HousingWire Daily Chris Mayer on serving older buyers with innovative products beyond reverse
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Oct 14, 2025 In this engaging discussion, Chris Mayer, CEO of Longbridge Financial and a professor at Columbia Business School, sheds light on the overlooked demographic of older homeowners. He reveals that more than a third of U.S. homes are owned by people aged 65+, yet many are declined for mortgages despite qualifying. Mayer introduces innovative products like HELOC for Seniors, tailored to meet retirees' needs. He emphasizes the importance of treating older buyers as a unique customer segment and encourages realtors to better serve this growing market.
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Older Homeowners Make Up A Large Growing Market
- Over a third of U.S. homes are owned by people 65+ and that share is growing.
- HMDA data showed 1.3M mortgage applications from 62+ last year, with 400K denials many eligible for other products.
Rejected Borrowers Could Qualify For Other Solutions
- Many older applicants get rejected even though alternative products could serve them.
- Mayer found about 198,000 declined applicants would have qualified for a HECM-style product.
Housing Costs Strain Retiree Budgets
- Many older homeowners spend disproportionate income on housing costs, often 30–50%+.
- This financial strain makes tapping home equity a practical retirement tool.