RMF Updates Equity Elite Jumbo to Reduce Fees, Closing Costs

Reverse Mortgage Funding (RMF) announced Tuesday that it is making changes to its proprietary product Equity Elite, including a reduction in origination fees and borrower closing costs—available through  its third-party origination (TPO) broker channel. The company is also integrating Equity Elite through the ReverseVision reverse mortgage software platform. RMF first eliminated the majority of closing […]

How Reverse Mortgage Lenders Handle the Condo Approval Process

The required Federal Housing Administration (FHA) approval process for condominiums has been a consistent thorn in the side of the reverse mortgage business. Because it is the full condo complex that is required to have FHA approval, lenders have to approach each un-approved complex’s association or board in order to encourage them to go through […]

RMF Takes Top Spot for Reverse Mortgage Securities Issuance in 2018

Reverse Mortgage Funding took the top position in annual HECM Mortgage Backed Securities issuer rankings in 2018 with 41% market share and responsible for $3.92 billion of HMBS securities, according to data compiled by New View Advisors. The reverse mortgage lender, founded in 2013, was followed by AAG, Finance of America Reverse, Ocwen Loan Servicing […]