Database Mining: Identifying 55+ signals in your past-client book
Most loan officers obsess over first-time buyers and miss a fast-growing opportunity hiding in plain sight: serving “active adult” homeowners (55+) with reverse mortgage solutions—especially reverse for purchase.
In this conversation, Brian sits down with Jesse Allen, President of Reverse Mortgage Lending at Rate, to demystify the product, the use cases, and the referral playbook for real estate partners. They unpack how a reverse purchase can let a rightsizing homeowner buy a $700k home with ~60% down and no monthly principal & interest payment (taxes/insurance still required), easing DTI friction while preserving retirement assets. You’ll hear where this fits, how to explain it without jargon, and why it drives outsized referrals when adult children, financial advisors, and CPAs are part of the decision.
Jesse sizes the market (≈70M U.S. homeowners age 55+ with $14T+ in tappable equity) and shares field examples from LO/realtor teams who converted “stuck” sellers into buyers—often unlocking two transactions and freeing inventory. We cover underwriting differences (no traditional P&I requirement; ability/willingness to pay T&I still matters), aging-in-place vs. move-near-grandkids scenarios, and safety/quality-of-life factors (single-level living; fall-reduction home design).
Where this episode especially matters: Florida (Tampa–St. Pete, Orlando, Jacksonville, Miami), Arizona (Phoenix, Tucson), Texas (DFW, Austin, San Antonio, Houston), the Carolinas (Charlotte, Raleigh, Greenville), Nevada (Las Vegas), California (Inland Empire, San Diego, Sacramento), Colorado (Denver), and Midwestern hubs with aging suburbs (Detroit metro, Chicago collar counties, Minneapolis–St. Paul, Columbus, St. Louis, Kansas City).
Practical takeaways: how to mine your past-client database for 55+ signals, position optionality with realtors, and show up at the point of thought with a confident, consumer-first explanation of reverse purchase.
Keywords: reverse mortgage purchase, HECM for Purchase, 55+ lending, rightsizing, DTI relief, aging in place, realtor strategy, equity utilization.
Jesse Q. Allen
Jesse Allen is President of 55+ Lending at Rate, where he leads efforts to expand solutions that that meet the unique needs of the demographic.
A transformational leader with extensive experience in financial services and community service, Jesse has built and led teams that deliver results and create lasting value for clients and stakeholders.
Before joining Rate, he launched and served as President of Reverse Mortgage Lending with an independent mortgage bank, and as EVP of external production at American Advisors Group. During his time with Bank of America, he oversaw the implementation of the landmark Dodd-Frank mortgage origination rules and served as the Head of Bank of America's reverse mortgage business, which grew from startup to becoming one of the largest platforms in the history of the industry.
Jesse is a first generation college graduate with a BBA from Pace University, summa cum laude, and an MBA from UCLA’s Anderson School of Management. He has previously held Series 7, 63, and General Securities Principal's licenses (Series 24), as well as insurance licenses in both California and New York.
