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Why offer reverse mortgages?

To meet more of your senior clients’ needs!

Reverse mortgages are not new. In fact, the most popular type of reverse mortgage loan – the FHA-insured Home Equity Conversion Mortgage (HECM) – has been available to senior homeowners since 1989. Currently, more than 1 million senior households nationwide rely on this highly accessible and flexible tool to help meet their financial needs in retirement.

By partnering with us, you can add reverse mortgage lending to your product line. This will give you more to offer to your senior clients – and more to help them improve their lives and increase security in their golden years.

5 Ways That Reverse Mortgages Create More Opportunities for Your Financial Institution

  1. We have a staff of highly trained and experienced loan processors. If you organization does not have a dedicated reverse mortgage processor, we will process your reverse mortgage loans at NO COST…ever!
  2. Reverse mortgages create an additional revenue source with no disruption to your core business.
  3. Our team provides hands-on, no-hassle assistance with every applicant.
  4. Training for your lending team comes from nationally recognized experts in reverse mortgages.
  5. Reverse mortgages increase your referral sources among realtors, financial planners, and attorneys.
  6. Offering the HECM loan helps set you apart from your competitors – and win preference from your senior clients.

HECM Features & Benefits for Your Senior Clients

  • HECM loans require zero principal payments.*
  • There’s no minimum credit score requirement, and just a modest residual income factor.
  • Flexible terms offer your clients the choice of line of credit, monthly payments, or lump-sum options.
  • The HECM credit lines grow over time. The senior home owner has increasing borrowing power.**
  • HECM is a non-recourse loan. The borrower cannot owe more than the home’s value at the date of sale.
  • The senior borrower always retains title and ownership of the home to pass on to their heirs.
  • The HECM loan can be used for a purchase or refinance transaction.

*The borrower is responsible for taxes, insurance, homeowners’ association dues, and maintenance costs.
**Credit line growth rate is equal to the rate of interest and the MIP factor of .5% combined per year.

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