Friday Round-Up: New Reverse Mortgage Targets High-Value Borrowers

In case you missed it, here’s what happened in reverse mortgage news this week:

Urban Launches New Private HomeSafe Reverse Mortgage—The new, fixed-rate reverse mortgage proprietary product will cater to borrowers who have high volumes, with a maximum loan amount just north of $2 million. Available to borrowers beginning in September, Urban plans to roll out the product in just five states initially.

Reverse Mortgage Market Sees Broker Count Boom—The reverse mortgage market may start to show signs of an uptick in loan volume, considering an influx of 733 mortgage brokers that have been added to ReverseVision’s RV Exchange origination software in the past year.

AAG New Hires to Grow Reverse Mortgage Affinity Partnerships—American Advisors Group plans to grow its external partnerships with homebuilders, developers and financial planners through the addition of two new team members.

Reverse Mortgage Volume Up, Contrary to Popular Belief—Despite figures from HUD on reverse mortgage originations over the past six months, loan volume is actually trending up, according to data released this week from ReverseVision.

Brookings: Reverse Mortgage Can Play Viable Role in Retirement—Researchers with The Brookings Institution echoed what financial planners have been saying about reverse mortgages lately and their usage as practical retirement tools.

Written by Jason Oliva

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