Local Spotlight: Reverse Mortgages in Texas

Sure, everything is bigger in Texas. But is the state on track to becoming the largest reverse mortgage market in the country? Absolutely, says Scott Norman, vice president of field retail and government relations at Finance of America Reverse, LLC, in Austin. He predicts that Texas will lead the industry by 2030. Regional Stats: Total […]

Reverse Mortgage Popularity is Growing in Taiwan

Applications and lending amounts for reverse mortgage programs are growing in Taiwan, signaling increasing demand and popularity for the country’s population of older homeowners. “The number of applications to 13 local banks reached 3,186 as of the end of last month, a 38 percent increase from 2,309 a year earlier,” according to the Taipei Times, […]

Financial Planner Takes Aim at Reverse Mortgages, Industry Expert Responds

Prominent financial planner Jill Schlesinger, who has a historical track record of questioning the viability of reverse mortgage products, has highlighted what she views as their deficiencies in a new radio appearance promoting her new book. However, reverse mortgage expert John Lunde, president of Reverse Market Insight (RMI), finds flaws in the reasoning behind some […]

New Investment Brings ‘Point’ Equity Release Capital Raise to $265M

Palo Alto, Calif.-based Point, a shared equity reverse mortgage alternative that gives homeowners the ability to sell a small fraction of their equity, has raised $22 million in series B investment funding, and an additional $100 million in platform capital. This brings total equity investment in the product to $33 million, and total platform capital […]

Bay Docs, RTG Partnership Bridges Reverse Mortgage Origination, Servicing Platforms

Two high-profile software creators in the reverse mortgage space have announced a partnership in the aim of streamlining the hand-off between reverse mortgage loan origination and servicing. Bay Docs, LLC and Reverse Technology Group (RTG) will be integrating the technology platforms of both companies in order to make the transition between origination and servicing more […]

Reverse Mortgages in Australia: Demand Rises as Major Players Exit

Increasing popularity for reverse mortgages in Australia has the potential to allow more retirees to adequately fund their post-working lives, but some potential borrowers are being blocked from pursuing reverse mortgage solutions in the country as banks are exiting the space. A 6.5 percent increase in New Zealand-based Heartland Bank’s recorded profits was bolstered by […]

Why Some Reverse Lenders See Potential in Non-QM Market

Looking out for new opportunities in the wake of reduced reverse mortgage volume can lead lenders into spaces that are not often considered. While some companies are expanding their operations into forward lending, others are taking that expansion attitude one step further by dipping their proverbial toes into the waters of non-qualified mortgage (non-QM) lending. […]

How to Serve Clients on the Borderline Between HECM and Jumbo Loans

As proprietary products gain appeal among prospective reverse mortgage borrowers, some companies are confronted with a new conundrum: prospects who qualify for both jumbo and Home Equity Conversion Mortgage (HECM) options. “California has a lot of borrowers with homes valued between $700,000 to $800,000,” says Christina Harmes, assistant manager of the C2 Reverse division of […]

RMF Updates Equity Elite Jumbo to Reduce Fees, Closing Costs

Reverse Mortgage Funding (RMF) announced Tuesday that it is making changes to its proprietary product Equity Elite, including a reduction in origination fees and borrower closing costs—available through  its third-party origination (TPO) broker channel. The company is also integrating Equity Elite through the ReverseVision reverse mortgage software platform. RMF first eliminated the majority of closing […]

The Impacts of Proprietary Products on Reverse Mortgage Volume

In areas of the United States that have a prevalence of highly valued properties, jumbo proprietary reverse mortgages are increasingly becoming attractive options for lenders as the larger reverse mortgage industry observes generally reduced volume of government-insured Home Equity Conversion Mortgages (HECMs). For those companies that are active in both the jumbo proprietary business and […]