SecureEquity+
is
the
company’s
initial
entry
into
the
proprietary
reverse
channel,
which
offers
expanded
borrower
eligibility
guidelines
compared
to
the
federally
insured
Home
Equity
Conversion
Mortgage
(HECM).
The
product
is
available
to
borrowers
as
young
as
55
in
states
that
allow
for
it,
and
loan
amounts
range
up
to
$4
million.

“SecureEquity+
represents
a
significant
milestone
in
Mutual
of
Omaha
Mortgage’s
ongoing
commitment
to
empowering
older
homeowners
with
innovative
financial
solutions,”

Alex
Pistone,
president
of
Mutual
of
Omaha
Mortgage’s
reverse
division,
said
in
a
statement.

“We’re
proud
to
lead
the
reverse
mortgage
industry
with
a
product
that
delivers
greater
flexibility,
broader
access
and
more
opportunity,
helping
older
Americans
take
control
of
their
financial
future
with
confidence.”

Similar
to
traditional
reverse
loans,
SecureEquity+
offers
eligible
borrowers
the
ability
to
convert
a
portion
of
their

home
equity
into
cash
without
monthly
mortgage
payments.
The
borrower
must
occupy
the
home
as
their
primary
residence
and
continue
to
meet
other
financial
obligations
such
as

property
taxes,

homeowners
insurance,
HOA
fees
and
ongoing
maintenance
costs.

Mutual
of
Omaha
is
the
nation’s
largest
lender
in
terms
of
HECM
endorsements.
According
to

data
from

Reverse
Market
Insight,
it
endorsed
6,076
HECM
loans
for
the
year
ending
in
June.
It
was
also
No.
1
on

last
month’s
industry
leaderboard
with
554
loans.

Its
entry
into
the
proprietary
market
joins
a

recent
push
by
other
companies,
including

Finance
of
America,

Longbridge
Financial,

Nationwide
Equities,

Smartfi
Home
Loans
and

University
Bank.