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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
Finance of America Reverse (FAR) today announced a series of changes to its product suite of HomeSafe proprietary reverse mortgage loans, including the addition of a revolving line of credit with a growth feature for its HomeSafe Select loan and additional rate options for HomeSafe Standard and HomeSafe Flex, respectively. The product changes aim to […]
Boston-based alternative home equity tapping company Hometap announced Wednesday that it has secured $100 million in new financing. The capital raise includes new San Francisco-based investor ICONIQ Capital, LLC as well as Hometap’s current investors General Catalyst, G20, Pillar and American Family Ventures, the venture arm of AmFam Insurance. “We are thrilled to be investing […]
Last week, the Federal Housing Administration released a Mortgagee Letter (ML) detailing that the lending limit for government-backed Home Equity Conversion Mortgage (HECM) loans would be increasing for the fourth consecutive year in a row, to $765,600 beginning with case numbers assigned on January 1, 2020. This represents a welcome development for many reverse mortgage […]
Reverse Mortgage Funding (RMF) has introduced a new interest rate option for its Equity Elite proprietary reverse mortgage product, which is designed to broaden the reverse mortgage product landscape and capture a wider segment of senior borrowers. In an effort to compete more directly with traditional avenues of financing, Equity Elite has introduced a new […]
