AAG Details Updates to Private Reverse Mortgage Use Trends

In early 2019, American Advisors Group (AAG) revealed some surprising statistics related to the ways in which its proprietary reverse mortgage offering – AAG Advantage – was being employed by borrowers. Now, the company has shared updates to the ways its non-FHA offering is primarily being leveraged by a more recent class of borrowers. This […]

Longbridge Launches ‘Platinum Ultimate,’ Expands LOC Product

Mahwah, N.J.-based reverse mortgage lender Longbridge Financial has announced a new addition to its fixed proprietary reverse mortgage product suite. “Platinum Ultimate” adds a new, higher loan-to-value (LTV) variation to the existing proprietary Platinum product line, maintaining many of the existing features of current Platinum products. The company also announced expanded availability of its recently-launched […]

Washington Post: Consider Reverse Mortgages, But Be Aware of Cons

Reverse mortgages can be viable options for older Americans who are looking to borrow money for an abundance of reasons, and should be considered based on their own merits. Still, prospective borrowers should be aware of any potential cons that reverse mortgages may have, including high upfront costs and the critical necessity of being able […]

Nationwide Equities Launches New ‘EquityPower’ Proprietary Reverse Mortgage

On the heels of a flurry of new private reverse mortgage product development, top-20 lender Nationwide Equities Corporation announced this week the introduction of its own private reverse mortgage, “EquityPower.” The fixed-rate, lump-sum product allows borrowers to access greater proceeds than the traditional Home Equity Conversion Mortgage (HECM) allows. Nationwide’s leadership sees the product’s launch […]

National Notary Association: Reverse Mortgages ‘Good For Business’

While often overlooked by the notary business sector, the reverse mortgage industry can be a very positive resource for someone building a mobile notary business particularly for notaries who may reside in a part of the United States with a high population of seniors. This is according to columnist Carol Ray, the owner of a […]

Some Positive Reverse Mortgage Industry Effects of Oct. 2017 Changes

When the Federal Housing Administration (FHA) handed down changes to principal limit factors (PLFs) in October of 2017, by all accounts that changed proved nearly disastrous for the reverse mortgage industry. Endorsement volume for Home Equity Conversion Mortgages (HECMs) seriously declined, originators related stories of increased difficulty in finding qualified borrowers, and many still refer […]

Private Reverse Mortgages: What Products Borrowers Are Using Most

Due in no small part to 2017’s reductions in principal limit factors (PLFs) as well as the institution of a collateral risk assessment sometimes requiring a second property appraisal, the reverse mortgage industry has been very active in seeking to find potential alternatives to the government-sponsored Home Equity Conversion Mortgage (HECM) program. One of the […]

New York Times: How to Extract Equity Out of a Co-op

Seniors do have the ability to extract home equity out of a co-op, though there could be limits on the manner in which they may go about it, as well as the amount of equity that can be extracted. This is according to a column at the New York Times, featuring the perspective of a […]

Private Reverse Mortgage Inquiries Steady as Lenders Eye Product Expansions

Borrower inquiries related to proprietary reverse mortgage offerings appear to be steady in the early days of 2020 compared with their figures in late 2019, according to reverse mortgage counseling professionals. While steady for the moment, lenders and industry observers have noted increased levels of business activity that can be at least partially attributed to […]

[Updated] FAR Brings HomeSafe to New States, Rolls Out Product Changes

Finance of America Reverse (FAR) announced on Thursday a slew of occurrences related to its “HomeSafe” proprietary reverse mortgage product catalog, including new availability of HomeSafe Select in Hawaii and Texas, two additional options in the state of Colorado, and refinements to one product variation in the state of Florida. The expansion of the general […]