Skip to main content

New Endeavor Aimed at Homebuying Seniors

Phil Hall
May 22, 2019

The online adult communities resource has teamed with Retirement Funding Solutions, a division of Mutual of Omaha Bank’s subsidiary Synergy One Lending Inc., to launch 55places Mortgage, a new enterprise aimed at increasing the homebuying capacity to those who are 62 years of age and older.
The new 55places Mortgage endeavor will serve as the exclusive provider of The 62+ Loan, an FHA-insured alternative to paying cash. According to San Diego-based 55places Mortgage, this product allows homebuyers to make a one-time downpayment from existing equity or savings, which can be leveraged for increasing buying power and reducing out-of-pocket expenses. 55places Mortgage will also offer information to seniors on 30- and 15-year mortgages and 5/1 year adjustable-rate mortgages
"Active adult communities offer amenities that meet a variety of interests, which helps create a support system in which retirees can build meaningful relationships and a sense of belonging," said Bill Ness, CEO and founder of "That type of lifestyle is desired by many and easily attainable with The 62+ Loan. With no monthly mortgage payments, there's more financial flexibility for homeowners to choose where and how they want to spend—be it completing bucket lists, traveling, or treating grandkids."

May 22, 2019
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023 Stays Bullish On Industry Disruption Amid Q3 Losses

Despite a $340 million Q3 loss,'s leadership emphasizes cost reductions, automation, and investment in technology.

Nov 15, 2023
Fannie Mae Extends Rent Payment Pilot

Positive Rent Payment program offers financial stability and opportunities.

Nov 14, 2023