Launched in July of 2015 and headquartered in Bloomfield, New Jersey, Reverse Mortgage Funding (often abbreviated as RMF) has quickly grown into one of the top HECM lenders in the country. It is licensed in 48 of the 50 states (the two exceptions are New York and Hawaii) plus Washington DC and Puerto Rico, meaning that almost no matter where you live you can consider working with RMF. The company’s management team boasts executives with a deep knowledge of the industry, veterans of the reverse mortgage divisions at places like EverBank and Metlife who founded Reverse Mortgage Funding after these large banks exited the HECM business in the early part of this decade.
RMF has been a Better Business Bureau accredited business since 2015. It currently enjoys an A+ rating, the highest possible score with the BBB, and overall the reviews found on the Internet are favorable. Customers cite professionalism and friendliness from the loan officers.
Is RMF Right for Me?
Is Reverse Mortgage Funding the right company for you if you are considering getting a reverse mortgage? If you are thinking of getting a reverse mortgage then you have probably heard about all of the benefits that it offers. It can make your mortgage payments go away forever while also giving you access to the equity in your home. On top of that, you get to stay in your home for as long as you want to! It’s definitely an amazing opportunity, but only if you choose the right reverse mortgage company. Is Reverse Mortgage Funding the right option for you?
RMF is a relatively new company, but that shouldn’t deter you from working with them. The fact that they are licensed to operate in so many states is a solid endorsement that shows that they operate the right way. It’s also important to note that they are one of the few lenders that are endorsed by the American Banker’s Association. The point here is that they are licensed across the United States and have the endorsement of a reputable financial institution. They also boast an A+ rating from the Better Business Bureau. All of this adds up to paint a picture of a reputable and trustworthy company that you can feel comfortable doing business with.
Despite only being in business for a relatively short amount of time, Reverse Mortgage Funding has already helped more than 80,000 people. Reverse Mortgage Funding is also a direct lender. Why is this important? Many mortgage providers work as a type of middle man. They help to set you up with a mortgage company that suits your needs. Do you think they do this for free? No, they do it to make money, which means that when you use this type of service you end up paying more. Since Reverse Mortgage Funding is a direct lender the middle man is cut out. That means a lower cost for you, which is always a good thing.
Reverse Mortgage Funding Statistics
|Date||Loans||Total Max. Claim|
Since the beginning of 2015, RMF has originated the third most reverse mortgages in the US:
|AMERICAN ADVISORS GROUP||86,750|
|ONE REVERSE MORTGAGE LLC||17,104|
|REVERSE MORTGAGE FUNDING LLC||15,693|
|FINANCE OF AMERICA REVERSE LLC||12,216|
|FAIRWAY INDEPENDENT MORTGAGE CORPORATION||8,611|
|LIBERTY HOME EQUITY SOLUTIONS INC||7,725|
|MUTUAL OF OMAHA MORTGAGE INC.||7,500|
|SYNERGY ONE LENDING INC.||6,849|
|HIGH TECH LENDING INC||5,424|
|REVERSE MORTGAGE SOLUTIONS INC||5,001|
Reverse Mortgage Funding has also gone above and beyond to try to make the process of applying for a reverse mortgage as painless as possible. You can apply online and get a free quote, then fill out the majority of the paperwork online. There’s no traveling to a bank or any other hassles. Once you are approved, they have a dedicated team in place to help answer any questions you may have. They prioritize customer service, and once you have a reverse mortgage with them you will definitely experience this for yourself.
If you are thinking of getting a reverse mortgage then it’s only natural to be a little nervous. This is your home, so of course, you should ask a lot of questions to ensure you are doing what is right for you. Fortunately, at Reverse Mortgage Funding they have a team of experts ready, willing, and able to answer any questions you may have.