Magazine article Mortgage Banking

Hitting Home

Magazine article Mortgage Banking

Hitting Home

Article excerpt

Some niches in the mortgage lending business are absolutely booming today. For example, lenders targeting the reverse-mortgage business are seeing really strong growth. With boomers aging in droves over the next decade, this segment has nowhere to go but up. Other really strong microsegments of the mortgage business include veterans, the affluent, Hispanics, immigrants and public employees. Lenders that are narrowly targeting their marketing, product development and sales staff to tap these unique markets are doing well. The mortgage market is no longer a one-size-fits-all market, and the sooner origination shops tailor their approach to its many individual contours, the more successful they will be.

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One unique example of this is a business we profile this month in a story titled "To the Rescue" by Louise Schiavone. The company is called Firemen's Mortgage, Gaithersburg, Maryland, and the article tells how a veteran firefighter has built a mortgage business serving the mortgage needs of other firefighters.

The reverse-mortgage business, has lots of lenders now awakened to its promise. …

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