Reverse mortgages might be “America’s most hated home loan,” according to a recent article in Bloomberg, but the news outlet also says they are staging a comeback thanks to the support of leading academics.
Bloomberg talks to Columbia Business School professor Chris Mayer, who is also the CEO of reverse mortgage lender Longbridge Financial. Mayer was an economist at the Federal Reserve of Boston and holds a Ph.D. from the Massachusetts Institute of Technology.
He has studied reverse mortgages for the last 15 years and is among those academics and finance experts who believe reverse mortgages deserve a second look now that new regulations have improved the product for consumers and taxpayers.
Bloomberg says Mayer and others, including with Alicia Munnell of the Center for Retirement Research at Boston College, are trying to “rehabilitate one of the U.S.’s most-reviled financial products” and the move is part of…