1st Reverse Releases New HECM Product

1st Reverse Financial Services, LLC, a subsidiary of Family Federal Savings of Illinois, has released a new FHA-insured HECM program called the HECM Pathway. The HECM Pathway™ is designed to assist borrowers who need to bring funds to closing or those receiving less than $5,000.00 in proceeds from settlement. “In today’s marketplace there appears to be […]

How Grandchildren Can Impact a Reverse Mortgage

Inman News had an interesting article that mentioned some of the financial obstacles that are preventing seniors (subscription required) from acquiring reverse mortgages. According to Ralph Rosynek, President of 1st Reverse Financial Services, it’s delinquent student loans. Rosynek said, “the elderly often co-sign for student loans on behalf of their grandchildren”. Not only student loans […]

Reverse Mortgage Education at NAMB Events

The National Association of Mortgage Brokers (NAMB) recently selected the senior management team of 1st Reverse Financial Services, LLC, a subsidiary of Family Federal Savings of Illinois, to create and deliver an updated Reverse Mortgage Continuing Education Course for their members.  “Education is the foundation that we have built our company upon and we are […]

Reverse Mortgage Warehouse Line Follow Up

After my initial post on warehouse lines Ralph Rosynek, President of 1st Reverse Financial Services gave me some feedback on his thoughts about using a warehouse line to fund reverse mortgage production. Below is a summary of the conversation. Ralph, would you recommend brokers to utilize a warehouse line for their reverse mortgage production? The […]

Fixed 4 Life™ Reverse Mortgage

1st Reverse Financial Services has released the Fixed 4 Life™ reverse mortgage product which is the second fixed reverse mortgage product to be released this week. According to the press release, the Fixed4Life™ Fixed Rate Reverse Mortgage will be available to their network of Correspondent Lending Partners in a phased roll-out across the nation over […]