George Morales on proprietary reverse mortgages and MISMO standards

As the reverse mortgage industry continues to expand beyond the traditional Home Equity Conversion Mortgage (HECM), experts say broader adoption of alternative home equity release products will depend in part on making them easier for lenders and brokers to offer.This is the message that George Morales — chief revenue officer of B.E. Home Finance and chair of the Mortgage Industry Standards Maintenance Organization (MISMO)’s Reverse Mortgage Development Workgroup — shared when he sat down with HousingWire‘s Reverse Mortgage Daily for the latest edition of the Monday Morning Q&A.Morales discussed the growing popularity of proprietary reverse mortgages, how lenders are approaching entry into the space, and efforts to standardize reverse mortgage data across origination, secondary market and servicing processes.Editor’s note: This conversation has been edited for length and clarity. Sarah Wolak: Perception of the reverse mortgage industry has changed over the past few years, and lenders are looking for ways to make the product more scalable and comfortable for customers. Can you talk about how these views are driving the evolution of the business? George Morales: I think it’s cont...