If the "loan origination fees" are a percentage of the loan amount, they are "points."
In general, points to refinance an existing mortgage, or paid on loans secured by your second home are deducted ratably over the term of the loan.
The question, of course, is what is the term of the loan. Life expectancy? Why not? But I doubt few people old enough for a reverse mortgage, so without annual interest deductions, would be itemizing. Unless they have high medical expenses, which usually means a move to a nursing home, so the place is sold.
