A reverse mortgage loan may be a tempting prospect for a homeowner over the age of 62, particularly if they’re looking for new and novel ways to make ends meet in retirement. It may be a loan worth exploring, as long as the potential disadvantages of the product category are understood before engaging into one […]
Web-based reverse mortgage origination platform QuantumReverse has been awarded a new patent for its software’s handling of Financial Assessment (FA) requirements for Home Equity Conversion Mortgage (HECM) loans in its system. The patent, which lists QuantumReverse founder and CEO Thomas Martignoni as its inventor, protects a QuantumReverse product feature which allows its users to accomplish […]
Reverse mortgages may be a good option for particular seniors who find themselves strapped for cash, but should likely still be among a senior’s final considerations when coming up with a financial plan in retirement. This is according to consumer finance commentator and syndicated radio host Clark Howard, describing reverse mortgages on his website Clark.com. […]
As the latest form of expansion for Nationwide Equities’ EquityPower proprietary reverse mortgage, the Mahwah, N.J.-based lender announced this week it is making the product available via its wholesale channel in New York state. The company launched EquityPower in February 2020 and has gradually expanded its reach in recent months, including making the product available […]
Reverse mortgage technology platform ReverseVision today announced the hiring of Carissa Orozco as director of business development, strategic partners where she will spearhead strategic integration partnerships that allow traditional mortgage lenders to integrate Home Equity Conversion Mortgage (HECM) and private reverse mortgages into the loan qualifying, sales and origination process. Orozco has 17 years of […]
Although afflicted by reputational issues that often stem from negative media coverage and a lack of full understanding regarding what they are, reverse mortgages have undergone an intense stretch of maturation into a product that has been refined by consumer protections and greater understanding. It’s these attributes that make reverse mortgages a viable option for […]
As the economic impact of the COVID-19 coronavirus pandemic continues to intensify as time goes on, the ability for Americans to access the equity in their homes has only gotten more complicated and even problematic. This is according to housing experts and data analysis appearing this week in the Washington Post. While as many as […]
Buena Park, Calif.-based Sun West Mortgage Company announced the launch of “CashKeeper” — a new proprietary reverse mortgage product — which is the latest in a line of private reverse mortgage products aiming to provide financing for loan amounts higher than the maximum limit set by the Federal Housing Administration (FHA) for the more traditional […]
Nationwide Equities has announced the availability of its proprietary EquityPower reverse mortgage in the state of New York. The product was approved by the state’s Department of Financial Services this week, following Nationwide Equities’ application for approval many months ago. “Now we are the second lender in the state to offer a private reverse mortgage,” […]
As proprietary reverse mortgage products have emerged as an increasingly dominant player in the broader reverse mortgage industry, determining what common attributes are shared by a group of borrowers who decide to go the proprietary route becomes essential so that lenders can best tailor their proprietary offerings to meet the needs of their clients. The […]
