Items Tagged with 'PROPRIETARY REVERSE MORTGAGES'

ARTICLES

  • Reverse Mortgage Funding reduces fees, broadens broker access to proprietary reverse mortgage

    Now accessible on a second LOS, Equity Elite also has lower origination fees and closing costs
    New York-based Reverse Mortgage Funding jumped on the proprietary reverse mortgage train in May, becoming the third lender to offer a non-agency, jumbo reverse mortgage with the launch of its Equity Elite product. Now, less than a year later, the lender announced it is cutting the cost of its offering and making it available to a larger pool of brokers by appearing on ReverseVision's LOS.
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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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  • Is Liberty Home Equity Solutions about to get in on the proprietary reverse mortgage game?

    Parent company Ocwen reveals successful pilot program
    It seems Liberty Home Equity Solutions may be the next HECM lender to launch a proprietary reverse mortgage product. Liberty's parent company, Ocwen Financial, recently revealed that the company successfully test drove a non-agency reverse product in financial documents detailing fourth quarter earnings.
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  • Fourth securitization of proprietary reverse mortgages is completely paid off

    In a solid sign of a promising market, investors pocket their principal and interest in full
    A securitized pool of proprietary reverse mortgages paid off completely last week, becoming the fourth pool to close out. New View Advisors said the successful conclusion of another Lehman Brothers' pool is welcome news for those investing in today's proprietary reverse market, which has ramped up in the last year after a long hiatus.
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  • More borrowers turn to proprietary reverse mortgages

    Lenders report growing interest in non-agency reverses
    For years, 95% of the reverse mortgage market has been dominated by the FHA's HECM offering. But it looks like that's about to change. Now, borrowers can take a reverse mortgage on a higher priced home and choose from a selection of products with a number of interesting features offered by five different lenders, and lenders say consumer interest is strong.
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  • Here's where HECM originators see opportunity in 2019

    Reverse professionals share their focus in the year ahead
    There’s no disputing that it’s been a rough year for the reverse mortgage industry, with volume recently falling to a low the industry hasn’t seen in 14 years. But now that program changes issued in October 2017 are firmly in the rearview, some HECM originators are ready to charge ahead, optimistic about the promise for better business in the year ahead.
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  • Reverse mortgage industry reacts to FHA’s hint at future policy changes

    Last week’s actuarial report suggests more change is on the horizon
    Last week, FHA’s 2018 Report to Congress revealed the HECM portfolio’s continued drain on the MMI Fund. While the agency said it was optimistic past policy changes would improve the program, it also suggested more change is coming for HECMs. While this wasn’t exactly welcome news for an industry that can’t seem to catch its breath, reverse execs offered a measured response to FHA’s report.
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  • Finance of America Reverse rebrands as retirement solutions provider

    Announces partnership with home sharing service Silvernest
    Reverse mortgage lender Finance of America Reverse has announced it is rebranding as a provider of retirement solutions dedicated to helping people "get to work on retirement." FAR President Kristen Sieffert said the move is essential to change the conversation about reverse mortgages, stating that, "It's critical that we become more than a just a lender."
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  • Proprietary reverse mortgages essential to helping more homeowners access equity

    Expert panel predicts more products will emerge to fill HECM's void
    Proprietary reverse mortgages are key to helping American homeowners unlock the wealth in their homes, and we'll likely see more of them come to market, said panelists at NRMLA's annual meeting on Monday. "Ultimately, what we're trying to do is create solutions for borrowers and give them flexibility and choice," said Jonathan Scarpati, vice president of wholesale at Finance of America Reverse.
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  • Insiders reveal latest HECM counseling trends

    Speakers at NRMLA conference shed light on what’s in the pipeline for HECM lenders
    In two separate sessions that discussed reverse mortgage counseling, insiders revealed emerging trends that shed light on what’s coming down the pipeline for HECM lenders. At NRMLA’s annual meeting Monday, panelists from three different counseling agencies reported on the trends they’re witnessing, while HUD’s John Olmstead revealed HECM counseling stats.
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