Private Reverse Mortgages: What Products Borrowers Are Using Most

Due in no small part to 2017’s reductions in principal limit factors (PLFs) as well as the institution of a collateral risk assessment sometimes requiring a second property appraisal, the reverse mortgage industry has been very active in seeking to find potential alternatives to the government-sponsored Home Equity Conversion Mortgage (HECM) program. One of the […]

New York Times: How to Extract Equity Out of a Co-op

Seniors do have the ability to extract home equity out of a co-op, though there could be limits on the manner in which they may go about it, as well as the amount of equity that can be extracted. This is according to a column at the New York Times, featuring the perspective of a […]

Private Reverse Mortgage Inquiries Steady as Lenders Eye Product Expansions

Borrower inquiries related to proprietary reverse mortgage offerings appear to be steady in the early days of 2020 compared with their figures in late 2019, according to reverse mortgage counseling professionals. While steady for the moment, lenders and industry observers have noted increased levels of business activity that can be at least partially attributed to […]

[Updated] FAR Brings HomeSafe to New States, Rolls Out Product Changes

Finance of America Reverse (FAR) announced on Thursday a slew of occurrences related to its “HomeSafe” proprietary reverse mortgage product catalog, including new availability of HomeSafe Select in Hawaii and Texas, two additional options in the state of Colorado, and refinements to one product variation in the state of Florida. The expansion of the general […]

3 Reverse Mortgage Factors to Fuel Market Growth

A continued favorable rate environment and increasing momentum on the proprietary side has started the reverse mortgage industry’s 2020 off on a decidedly positive note. If those elements can manage to continue through the year, then the industry will be in a very good position. This is according to perspectives shared by John Lunde, president […]

ReverseVision Streamlines Open Mortgage Originations in New Partnership

Reverse mortgage technology platform ReverseVision announced last week a new partnership with cloud-based sales and management platform OptifiNow, which will use ReverseVision’s Loan Import application programming interface (API) to streamline the loan origination process for Texas-based Open Mortgage, a mutual client. The integration of ReverseVision’s API links OptifiNow’s cloud-based software as a service (SaaS) sales […]

Baseline Reverse Adds New Vice President

Reverse mortgage pricing and analytics company Baseline Reverse has announced the hiring of Kathryn Ferriman as its new vice president, with her focus centering on providing reverse mortgage valuation services, while bringing mortgage servicing right (MSR) valuation knowledge and experience. Her addition is a part of Baseline’s growth strategy, according to a press release announcing […]

Some Feel Reverse Mortgages Offer ‘Too Many Options,’ Industry Disagrees

Late last year, the House Financial Services Subcommittee on Housing, Community Development, and Insurance convened a hearing to discuss merits and possible areas of improvement in the federal Home Equity Conversion Mortgage (HECM) program. Featuring a panel of witnesses that included academic and government researchers along with the then-president of the National Reverse Mortgage Lenders […]

Industry Leaders Push for New, Streamlined Reverse Mortgage Products

Innovation in the reverse mortgage product space in both proprietary and Home Equity Conversion Mortgage (HECM) categories always stays on the minds of lenders. Lenders who have jumped into the proprietary space have been actively rolling out new additions to their product catalogs in hopes of standing out when compared with their competitors, but room […]

Forbes: Jumbo Reverse Mortgage a Viable Alternative Financing Option

For Americans who find themselves in unique financial situations requiring forms of financing that may serve as alternatives to more traditional, forward mortgage loans, numerous financial products exist that can potentially serve customers in such situations more efficiently than traditional financing. One of these alternative methods is a jumbo reverse mortgage, according to Melissa Cohn, […]