Top reverse mortgage lender Reverse Mortgage Funding, LLC (RMF) has announced it has made a commitment to serve as a donor for food charity organization Meals on Wheels’ new “Momentum Circle,” designed to strengthen the Meals on Wheels network and provide financial support to help homebound seniors at-risk to food insecurity and isolation.
The Momentum Circle is different from the organization’s traditional donor program in that donors under its purview pledge an annual contribution, providing Meals on Wheels America with the infrastructure, innovative research, programming and critical resources necessary to support the Meals on Wheels network.
“RMF is built on a strong commitment to helping older Americans live the retirement lifestyle that they imagined and deserve, in the comfort of their own home,” said David Peskin, president of RMD in a statement to RMD. “Helping Americans age in place is core to who we are and what we do, and we believe this extends to the industry as a whole. As a leader in the space, RMF is dedicated to promoting integrity and responsibility, not just through our business transactions but through our community interactions and contributions. Working alongside an organization like Meals on Wheels America is a natural fit and an important investment for RMF.”
One of the key events that led RMF to become involved in the organization at this level was the COVID-19 pandemic, Peskin explained. As partially exemplified by interest in the reverse mortgage product category observed over that period among more visible health and economic factors, seniors are simply in need of more dedicated help, Peskin said.
“The COVID-19 pandemic revealed and magnified many of the unmet needs of vulnerable seniors,” he said. According to Meals on Wheels America, even before COVID-19, nearly 10 million seniors in America struggled with hunger, 8 million lived in isolation and more than 7 million had incomes below the poverty line. The effects of the pandemic continue, and local Meals on Wheels programs report there are still unmet needs in their communities.”
Because of its local focus, RMF is hopeful that its participation in donating at this level will help to bolster the resources available to seniors in local communities, Peskin explained.
“As an industry entirely focused on serving older Americans, and one that recognizes and respects the important role that older Americans play in our society, we should be actively striving to improve their quality of life,” he told RMD. “It’s our hope that RMF’s participation in the Meals on Wheels America Momentum Circle will inspire others in the industry to invest in programs and initiatives that benefit and uplift this important segment of our society.”