Mutual or Omaha launches its own reverse mortgage product
“At Mutual or Omaha Mortgage we understand the various financial needs of our customers,” said Alex Pistone, president of the reverse division of the company. “With Secure Equity we are delighted to introduce a product that not only reflects our dedication to our customers, but also publishes the mutual of Omaha’s inheritance of trust that has been built for more than 116 years.
“Secure Equity enables us to serve our customers who are starting to end up; originally to maintain, to guarantee a seamless experience.”
Conditions of the product are broadly comparable to those which rule Federal Housing Administration‘S Home Equity Conversion MortGage (HECM) Loan. The borrower must stay in the house as their primary home and paying real estate tax, insurance of homeowners, HOA costs and maintenance costs to keep the loan a good reputation.
After a first consultation, the borrower can continue to the application and qualification process. They must have the house that is estimated to determine a definitive credit amount that more than FHA limits are and can then proceed to take out and finance loans. Monthly payments are not required for the product.
Housing‘S Reverse MortGage Daily (RMD) presented to representatives of Mutual or Omaha Mortgage, but received no response.
In October 2024, the company also launched a broker protection program that provides access to five core protection approved by the company.
This includes a promise that the lender “will not ask for borrowers who have settled within the broker’s network.” It will also exclude Broker network leners from the company’s outgoing marketing campaigns.
In 2024, Mutual or Omaha became the leading HECM money shooter in the country per unit. The company registered 6,224 HECM notes in the 12-month period that ended in February 2025, according to data collected by Insight into the opposite market (RMI).
