Liberty’s Mike has talks again launching Equityiq inverted mortgage
The 2025 literation has launched a private label product under that name and arrives in a more pressure field of its own products. But knows trust in the value proposition of Equityiq.
The brand returns
When asked specifically about whether the new version of Equityiq is the same as the previous one, said there are some important differences, but the brand name itself is seen as a force.
“We love the brand name,” he said. “We think a level will follow. If you don’t have to start all over again, you’d rather not give it.”
The differences between the new version of Equityiq and what had been introduced earlier, mainly amounts to more “open and flexible guidelines,” said Kent. It takes more into account condominiums and offers what he calls ‘a fresh look at the financial assessment’.
Own inverted mortgages, broadly, are not bound Federal Housing Administration (FHA) Requirements in the same way as the conversion of home outputs (HECMS). This provides extra flexibility, said Kent.
“With Hecms, often, the reason that some start is not done, is because there is a lack of document, or what can be offered, does not meet [the U.S. Department of Housing and Urban Development]’s guidelines,’ he said. ‘But often for the insurer, what was provided is completely logical. So you have that flexibility, so it really is a different type of product. “
He added that he would call the 2025 literation of Equityiq “a new product in his current design, but it is a fully funded loan with fixed interest rates, so that has not been changed.”
Own inverted mortgage plans
In profit calls, the leadership of Onity Group is generally a free contributions from Liberty to the profitability of the total company. Kent said that it made the reintroduction of Equityiq a factor in planning the ways in which 2025 would play for his reverse mortgage arm.
“What allows us to do is just keeping our existing customers even deeper,” he said. “If you think about it, we are the only end-to-end reverse mortgage company-what means that the loans we come are the loans we maintain, and we serve them until the borrower no longer qualifies for a HECM, whether they die or go to supported life.”
Liberty’s end-to-end element is the core of his identity, said Kent, and it ensures a broader involvement with customers and other professional partners.
“Ownership only enables our B2B customers to stay with us for that entire journey,” he said. “Whether it is a HECM loan or your own loan, being able to offer both – and this may not be the only version of our own loan – our customers only enables us to stay much more with us. It really enables us to offer extra options to our existing customers.”
A more busy field
But the patented reverse mortgage space is also busier than in recent years, with the rise of new product providers such as Smartfi Home Loans As well as the recent launch of a new product from the HECM market leader Mutual or Omaha Mortgage.
When it comes to the ways in which Liberty can stand out with Equityiq, it says that it comes down to a tradition of services.
“Our hope is, in addition to launching our own product, other things we do in our company to expand our customer base and our distribution networks give us a leg,” he said. “We have a very large forward origin company from which we expand the reverse mortgage product, and a very large forward service portfolio. That will also enable us to extend Equityiq to the right demography within that service portfolio.”
Still, by staying consistent with the themes that Kent and colleague NRMLA co-chairman Jim Cory shared at the Irvine event earlier that day, he welcomes the more busy field.
“I think more people in space are better than less,” he said.
