Skip to main content

Finance of America Reverse Offers HomeSafe Standard in New York

Phil Hall
Jul 23, 2019
Finance of America Reverse LLC (FAR) has appointed Jessica Hanson as an account executive in the Wholesale Lending Department

Finance of America Reverse LLC (FAR) has announced the rollout of its proprietary HomeSafe Standard product in New York State.
 
HomeSafe Standard is a full-draw, fixed rate product that offers a lump sum payment with no initial limitations on available funds and no prepayment penalties. New York is the 24th state to approve the sale of this loan product.
 
“Given areas of New York have some of the highest home values in the nation and the large population of baby boomers both entering and enjoying retirement, the need for this product is staggering and the potential impact for borrowers is very exciting,” said Jonathan Scarpati, vice president of wholesale at San Diego-based FAR. “We’re proud to provide a new solution to our partners and advisor channels who haven’t had an option like this before.”


 
Published
Jul 23, 2019
More from
Reverse
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Reverse
Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Reverse
Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

FHA
Jul 26, 2021
RMF Revamps Its Borrower Qualification Process To Increase Efficiency

Reverse Mortgage Funding, LLC (RMF) is taking a new approach to the borrower qualification process for those seeking a reverse mortgage. The process was created to drive efficiency during the approval process and increase reverse mortgage market growth.

Reverse
Jul 20, 2021
Reverse Mortgage Endorsements Slide By More Than 4 Percent In June

Reverse mortgage endorsements decline by 4.4% to 4,160 loans, increasing the streak of more than 4,000 loans per month, according to Reverse Mortgage Daily.

Reverse
Jul 06, 2021
Liberty Reverse Mortgage Becomes Full Service Reverse Lender Following RMS Acquisition

Last week Ocwen Financial Services announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent shared how the acquisition will affect the company.

Reverse
Jun 22, 2021