Who Do Reverse Mortgage Loan Officers Represent?

A number of reverse loan officers have written to me regarding this blog and I thank them for their interest.

A number have said that my concerns regarding the lack of online calculators with full amortization statements are overblown. The solution, they say, is to contact a reverse mortgage loan professional.

This raises a question: Who do loan officers represent? Are they agents of the borrower, legally obligated to get the best price and terms for those who take out loans? Or, do they represent someone else? If someone else, who?

Inquiring reverse mortgage borrowers want to know.

This entry was posted on Tuesday, June 19th, 2007 at 7:14 am and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.