Build Your Reverse Mortgage Business with Wolters Kluwer Financial Services Tools and Resources

Your single source of information and compliance documentation for reverse mortgage!

The mortgage industry is experiencing exceptional growth as reverse mortgages become increasingly popular with retirees and aging baby boomers. A Home Equity Conversion Mortgage (HECM), the most common form of reverse mortgage, enables homeowners age 62 or older to convert home equity into income without having to sell their home. HECMs offer your clients a means to supplement their income, stay in their homes longer, and lessen any burden on their families.

Recorded Best Practices Webinar on Home Equity Conversion Mortgages

Why do reverse mortgages appeal to consumers? What are best practices for implementing a Home Equity Conversion Mortgages product? What documentation is required to properly document this type of loan? Learn the answers to these questions and more. Download our FREE recorded best practices webinar presented by compliance experts knowledgeable in reverse mortgages and mortgage compliance issues.

Reverse Mortgage Electronic Documents

Our new line of electronic upfront disclosures and closing documents allows lenders doing business in the top 10 states underwriting HECMs to create compliant document packages. Rollout states include: California, Colorado, Florida, Illinois, Massachusetts, Michigan, New York, New Jersey, Pennsylvania, and Texas.

Features and Benefits

Electronic documents for HECMs from Wolters Kluwer Financial Services can help you take full advantage of the growth surge within the reverse mortgage market. Some of the benefits include:

• Secure higher loan amounts (FHA Reform Bill increased cap to $417,000).
• Increase replacement lending volume as traditional origination levels decrease.
• Capture additional revenue from closing fees (average of $8,000 - $17,000).
• Develop cross-sell opportunities for other products and services.
• Stay compliant with scheduled updates on compliance changes affecting reverse mortgage documents and forms.
• Utilize a single source of documentation in file formats that can be easily integrated into most loan origination systems. Available file formats include: PCL, UFF, UFF with Global Data Dictionary (GDD) field tagging, UFX, UFX/GDD, and PDF (without fields).

Our new line of electronic documents for HECMs is built on years of trusted experience and compliance knowledge from Wolters Kluwer Financial Services | VMP Mortgage Solutions. To learn more contact your Sales Representative, Customer Support at 800-552-9410, or use our online information request form.