Local Spotlight: Reverse Mortgages in New England

Last October, New England saw a 34 percent increase in reverse mortgage growth, according to data analytics firm Reverse Market Insight. This growth positioned the region in the top spot, followed by the Southwest, which saw a 29 percent increase. So what are they doing right in New England? Regional Stats:Total New England Population: 14,810,001 […]

FAR Refines Proprietary HomeSafe Products, Drops Most Origination Fees

Finance of America Reverse (FAR) has announced changes implemented into its HomeSafe proprietary reverse mortgage offerings, made in an effort to tackle borrower perceptions concerning the cost of taking out a reverse mortgage loan. Among the changes FAR is making, there will be no origination fee on HomeSafe Standard, Save, Plus, and on the Flex […]

Originators Point to Reverse Mortgage Safety vs. New Alternatives

As more alternative home equity tapping tools like sale leasebacks and shared equity products begin to enter conversations about retirement, more traditional reverse mortgage products are finding themselves in a more competitive environment. Originators don’t tend to see these products as threatening, but more traditional reverse mortgages may have another key advantage: borrower safety. The […]

Lenders Aim to Make Private Reverse Mortgages Available in More States

Private alternatives to the government-insured Home Equity Conversion Mortgage (HECM) are becoming more popular — particularly for people with high-value properties — and have been seen by some in the reverse mortgage industry as a possible factor that could save the business from generally reduced volume, and the still-felt impact of October 2017’s changes to […]

RMD Report: What Originators Want From New Proprietary Reverse Mortgages

The emergence of new, proprietary offerings in the reverse mortgage market has been seen by originators and business observers as a general boon to the larger industry. Certain firms recently shared with RMD that, in the case of proprietary “jumbo” loans that are outside the purview of Federal Housing Administration (FHA) oversight, they’ve seen a […]

PBS’ Baby Boomer-centric Website Spotlights Proprietary Reverse Mortgages

For baby boomers with highly valued properties, the new swath of proprietary reverse mortgage offerings may be something to take a closer look at. This is according to a new spotlight for those proprietary loans found on NextAvenue, a website aimed at the baby boomer generation owned and operated by the Public Broadcasting Service (PBS). […]

Live Well Targets Growth Through New Technology, Forward-Reverse Approach

Live Well Financial is expanding its business with the evolution of an in-house technology platform that caters to a forward-reverse approach, and targets its distributed retail channel. While the company has been originating forward and reverse mortgages for some time, it is now ramping up its efforts toward distributed retail sales with originators who will […]

A Deeper Look into Canadian Reverse Mortgage Growth

Demand for reverse mortgages in Canada continues to grow, presenting a stark contrast to the declining volume exhibited in the American reverse mortgage market. On top of specific product differences in the Canadian product, there’s also a different business climate over the northern border that accounts for some of the differences between the two nations’ […]

FAR Views HomeSafe Select Changes as ‘Net Positive’

Finance of America Reverse (FAR) has eliminated a feature of its HomeSafe Select proprietary reverse mortgage, RMD has learned, in addition to several product changes rolled out in December. The changes were made in response to feedback from borrowers, investors and partners, and are seen by the company as “net positive.” The changes, announced last […]

Inside Reverse Mortgage Alternatives: Figure Home Advantage

Last November, Figure Technologies announced the availability of a new sale leaseback offering as an alternative method of home equity tapping when compared to a reverse mortgage. It also makes plain that it seeks to compete with reverse mortgage offerings, since navigating to the product’s dedicated page on Figure’s website immediately greets visitors with a […]