The State of the Jumbo Reverse Mortgage Market in 2016

Just as reverse mortgages are a sliver within the broader mortgage lending marketplace, proprietary jumbo reverse products are the niche-within-the-niche. Without an extensive track record of performance history for today’s newer jumbo products, the rollout has been conservative at best. To date, just two lenders currently offer jumbo reverse mortgages. In September 2014, Finance of […]

Jumbo Reverse Mortgages Appeal to Wealthy, New Celebrity Spokesman

Reverse Focus Weekly Podcast Episode #419 In this week’s Reverse Focus podcast, Shannon Hicks discusses how jumbo reverse mortgages are appealing to higher net worth homeowners whose homes are above the federal lending limit of $625,500 and who may want an alternative to retirement planning. Another topic of discussion was about property eligibility issues for […]

Why High Net Worth Retirees Are Using Jumbo Reverse Mortgages

In the past, reverse mortgages were usually used as a last resort option for retired homeowners who had exhausted most of their retirement funds, but with the implementation of proprietary products like jumbo reverse mortgages, these loans are now being used by higher net worth people as a means of retirement planning. Historically, individuals with homes […]

AAG Expands Jumbo Reverse Mortgage to California Wholesale Partners

American Advisors Group is now offering its proprietary jumbo reverse mortgage product, AAG Advantage, to its wholesale partners in California. AAG first launched the AAG Advantage product in select states last September, though only on a retail basis. Now with the wholesale expansion, California brokers and loan officers will be able to originate jumbo reverse […]

AAG Launches New Jumbo Reverse Mortgage Product

American Advisors Group (AAG) today announced the launch of a jumbo reverse mortgage product that will allow borrowers the opportunity to borrow up to $3 million in loan proceeds. Dubbed AAG Advantage, the new loan will enable qualified borrowers to obtain a reverse mortgage on properties valued at up to $6 million—far greater than the […]

Friday Round-Up: A Prime Market for Jumbo Reverse Mortgages

In case you missed it, here’s what happened in reverse mortgage news this week: NBC News: Widow’s Reverse Mortgage Tale Reveals Risks — Eighty-two-year-old Arlene Hill claims an “eager” broker provided false information about the terms of the reverse mortgage, and she is now fighting to keep her home in Simi Valley, Calif. since her husband passed […]

HuffPost: Why Reverse Mortgages Make Sense for Affluent Boomers

Long considered a loan of last resort, reverse mortgages now have their place in financial planning for even the mass affluent, a cohort of 10 million to 15 million baby boomers who have between $750,000 and $2 million of net worth at retirement, according to an article by The Huffington Post. These homeowners, who could have homes […]

Will The Jumbo Market Return for Reverse Mortgages?

There has been a lot of talk about new jumbo products coming to the reverse mortgage market, but little action to date. Despite the near absent market for these proprietary products, a huge need remains. While some products have fallen by the wayside, others have had their debuts long-heralded but with nothing to show for […]

Urban Sweetens HomeSafe Jumbo Reverse Mortgage With New Changes

Urban Financial of America has improved the loan-to-value (LTV) ratio on its proprietary jumbo reverse mortgage product, HomeSafe, and has expanded the loan’s availability to an additional state, the lender stated in a bulletin to its wholesale partners. The LTV improvement on the HomeSafe product applies across the board for all ages and will be available […]