Products

By applying fresh and progressive thinking, we're delivering highly flexible reverse mortgage options, with aggressively competitive pricing and superior service. It's all about giving you more choices that meet the needs of today's consumers.

Reverse Mortgage Funding^™ (RMF) offers a full array of Home Equity Conversion Mortgage (HECM) loans as well as industry-leading proprietary products, plus the expertise to help you understand and navigate HUD product changes.

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Equity Edge Reverse Mortgage

Introducing our innovative new product available exclusively from Reverse Mortgage Funding LLC (RMF) as the lender. Equity Edge^† is more than just a jumbo reverse mortgage, it is a multifaceted product that was designed to fill the gaps in the current HECM program. If you have clients age 60 or older that own or are planning to purchase a home, Equity Edge may allow them to tap into more of their home's equity, sooner rather than later, and with lower upfront costs.

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Equity Edge Zero

For customers who want a reverse mortgage but are sensitive to closing costs, we now offer Equity Edge Zero. A sister product of Equity Edge, Equity Edge Zero eliminates almost ALL upfront costs* for clients as young as 60 years old. This exciting proprietary product is an ideal option for borrowers who are sensitive to upfront fees and are open to taking less in proceeds in exchange for reducing or eliminating closing costs.

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HECM Annual Adjustable Rate:

Get greater protection from rising interest rates

HECM Annual is a reverse mortgage whose interest rate adjusts only once a year, with a “lifetime cap” to ensure that your client’s rate will never go beyond a certain percentage over the initial rate. In addition, there’s an “interval cap” that guarantees that the interest rate cannot increase by more than a certain percentage annually. And to help give your client’s financial flexibility, they have the choice of taking their funds as a lump sum, monthly advances, a line of credit or a combination of these.

HECM Monthly Adjustable Rate

The interest rate on this HECM fluctuates on a monthly basis, but it also offers more options for homeowners — including a “rate cap” that guarantees that the rate will never go up more than a certain percent over the initial rate (depending on the loan options they choose). Your customers can select a lump sum draw, line of credit, monthly advances, or a combination of these options. For example, a customer might choose to take some of the cash up front and put the rest in a line of credit, so it’s available when and if they need it.

HECM Fixed Rate

With an interest rate that’s established at the loan closing — and fixed for the life of the loan — your clients always know exactly how much interest is accruing on their loan. However, with a HECM Fixed Rate, homeowners are required to take all of their money at closing in one lump sum. This may be a desirable choice if they’re using their HECM to pay off an existing mortgage or cover other immediate needs.

HECM for Purchase

This home financing solution helps your clients purchase a new home that will better fit their lifestyle by taking out a loan on the home they are buying. If you’re interested in expanding your business with HECM for Purchase, we can help! As an industry leader with this product, we have the keys to unlocking this sales opportunity. We can teach you what you need to know to be successful, show you how to educate consumers as well as realtors and builders who can help you expand your customer base, and give you the support of HECM for Purchase experts.

^*With this pricing option, borrower receives a lender credit covering nearly all closing costs. There is a non-refundable independent counseling fee of approximately $125 on average, which the borrower pays directly to the counseling agency. Terms and conditions apply. Not available in all states.

^†Equity Edge Reverse Mortgage ("Equity Edge") is Reverse Mortgage Funding LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Equity Edge is available to qualified borrowers who also may be eligible for HUD, FHA’s HECM program or are seeking loan proceeds that are higher than HUD, FHA’s HECM program limit. Equity Edge currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state.

Upon a maturity event, any non-borrowing individuals with an ownership interest in the property, including non-borrowing spouses, will have 90 days to purchase the property from the estate or, if the non-borrower inherits the property, pay the loan in full using any sources of funds available to them. Any non-borrowing individual, including a non-borrowing spouse, should have a plan to pay off an Equity Edge reverse mortgage upon the borrower’s death or any other maturity event. If the non-borrower is unwilling or unable to purchase the property or pay the loan in full, there is no protection for the non-borrower (including a non-borrower spouse) to maintain an interest in the home or to continue residing in the home past the maturity event and the non-borrower may be evicted upon foreclosure. The FHA HECM program has protections in place for certain non-borrowing parties, so a reverse mortgage applicant with certain non-borrowing parties should strongly consider a FHA-insured HECM loan (see HECM guidelines or ask an RMF representative for details). Under the Equity Edge reverse mortgage loan program, a maturity event occurs when the last surviving borrower no longer lives in the home as his or her primary residence for at least 12 months, the property charges (including taxes, insurance, HOA dues or any other property charges) are not paid, required repairs are not completed or the property is not maintained, or any other maturity event, as specified in the Security Instrument, occurs.

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Condo Project Financing

RMF specializes in securing reverse mortgage Condo Project Approval for your clients who own or are planning to purchase a condominium. As your reverse mortgage partner, we also offer assistance with project recertification and a range of financing options to help set you apart with prospective clients.

And with the new Equity Edge product series^†, we now offer loans for non-FHA approved condominiums, as well as FHA and Fannie Mae approved condominiums and townhouses.

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Pricing Options for Low-Utilized Loans

It’s now financially viable for your business to originate lower-utilized loans.

The Service Fee Pricing option for brokers and principal/authorized agents is an innovative pricing platform that allows RMF clients to effectively service the needs of today’s customer: those seeking standby lines of credit.

Reverse mortgages have been re-engineered, making them attractive alternatives to home equity loans and lines of credit—and with certain benefits to the customer. In fact, in many cases, a reverse mortgage line of credit is more suitable for customers age 62+ than a traditional home equity line of credit (HELOC). So this pricing option allows you to expand your marketing efforts by attracting these customers. It’s designed to provide you with:

Increased revenue, allowing you to write more lower-utilized loans
Greater ability to offer credits to borrowers
An option that’s even more competitive against a HELOC