News

Despite HECM difficulties for condo owners, RMF approves “significant amount of non-FHA-approved condo projects”

Posted: January 9, 2019

Are your clients who own or want to buy a condominium struggling to get a HECM due to the FHA condo approval process?

As the approval process for condo owners seeking HECMs becomes more difficult and time-consuming, reverse mortgage lenders like RMF have created a different route to take, leading to a simpler and faster approval process, and making it possible for more condos to qualify for a reverse mortgage.  By creating a competitive alternative to HECMs for condo owners and buyers whose communities are not FHA approved, originators can help more customers buy the condo they really want, or remain in their homes with more financial flexibility.  See how RMF's Equity Elite product is helping more customers in condos obtain financing, as told by condo specialist Heather Quinn in this article from HousingWire.