MBA Launches Senior Mortgage Solutions Network
The Mortgage Bankers Association is introducing a new Senior Mortgage Solutions Network (SMSN), expanding its broad range of industry segment networks for members. SMSN will serve as a forum to discuss emerging trends and business challenges related to reverse mortgage lending and other senior-focused mortgage products.
This new network meets a significant need–the population of older adults in the United States is growing at a strong rate. Per the U.S. Census Bureau, as of 2024, 18% of the U.S. population was over 65. The homeownership rate for households over 65 was 78.6% that year, and those over 65 own 34.1% of owner-occupied housing units, according to the Census Bureau’s American Community Survey.
According to Anthony Siller, AMP, MBA’s policy manager, strategic industry engagement, and primary MBA staff support to the SMSN: “Older borrowers are a vital segment of today’s housing market, and it is important for the mortgage industry to support innovative solutions that will help seniors achieve greater financial security. I am thrilled that MBA and its member companies will be at the forefront of addressing the shared business challenges facing the senior lending market, along with ways to strengthen the long-term security and sustainability of the programs designed to serve senior borrowers.”
Relevant products include, but are not limited to, Home Equity Conversion Mortgages, proprietary reverse mortgages and other home equity and senior-focused solutions. Each faces a distinct set of business challenges, and the group will focus on identifying the key policy, regulatory and operational issues shaping their businesses and the broader age-based mortgage market.
The SMSN will also help ensure that key issues impacting senior-focused mortgage lending are represented in MBA’s advocacy efforts, education, member engagement activities and other programming.
The inaugural co-chairs–who will serve a two-year term–are Longbridge Financial CEO Christopher Mayer, Ph.D., also professor emeritus at Columbia University, and Guild Mortgage Managing Director of Reverse Jim Cory.
“As the U.S. population ages, the financial challenges and opportunities facing older homeowners will become increasingly important to the housing finance marketplace. The Senior Mortgage Solutions Network provides a valuable forum for industry leaders to share expertise, discuss emerging trends and examine the data shaping this evolving market. I’m honored to serve as co-chair and look forward to working with MBA and industry colleagues to support responsible innovation and informed decision-making for older homeowners,” said Mayer.
The network will meet quarterly, largely virtually, with an in-person meeting at least once a year at an MBA conference. A kickoff call is scheduled for July 8 at 2-3 p.m. More information can be found here.
Cory added: “I encourage anyone active in or exploring the senior lending space to get involved. The challenges and opportunities in this segment are immense, and this network will play a key role in advancing solutions that make a real difference for borrowers and lenders alike. I’m grateful for the opportunity to co-chair this network and excited to work on this with the MBA and association membership.”
Any employee of an MBA residential member company or a select or premier level associate member company may join. For more information on how to join, or any questions about the SMSN, contact Anthony Siller at asiller@mba.org.
