Despite some prospective borrowers resisting the initial mention of a reverse mortgage and seeking instead to get a new forward loan, being able to position the reverse relative to the forward can be a valid selling point for originators. For those seniors who have an aversion to a reverse mortgage, employing a new forward mortgage […]
The reverse mortgage industry continues to face headwinds in terms of widespread acceptance among financial planning professionals, but the growing prevalence of proprietary products and a growing base of both affluent and middle-income borrowers will go a long way in signaling how viable the products can be as tools for financial planning. “Most of the […]
A reverse mortgage can be a viable financial product for seniors looking to protect their retirement assets from a volatile influencer like the stock market, while also reducing the risk of a retiree exhausting all of their financial resources in retirement. This is according to an article on funding longevity recently published in Kiplinger. “Reverse […]
Not many people in the reverse mortgage industry today can say that they’ve been in the business for a quarter-century without a name change. One company that can lay claim to this is Novato, Calif.-based Bay Docs, LLC and its founder, president and CEO Megen Lawler. That’s not to say that the entirety of the […]
On the heels of a flurry of new proprietary products and product features from the nation’s top reverse mortgage lenders, Liberty Home Equity Solutions last week announced the launch of its EquityIQ to compete in the space. Proprietary products are currently seen among reverse mortgage industry players as a path to the business’s future prosperity, […]
Finance of America Reverse (FAR), the second largest reverse mortgage lender by volume, announced Tuesday the availability of its proprietary reverse mortgage product “HomeSafe Standard” in the state of New York. This marks the very first proprietary reverse mortgage product available in the state, the only one of its kind to be approved in New […]
The reverse mortgage proprietary market continues to heat up, with Liberty Home Equity Solutions announcing the official launch of a new proprietary offering on Thursday. Aimed at seniors with higher home values, the new product allows access to funds well above the current Home Equity Conversion Mortgage (HECM) program loan limit of $726,525. Called “EquityIQ,” […]
The increasing prevalence of proprietary reverse mortgages continues to evolve and expand, providing necessary service in under-served parts of the existing government-insured reverse mortgage program. The levels of proprietary origination should justify the consideration of folding them into more lenders’ product suites, despite lenders remaining mum on the number private of loans they are making. […]
Active adult communities resource 55places.com has announced a joint venture with Retirement Funding Solutions (RFS) aimed to educate more seniors on methods they can use to become homeowners, including information on how to use a Home Equity Conversion Mortgage (HECM) for Purchase (H4P) transaction. These two organizations are partnering to offer an H4P product they’re […]
Reverse Mortgage Funding announced Monday that it is rolling out updates to its Equity Elite proprietary reverse mortgage, now to include both lump sum and term disbursement options for borrowers under a fixed rate. The product expansion, which allows borrowers to choose any number of term payments from 24 to 120 months, follows a series […]
