Jerry Wagner has been described as "the sharpest analytical mind we've seen in this market" by Ken Scholen of the AARP. Ken pioneered the idea of the HUD HECM program back in 1987, started the counseling network, drafted the TALC disclosure, etc.

Ibis provides unparalleled reverse mortgage consulting services and has sophisticated simulation models that can be used to design and stress test loans. We got our start analyzing reverse mortgage pools 16 years ago.

• Are you curious about HECM payoff rates? The 2007 HUD white paper did not adjust payoffs for the effect of refis. Refis are a small portion of new HECM's, but a material portion of payoffs. The refi pace won't last forever.
• Are you curious about line-of-credit usage? One portion of borrowers use up the whole line pretty quickly. A material portion never takes any draws. Models generally don't account for this -- pricing could be better.
• Do you want to cull your client lists for refi candidates? The coming $417,000 national lending limit is going to create a burst of refi's. Ibis has software that can do this -- plus County lending limits going back many years.

Ibis has a half hour overview presentation of its models and research findings. Call for a demo.