New HECM Advantage™ from Financial Freedom

Early last month Financial Freedom released a new product called the HECM Advantage™.  The press release states that compared to the HECM monthly adjustable product with the old margin of 1.5%, the HECM Advantage™ offers a lower interest rate and access to more home equity that can be converted to cash at a lower overall […]

Fixed 4 Life™ Reverse Mortgage

1st Reverse Financial Services has released the Fixed 4 Life™ reverse mortgage product which is the second fixed reverse mortgage product to be released this week. According to the press release, the Fixed4Life™ Fixed Rate Reverse Mortgage will be available to their network of Correspondent Lending Partners in a phased roll-out across the nation over […]

New Reverse Mortgage CRM from Lender Lead Solutions

Today, Lender Lead Solutions introduced the Specialized Technology for the Origination of Reverse Mortgages application (STORM).  STORM serves the same purpose as a customer relationship manager (CRM) but has a unique focus on the reverse mortgage market.  According to David Peskin, chief executive officer of LLS, “We have created a complete lead-to-closed loan application that automates […]

Fixed Rate Reverse Mortgage from BNY Mortgage

Today, BNY Mortgage announced the release of the HECM Fixed Rate (SM) product which is the first fixed rate reverse mortgage being offered since the early 1990s.  This is the first of two fixed rate reverse mortgage products that BNY Mortgage is expected to release this month.  The HECM Fixed Rate is targeted at borrowers with loan […]

Seattle Mortgage Lowers Reverse Mortgage Margin

Seattle Mortgage just recently made a change to their Independence Plan (SM) which is one of the new jumbo reverse mortgage  products on the market.  The standard Independence plan has a margin of 3.60% but now if the borrower is willing to keep their LTV a bit lower they are willing to cut the margin  to 2.10%.  “The […]

New Generation HECM (TM)

According to an article from Heraldnet that was released yesterday, BNY Mortgage will be releasing two fixed-rate reverse mortgage products on March 5. The first will be called the New Generation HECM (TM) which will be tied to the one-year CMY or constant maturity treasury index. The second product, the Fixed Prime Advantage (TM) which […]

New Reverse Mortgage Pricing Options

Today, Lender Lead Solutions introduced their Flex Margin Advantage (TM) Pricing program which allows originators to customize the margin on the HECM.  The originator has the ability to change the margin in 0.25 percent increments from 1.00 percent to 2.00 percent over the one year Constant Mature Treasury (CMT).  According to David Peskin, CEO of LLS […]

New Generation Mortgage Jumbo Product

Today, Generation Mortgage Company announced the introduction of their Generation Plus(TM) jumbo reverse mortgage program. This program differs slightly from the other jumbo programs in the market by lowering the margin to 3.125% instead of the standard 3.5%. However, the margin is based off of the 1-Month Libor instead of the 6-Month Libor like the […]

New Wholesale Reverse Mortgage Lender Opens

Lender Lead Solutions announced today the formation of LLS Financial which will be the wholesale reverse mortgage division of the company. LLS is known for their lead generation system which generates more than 15 percent of the closed reverse mortgages in the U.S., according to the press release. LLS has done a great job marketing […]

Jumbo Reverse Mortgage, what are your options?

Recently a few people have asked me, “is Financial Freedom my only option for a jumbo reverse mortgage?”.  At the moment… Yes.  However, in the next few weeks we will see a few new programs roll out.  The one that I am most interested to see is the BNY Mortgage Company Prime Advantage (TM) program.  This will be […]