Items Tagged with 'Finance of America Reverse'

ARTICLES

  • Finance of America Reverse launches New York's only proprietary reverse mortgage

    Older New York homeowners can now tap up to $4 million in equity with the HomeSafe Standard
    For years, HECM lenders have tried to launch a privately insured reverse mortgage product in the state of New York but have been stopped by repeated regulatory roadblocks. But now, it appears one lender has broken through the barrier, as Finance of America Reverse announced Tuesday that is has successfully launched its proprietary reverse mortgage, the HomeSafe Standard, in New York.
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  • From HW Magazine

    2019 Rising Star: ​​​​​​​Jonathan Scarpati

    Vice President of Wholesale Lending, Finance of America Reverse
    Jonathan Scarpati, vice president at Finance of America Reverse, is the leader of FAR’s wholesale division, which has been the top wholesale company in the reverse industry for eight years running.
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  • How many borrowers are taking out jumbo reverse mortgages? No one really knows

    The industry avidly tracks HUD-endorsed HECMs, but it's sorely lacking cross-lender data on non-agency reverses
    For the last several months, data on reverse mortgage volume has illustrated a steady descent as the industry has struggled to regain its footing in the wake of program changes. But does this tell the whole story? Five lenders now originate proprietary reverse mortgage products. But the problem is they all decline to offer specifics on volume, so there’s no way to tell just how many of these non-agency loans the industry is collectively closing.
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  • Finance of America Reverse names Dan Hultquist VP of organizational development

    Hires the reverse mortgage trainer and author to assist in education across channels
    Finance of America Reverse has hired Dan Hultquist as vice president of organizational development. As such, the veteran reverse mortgage trainer will play a crucial role in developing the lender’s training and educational materials across channels, including those for professional partners in financial planning and real estate.
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  • Finance of America Reverse reduces cost of proprietary reverse mortgages

    Ditches origination fees, adds lender credits to combat cost concerns
    Finance of America Reverse announced it is taking steps to reduce the cost of two of its most popular proprietary reverse mortgage products, the HomeSafe Standard and the HomeSafe Flex. The lender said it has dropped origination fees and is offering lender credits in a move that directly combats the long-held criticism that reverse mortgages are too expensive.
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  • Finance of America Reverse's Kristen Sieffert: Holistic retirement options will save the reverse mortgage industry

    Lenders need to expand the conversation and broaden product offerings
    As the only woman leading a top 10 reverse mortgage lender, Finance of America Reverse President Kristen Sieffert is a dynamic trailblazer in the HECM space. Under Sieffert's guidance, FAR has become a major innovator in reverse lending and has rebranded as a provider of retirement solutions. HousingWire sat down with Sieffert to talk about the burgeoning proprietary market and why she believes the industry needs to adopt a holistic approach to helping America’s retirees.
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  • Reverse mortgage data details industry-wide volume plunge

    Wholesale endorsements suffer greatest decline at 34%
    Reverse mortgage volume plummeted a staggering 31.4% in December, closing out the month with just 1,749 loans and ending the year on a rather sour note. A new report from Reverse Market Insight breaks down the numbers, revealing that wholesale endorsements suffered the greatest loss at 34.4%, as many of the top lenders saw volume dip by as much as 46%.
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  • Finance of America Reverse eliminates key feature on proprietary reverse mortgage HELOC

    Borrowers can still get a line of credit, but it no longer grows
    Just two months after unveiling its HomeSafe Select – the only reverse mortgage HELOC on the market – Finance of America Reverse has eliminated a key feature of the loan. Despite boasting of the 5% growth rate on the Select's line of credit that could aid borrowers in "growing their available funds for future needs," the lender withdrew this option, disappointing borrowers who were just about to close.
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  • Here are the top 10 reverse mortgage stories of 2018

    A recap of the news that caught your attention this year
    It’s been an eventful year in the reverse mortgage industry. The HECM space saw new proprietary products enter the market, adjusted to a new second-appraisal rule, and witnessed volume plummet. We drilled down on our article stats to find out what reverse mortgage stories got the most attention this year, shedding light on the topics our audience found most interesting in 2018.
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