Reverse Mortgages
The market for reverse mortgages has never been hotter, and when 75 million baby boomers start becoming eligible for them over the next few years, it’s going to get even hotter. Lenders who understand how to market reverse mortgages and have the point-of-sale technology necessary to originate and underwrite these loans are going to do very well. Statistics show that this market has grown more than 40% over the past couple of years with 13.2 million households now eligible for a reverse mortgage. Loan-Score recently added functionality into its automated underwriting system (AUS) that allows lenders to price, underwrite and lock reverse mortgages within seconds. With Loan-Score’s new reverse mortgage capability, your loan officers and underwriters become instant experts at selling and underwriting this product. The calculations, credit analytics, and investor guidelines for this product are all built into Loan-Score’s PowerPricer™ and AUS to enable the swift, accurate origination of a reverse mortgage. You can add reverse mortgage products yourself, or we can do it for you. You only need to add your pricing adjustments and start making money. Getting into the hot reverse mortgage game using Loan-Score has never been easier.- Next Steps
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