How do I market reverse mortgages?
The same way as you generate your regular business: market your current database. Perhaps there is an older borrower (62 or older) who did not qualify for a traditional loan. Contact your account executive (AE) to learn about other creative options specific to you. If you don’t have an AE, you can contact us here.
How do I sign up?
Broker applications are run through Comergence, the widely used website for mortgage lenders. Please contact your AE for a free code.
Where do I begin if I have a lead?
Contact your AE immediately and they will guide you through the process. Or download this prequalification form, fill out the highlighted items, and email it to your AE.
What are the interest rates?
Rates are calculated weekly and sent out to partners.
How long does it take to close a reverse mortgage?
We typically aim for 30 days. It could be longer or shorter depending on the situation. We also have FastTrac processing, where loans can close as fast as 20 days. Contact your AE for more information.
Do I need to be a FHA-approved broker to be able to originate reverse mortgages?
No, we can still offer this program to you.
What if I have a loan in a different state?
You must be licensed in the state you are originating in.