Plaza Home Mortgage Offers Reverse Jumbo Mortgages – NMP
Reverse

Plaza Home Mortgage Offers Reverse Jumbo Mortgages

Nov 07, 2019
Plaza Home Mortgage Inc. has named Michelle Richardson senior vice president of treasury and finance, responsible for Plaza’s Treasury Department, including warehouse relationships, cash management and the company’s Corporate Funding Department

San Diego-based Plaza Home Mortgage has introduced a proprietary reverse jumbo mortgage program that will offer refinance loan amounts of up to $4 million.
 
The new fixed-rate loans will not require Federal Housing Administration mortgage insurance and will not set minimum or maximum draw amounts. The program covers a variety of properties including single-family home, residences with two to four units and condominiums, and it can also be used to refinance seasoned home equity conversion mortgages (HECMs) to jumbos or jumbos to HECMs.
 
The new program is available through Plaza’s Wholesale channel in California and Hawaii. The company did not say if it will be rolled out into other markets.
 
“Plaza’s new Reverse Jumbo mortgage program will enable brokers to address the income and refinancing needs of seniors and aging baby boomers in high cost housing markets in California and Hawaii,” said Mark Reeve, vice president of reverse mortgages at Plaza Home Mortgage. “Over time, we expect to expand the program to a number of other select high cost markets and to add adjustable rate and purchase options.”
 
About the author
Phil Hall
Link copied
Published
Nov 07, 2019
Get the NMP Daily
Analysis and Data
Bay Area Buyers Bring Bigger Down Payments As AI Wealth Grows

New Realtor.com report suggests AI-driven wealth is reshaping competition for homes across California's most expensive markets

Artificial intelligence may be creating a new class of homebuyers in California — and mortgage professionals are beginning to see the effects.A recent Realtor.com report found that Bay Area homebuyers are continuing to make unusually large down payments even as mortgage rate...

Continue reading
Operations
APM Acquires Synergy One Lending, Forms $14B Lender

The deal marks CEO Dustin Sheppard's first major strategic move since taking the helm at APM in October 2025

On June 5, American Pacific Mortgage (APM) acquired Synergy One Lending (Synergy One), combining two of the top-30 retail lenders in the country, per Modex, to build a national platform “for the next era of retail lending,” according to APM’s press release.Following the deal...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Reverse
Reverse Mortgage Borrowers Are Showing Up Too Late

GreenPath data suggests more seniors are arriving later in the financial cycle, limiting flexibility for loan structuring

Reverse
Apr 22, 2026
HECM Volume Rebounds In March But Signals Persisting Reverse Mortgage Slowdown

Endorsements rise month over month, but flat annual volume and growing proprietary competition reshape opportunity for LOs

Reverse
Apr 07, 2026
Finance Of America Launches Second-Lien Reverse Mortgage Amid Rate Lock-In Demand

New HomeSafe second line of credit targets equity-rich homeowners seeking access to cash without refinancing into higher rates or taking on monthly payments

Reverse
Apr 02, 2026
Mortgage Cadence Exec George Morales Joins NRMLA Board

George Morales, National Sales Director at Mortgage Cadence, has been elected to the NRMLA Board of Directors, where he will help guide reverse mortgage industry policy, modernization, and consumer-focused innovation

People On The Move
Dec 05, 2025
MBA Proposes Changes To Stabilize The Reverse Mortgage Market

The Mortgage Bankers Association has urged the FHA and Ginnie Mae to modernize and overhaul the HECM and HMBS programs to expand senior access, cut costs, and restore market liquidity

Reverse
Dec 01, 2025
Finance Of America To Acquire PHH’s Reverse Mortgage Assets

PHH has agreed to sell reverse mortgage servicing rights, comprised of approximately 40,000 Ginnie Mae HECM loans, with an unpaid principal balance of $9.6 billion, as PHH becomes the subservicer for the reverse MSRs under a three-year agreement

Industry News
Nov 18, 2025