As a wave of mergers and acquisitions (M&A) continues to impact the broader mortgage space, today’s deal activity in the reverse mortgage sector is less about splashy headlines and more about structural pressure building across the industry, according to Michael K. McCully, a partner at New View Advisors.

As McCully puts it, “there are two things that typically drive M&A.” One is accretion and the other is “lack of risk tolerance or too much exposure to the industry.” In his view, reverse mortgages check both boxes — efficiency is rewarded and balance-sheet exposure is increasingly scrutinized.

One key driver details ⇒

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