As proprietary reverse mortgage products have emerged as an increasingly dominant player in the broader reverse mortgage industry, determining what common attributes are shared by a group of borrowers who decide to go the proprietary route becomes essential so that lenders can best tailor their proprietary offerings to meet the needs of their clients. The […]
Southfield, Michigan-based 1st Nations Reverse Mortgage announced this week that the company has hired industry veteran Ken Krajewski as head of reverse mortgage lending. The company, which offers reverse mortgages through both wholesale and retail channels is a division of Midwest Loan Solutions. “The addition of passionate and highly qualified reverse mortgage specialists to their […]
Reverse mortgage endorsement volume for April as reported by the Department of Housing and Urban Development earlier this week indicated a month-over-month decline of roughly 45% — to just over 1,600 loans. But the numbers aren’t reflective of what’s happening in the market, several industry sources have shared with RMD, particularly at a time when […]
During a time when some lenders have scaled back their participation in the proprietary reverse mortgage landscape due to market volatility, one lender announced this week it is expanding its offerings. San Diego-based Plaza Home Mortgage, predominantly a wholesaler lender is expanding its Reverse Jumbo mortgage program to 11 states and will now be offering […]
While some lenders active in the proprietary reverse mortgage market have recently pared down on their jumbo loan offerings, Nationwide Equities has rolled out an expansion of its EquityPower program, now with a loan limit of $6 million. Previously, the EquityPower was available for loan amounts up to $4 million, following the product’s launch in […]
While reverse mortgages have long been a viable option for many homeowners ages 62 and older, the current economic climate stemming from the COVID-19 coronavirus pandemic is leading more consumers and financial professionals to examine home equity conversion to help bridge the gap. American Advisors Group (AAG) is at the forefront of connecting with financial […]
During a time riddled with uncertainty and bad news stemming from the COVID-19 pandemic, several reverse mortgage players recently experienced a bright spot in the midst of the crisis — a collaboration that led to a lost reverse mortgage loan in progress getting back on track. On April 27, reverse mortgage technology company ReverseVision received […]
Reverse mortgage servicing has seen a lot of guidance coming down from the federal government recently due to the ongoing effects of the COVID-19 coronavirus pandemic. Because of this, servicing professionals answered a series of questions related to concerns that loan originators might have about servicing during the current national emergency, answering them in a […]
An increase in reverse mortgage draw activity by borrowers in March is illustrative of the reliability of drawing on home equity in times of crisis, while also carrying implications for how reverse mortgage products may be perceived on the other side of the COVID-19 coronavirus pandemic. This is according to two financial professionals, based on […]
Finance of America Reverse (FAR) announced Thursday that it is entering into a new, exclusive partnership with widespread mortgage marketing platform Total Expert to provide third-party originators access to a dedicated platform aimed at improving originators’ reverse mortgage marketing expertise. The company is also launching Xcelerate, a new online portal of educational resources and sales […]
