Items Tagged with 'JUMBO 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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  • 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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