Class Valuation Launches Borrower App to Show Home Interior During Alternative Appraisals

In light of the Federal Housing Administration’s recent shift to allowing desktop and “drive-by” appraisals for FHA-insured mortgages during the coronavirus crisis, national appraisal management company Class Valuation is launching an app to aid both borrowers and appraisers. The app, INvision YourHome™, is a mobile-based platform that allows homeowners to share interior photos and property […]

Longbridge Announces Platinum Changes, Commitment to Private Reverse Mortgages

Longbridge Financial is making a series of changes to its “Platinum” line of proprietary reverse mortgages which will affect all of its variations, including a new maximum lending limit, a new minimum home value, modified loan-to-value (LTV) ratios, and a new minimum FICO credit score. There are also changes being made specifically to the fixed-rate […]

Nationwide Taps ReverseVision Private Program to Support EquityPower Launch

Reverse mortgage technology platform ReverseVision announced that Nationwide Equities launched its new proprietary reverse mortgage product, “EquityPower,” with the help of ReverseVision private program support. Due to the impacts of the COVID-19 coronavirus pandemic, Nationwide anticipates that a proprietary reverse mortgage line of business will better position them amidst rising levels of unemployment and stock […]

Coronavirus Crisis Leads to Borrowers Using Standby Reverse Mortgage

An increase in reverse mortgage draw activity by borrowers in March is illustrative of the reliability of drawing on home equity in times of crisis, while also carrying implications for how reverse mortgage products may be perceived on the other side of the COVID-19 coronavirus pandemic. This is according to two financial professionals, based on […]

FAR Releases HomeSafe Product Changes in Light of Pandemic

Finance of America Reverse (FAR) on Monday announced to its partners a series of changes to its line of proprietary reverse mortgage products, called “HomeSafe.” Among these changes is a reduction in the lending limit from $4 million to $3 million, suspension of availability to borrowers aged 60 and 61, and a temporary suspension of […]

Nationwide Expands EquityPower Private Reverse Mortgage to Wholesale Channel

Mahwah, N.J.-based top-20 reverse mortgage lender Nationwide Equities is expanding the reach of its proprietary EquityPower reverse mortgage offering to all qualified broker partners, after a successful February roll-out to its retail division and select brokers. EquityPower is a fixed-rate, lump-sum product which allows borrowers to access greater proceeds than the traditional Home Equity Conversion […]

Liberty, RMF Suspend Private Reverse Mortgages Over Pricing Volatility

Two proprietary reverse mortgage products – EquityIQ from Liberty Reverse Mortgage and Equity Elite from Reverse Mortgage Funding (RMF) – have been ‘temporarily suspended’ by the lenders due to current levels of volatility in financial markets caused by the COVID-19 coronavirus pandemic. This is according to communications that both lenders separately issued to their partners, […]

FAR Enters Into Total Expert Partnership, Launches New Wholesale Portal

Finance of America Reverse (FAR) announced Thursday that it is entering into a new, exclusive partnership with widespread mortgage marketing platform Total Expert to provide third-party originators access to a dedicated platform aimed at improving originators’ reverse mortgage marketing expertise. The company is also launching Xcelerate, a new online portal of educational resources and sales […]

Financial Planners More Receptive to Reverse Mortgages During Crisis

A survey of approximately 230 financial planners during a Mutual of Omaha Mortgage and International Retirement Resource Center webinar hosted by Dr. Wade Pfau late last week revealed that 77% of financial planner respondents are more receptive to offering reverse mortgages to their clients in light of the stock market volatility introduced by the ongoing […]