mortgages closed across the United States over the past 12 months, HousingWire reported. Ron Kamler, the president and chief executive officer of Alliance Reverse Mortgage, highlighted the low adoption rate during an interview with HousingWire's Reverse Mortgage Daily. [1]

According to HousingWire, credit unions maintain a large member base that could potentially benefit from reverse mortgages, yet the product remains largely missing from their overall product portfolios. Kamler, who has worked with credit unions for 19 years, stated that persistent concerns regarding product complexity and reputational risk have contributed to the low transaction volumes. [1]

HousingWire reported that Kamler suggested a specialist partner model as a potential solution for institutions. He noted that utilizing outside reverse mortgage specialists can help credit unions serve their members without requiring them to build dedicated in-house origination teams. [1]