Retirement Planning Alternatives Needed Before 2030 Apocalypse

The reverse mortgage industry may find opportunity to tap into a market segment that, by 2030, will require more than just traditional retirement plans. That’s when the “retirement apocalypse” arrives as baby boomers will have nearly depleted the Social Security trust fund and Generation X-ers will be moving out of work, Time magazine reports.  Only […]

Reverse Mortgage Alternative Product From EquityKey Returns

EquityKey is back and offering a new way for qualifying homeowners to receive 8%-16% of their property’s value in exchange for a share of the future appreciation of the property. Often referred to as an alternative to a reverse mortgage, EquityKey started to gain some traction right as the markets collapsed but was forced to suspended new deals […]

EquityKey Repurchased By Founders, Looks For New Funding

EquityKey sent out a notice to originators last week informing brokers them that it had been repurchased by its original founders and is no longer owned or funded by KBC Bank.  According to the statement, the company is in the process of identifying new funding sources with the intention of resuming funding in the second […]

NestWorth Emerges With A New Reverse Mortgage Alternative Product

In Home Equity Niche Freezes, American Banker Journalist Maria Aspan writes about how shaky capital markets have hurt the growth of equity release products from EquityKey and Rex & Co.  The products, which are often sold as an alternative to reverse mortgages, allow homeowners to receive cash in exchange for a share of their home’s […]

Equity Key Still Taking Apps For Reverse Mortgage Alternative Product

Several RMD readers have been asking if  EquityKey is still accepting applications for its reverse mortgage alternative product and the answer is “Yes”.  According to Equity Key’s Janis Jarosz, VP of Marketing, October was the company’s strongest application month yet.  While the company is still accepting applications, they have suspended funding for new applicants until […]

Wall Street Journal Covers Equity Release Programs

Equity Sharing agreements are all “the rage” at the moment.  In the past few weeks almost every major news publication has covered companies like EquityKey and Rex & Co.  Although each company structures the transactions in different ways, the premise of the arrangement is the same: A homeowner agrees to give up part of a […]

Reverse Mortgage Alternative Product Expands Into New States

As jumbo reverse mortgages continue to become harder to find and less competitive, taking a look at reverse mortgage alternatives like Equity Key and the REX agreement might be a better solution for some people.  Both products offer a broker advisor type of program if you have a clients that are interested in learning more […]

Virgin Money President Talks About Reverse Mortgage Alternative

Over the weekend, the New York Times featured an interview with Asheesh Advani, the president and chief executive of Virgin Money.  Richard Branson, chairman of the Virgin Group, acquired a majority stake in Advani’s company which was formerly called CircleLending.  While Virgin Money may not operate like a traditional bank which lends money, Virgin organizes […]