Reverse

Q3 Senior Home Equity Hits $6.1 Trillion Mark

The National Reverse Mortgage Lenders Association (NRMLA) has reported that homeowners aged 62 and older saw an overall 2.6 percent increase of $152 billion in senior home equity in the third quarter of the year, bringing the total to $6.1 trillion.

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Today’s senior homebuyers now have access to a powerful traditional mortgage alternative when considering the purchase of a new primary residence. Imagine purchasing a new home and no monthly payment is required!

ReverseVision Inc. has announced the launch of their Professional Services Division aimed at helping reverse mortgage lenders and brokers to be more successful. The main objective of RV Professional Services is to understand each client’s unique business needs and assist them in attaining their business goals.

Few people have made a more vibrant impact on the reverse mortgage sector than Atare E. Agbamu. In his work as a broker, originator, columnist, book author, activist and consultant, Agbamu has been a champion of the reverse mortgage product and a tireless advocate for older consumers  the product was designed to support.

America’s older population is in the midst of unprecedented growth, but the country is not prepared to meet the housing needs of this aging group, concludes a new report released by the Harvard Joint Center for Housing Studies and AARP Foundation. According to Housing America’s Older Adults—Meeting the Needs of An Aging Population, the number of adults in the U.S.

Urban Financial of America LLC (UFA) has introduced its HomeSafe proprietary reverse mortgage. Through HomeSafe, loan proceeds of up to $2.25 million are available, compared to traditional reverse mortgages or Home Equity Conversion Loans (HECMs), which currently have legislated maximum available loan proceeds of $469,125.

Leading reverse mortgage lending solutions provider ReverseVision added 733 mortgage brokers to its RV Exchange (RVX) loan origination software between July 2013 and June 2014, including 379 brokers added in the first half of 2014. RVX is the leading independent reverse loan origination system and lending system of record for the majority of reverse lenders.

Urban Financial of America LLC (UFA) has announced that it is now licensed to conduct its retail and wholesale reverse mortgage business in the state of Hawaii.

Increasing lifespan coupled with earlier retirement poses a challenge for many individuals and couples trying to figure out how to make sure their financial resources will last their lifetime. Longevity is a gift on the one hand, but it also requires forethought and planning to make sure one’s finances will sustain them through the duration of their life.

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