Still, those who wish to offer reverse mortgages are optimistic. Scott Norman of Austin, president of the Texas Association of Reverse Mortgage Lenders, says he hopes all the regulations will be in place by March 1, and lenders can start offering reverse mortgages. However, even when they are approved, it's still not going to be easy to find a reverse mortgage. It is, after all, a new product. Don't expect every bank to immediately start offering them.
Bankers tend to be conservative people.
They cautiously approach new things. If they weren't like that, they would be running dot-com Internet companies instead of banks. Still, reverse mortgages are coming. If you want one, you're just going to have to be patient a little longer.