Home equity can help provide a path to a more secure retirement in light of increasing senior home equity, and rising retirement instability according to a new column at The Street.
Category: Products
An alternative equity tapping company has made “taking on the reverse mortgage industry” central to its narrative as it seeks to show Canadian homeowners a different way to tap into their home equity, and says that its eyes are focused on expanding into the United States in the coming months now that it is armed […]
Reverse Mortgage Funding, LLC (RMF) has announced changes to its Equity Elite proprietary reverse mortgage product, specifically on the “Equity Elite Term Payment” option. Now, the Term option will have one set of rates for all terms between 2 and 10 years (or 24 and 120 months), and the required upfront draw will decrease from […]
Reverse mortgage technology platform ReverseVision today announced that it has restructured its technology service plans and pricing matrix in an effort to streamline the entry of lenders into the reverse mortgage business space, while further aligning its offerings with a broader mission of allowing more adequate service to senior customers who use FHA lending programs. […]
The reverse mortgage division of Mutual of Omaha Mortgage has announced the launch of a mobile application (or app) specifically designed to serve potential reverse mortgage borrowers seeking either a Home Equity Conversion Mortgage (HECM), or a HECM for Purchase (H4P) transaction. The app features tools for a potential borrower to begin getting a reverse […]
Reverse mortgage technology platform ReverseVision today announced the promotion of Joe Langner to the joint position of president and chief executive officer (CEO), elevating the executive who has served as the company’s president since early last year. His new duties in this expanded role are designed to lead ReverseVision in its mission to introduce reverse […]
The increase of the Home Equity Conversion Mortgage (HECM) lending limit to $822,375 in 2021 will prove to be a boon to opportunities available in the industry, allowing for originators to serve borrowers with higher value properties while also giving the reverse mortgage product category more prominence in the lending space. However, lending limits higher […]
As a growing number of older Americans may find it difficult to maintain their lifestyles through traditional fixed income streams, the idea of “partial retirement” — where a senior could maintain one or more part-time jobs — should be further embraced by the financial world. To support this, a senior’s strategic use of a reverse […]
Fairway Independent Mortgage Corporation and financial software developer MoneyTrax have teamed up for a new initiative designed to allow for easier communication between reverse mortgage loan originators, financial advisors and clients to more efficiently communicate how home equity can be incorporated into a retirement planning strategy. Through new software, called “EquityTrax,” Fairway and MoneyTrax have […]
In response to the abrupt shift away from the London Interbank Offered Rate (LIBOR) index and toward the Constant Maturity Treasury (CMT) index, reverse mortgage loan origination system (LOS) software provider ReverseVision has updated all documents that reference an index to support both LIBOR and CMT indices. While the shift to a new rate index […]
