Supreme Lending’s John Luddy says reverse mortgages are better positioned than ever

Longtime reverse mortgage professional John Luddy says that despite the noise around high interest rates and equity-locked borrowers, the reverse market is in its strongest position yet.In a conversation with HousingWire‘s Reverse Mortgage Daily, the senior vice president of reverse lending at Supreme Lending cited high home values, expanding product options and growing demand from older homeowners who want to age in place as indicators of a healthy market. But for loan officers to succeed in the reverse space, more knowledge development is needed.Editor’s note: This interview has been lightly edited for length and clarity. Sarah Wolak: You’ve had a long career in reverse mortgages, which makes you unique in the space. How long have you been working in reverse and how did you get started? John Luddy: I come from a background of funeral directing; my family owned a funeral home. I’ve been doing reverse mortgages exclusively for well over 25 years and have been in the business for over 40 years. I stopped doing forward loans after originating about 500 loans a year. My own mother took out a reverse mortgage before I was in the business and I saw firsthand how it helped her. There are...