ABA Endorses Reverse Mortgage Funding’s HECM Products

The American Bankers Association has endorsed Reverse Mortgage Funding LLC’s reverse mortgage program, including its home equity conversion mortgage products.

Endorsed through the ABA’s Corporation for American Banking subsidiary, RMF is the only reverse mortgage lender to gain backing by the Washington, D.C.-based organization — indicating a strong support of its lending solutions.

“Bankers want a quality turnkey reverse mortgage solution offered by a company with unparalleled expertise and a strong reputation for supporting the needs of our industry,” said Ken Burgess, chairman of ABA’s Endorsed Solutions Banker Advisory Council, in a statement. “This ABA endorsement showcases the strength of Reverse Mortgage Funding’s offerings.”

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RMF, launched in 2012 by several former MetLife executives and industry veterans, offers a number of reverse mortgage products, including the HECM MAX5, HECM Fixed Rate, HECM Adjustable and HECM for Purchase.

“Since our founding in 2012, our team has worked hard to forge an innovative, best-in-class product offering that caters to the diverse needs of borrowers seeking retirement financing solutions,” said Craig Corn, RMF CEO, in a statement. “We’re proud that these efforts have led to ABA’s endorsement of our HECM products for their member banks.”

ABA-endorsed solutions, such as RMF, are backed by a comprehensive due diligence process, as they are analyzed by industry experts, field-tested by bankers and meet stringent customer service standards, according to criteria provided on the ABA’s website.

“Our HECM products enable financial institutions to easily incorporate reverse mortgages into their offering. This ABA endorsement is testament to the high level of service and expertise our team offers throughout the entire process,” said Michael Mooney, national sales manager of the Financial Institutions Group of RMF.

Last year, RMF began ramping up its retail network, with plans to hire and recruit nearly 50 new agents by the end of the year. Recently, the New York- and New Jersey-based reverse mortgage lender began undergoing a westward expansion, opening a sales office in the Sacramento metropolitan area.

Written by Emily Study