Updates To RMF Equity Elite Jumbo To Reduce Closing Costs And Fees
The latest update to Reverse Mortgage Funding's Equity Elite jumbo product are expected to help reduce origination fees and borrower closing costs, according to a recent report from Reverse Mortgage Daily.
"RMF first eliminated the majority of closing costs with its Equity Elite Zero offering, and is expanding on those efforts by reducing origination fees on most of its standard Equity Elite offerings for the TPO broker channel," according to the report.
"Additionally, it is reducing borrower closing costs by implementing lender credits on some Equity Elite loan offerings."
The goal of the changes is to help propel RMF's position in the proprietary reverse mortgage space. Mark O’Neil, National Wholesale and Correspondent Sales Leader for RMF believes that such changes will add to the company's market appeal.
"You’re likely to see our proprietary market share expand based on these changes," said O'Neil, according to the report.
"I can tell you we’ve got additional product innovations that we’re working on currently that will continue to expand the market for our brokers, because we’re going to continue to come out with products that have appeal to more borrowers."
To learn more about these changes for RMF's Equity Elite jumbo product, click on the image above.