Items Tagged with 'Reverse mortgage'

ARTICLES

  • Longbridge Financial goes 'Platinum'

    Launches new proprietary reverse mortgage offering borrowers greater flexibility
    Longbridge Financial jumped on the proprietary reverse mortgage bandwagon Monday with the official launch of Platinum. Billed as a more flexible product than FHA's product, Platinum is a fixed-rate, full-draw loan designed to cater to borrowers with high home values who want access to cash up front at a low cost.
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  • Who’s the average reverse mortgage borrower?

    Data sheds light on who takes a HECM
    No longer a loan of last resort, reverse mortgages are increasingly considered a useful tool for retirement income planning. Recent data from the National Reverse Mortgage Lenders Association paints a picture of who takes a HECM.
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  • Would a reverse mortgage by any other name smell… sweeter?

    Maybe the name is holding the product back
    It comes as a surprise to…well, no one, that reverse mortgages come with some deep-seated negative connotations attached, which is why the industry has long debated the so-called “name problem.” Unfortunately, an issue like this is kind of a hard one to get around.
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  • HELOC or HECM, what's your choice?

    For the 62-plus set, the HECM could be a better option
    For older adults looking to retire and ditch that mortgage payment, a HECM could be the more advantageous. But compared with the overall HELOC market, the HECM market is tiny. Reverse mortgage originators haven't been able to crack the bias that has turned consumers away from the product.
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  • Is the future of the reverse mortgage market private?

    Could proprietary products edge out FHA’s HECM?
    There is pretty much one thing everyone is talking about in the reverse mortgage space right now, and it’s the proprietary market. With program changes stifling HECM loan volume, it seems lenders have finally found the push they needed to delve into the realm of private reverse mortgages.
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  • Who uses a reverse mortgage to purchase a house?

    No one, really, even though it could be a retirement gamechanger
    A little-known reverse mortgage product lets older homebuyers use their equity to purchase a house. It could help older adults free up cash at a time in life when liquidity is especially important. Too bad no one's really heard of it.
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  • HECM volume running really low

    But a marginal increase may be a sign that the worst is over
    The slump is a result of changes issued last fall by the U.S. Department of Housing and Urban Development that effectively limited the amount of proceeds available and the number of people who could benefit from the loan.
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  • Q&A: Synergy One's Torrey Larsen on the Mutual of Omaha Bank deal

    Does the bank’s buy-in signal a turnaround for the reverse mortgage space?

    Synergy One Lending President and CEO Torrey Larsen sits down with HousingWire to talk about what the entrance of a major player like Mutual of Omaha Bank means for the reverse mortgage market, and why he thinks traditional lenders will one day be the biggest players in the space.


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