HECM FOR PURCHASE BUILDS MOMENTUM New Rules Help Stakeholders Enhance Their Businesses By Joel Berg WHEN THE HECM for Purchase made its debut in 2009, Alison Calamia was among the skeptics. As a longtime reverse lender in the greater New Orleans area, Calamia wondered whether the product would appeal to people, particularly in Southern states, such as Louisiana, where older homeowners did not move very often. But after taking a job as an account executive for a national company, she worked with brokers in other states where the HECM for Purchase was making HECM for Purchase continued on page 18 Alison Calamia REVERSE MORTGAGE /MAY-JUNE 2024 17
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