FOR IMMEDIATE RELEASE

9th Annual Reverse Mortgage Day
Texas Mortgage Bankers Association

As the last state to authorize reverse mortgages, Texas has already become the 3rd largest reverse mortgage lending state in the country.

DALLAS, TX, Jul 22, 2010 - /FLIERWIRE/-- On Tuesday, August 3rd, mortgage lenders, secondary market experts, and bank executives from all over the country will gather at the Dallas Westin Galleria to discuss the policies that will affect reverse mortgage lending in the future.

Hosted by the Texas Mortgage Bankers Association, this day-long event is designed to give attendees important information regarding reverse mortgages, including:

• Reverse Mortgage trends and public policy updates - both state and federal.
• Reverse mortgage counseling options for consumers.
• The demographics of an aging America.

"As more Texan's are forced to deal with expanding health care costs, reverse mortgages continue to take on a greater significance," said Scott Norman, President of the Texas Mortgage Bankers Association.

Since the first Texas reverse mortgage was offered ten years ago, the Lone Star State has already become the third largest reverse mortgage lending state in the country with over $3.3 billion funded to senior homeowners. In addition, according to research by Reverse Market Insight, Texas is showing the best potential, among all states, for unit volume growth over the next five years.

Currently, Texas has 1.4 million residential homes where the "head of household" is age 62 or over. Using statewide numbers, we estimate that approximately 210,000 senior homeowners currently living in Texas may be interested in a reverse mortgage between now and 2015.

"The overwhelming growth we're seeing in Texas reinforces our belief that reverse mortgages remain a safe, cost effective and important retirement option for senior homeowners as they evaluate their financial plans," added Norman.

More information about this event can be found at http://www.texasmba.org/reverse_mortgage/default.asp