Results to be revealed at International Builders’ Show® (IBS),
BLOOMFIELD, N.J.–(BUSINESS WIRE)–Reverse Mortgage Funding LLC (RMF), a leading lender of FHA-insured1
Home Equity Conversion Mortgages (HECMs), today announced it will
sponsor a National Association of Home Builders’ (NAHB) survey titled,
“Housing Preferences of the Boomer Generation: How They Compare to Other
Home Buyers.” The results of the survey will be presented at the NAHB
International Builders’ Show® (IBS) scheduled to take place from January
19–21, 2016 at the Las Vegas Convention Center.
“This survey will provide a unique look at the buying preferences of our
core customer, and serving as a title sponsor will help strengthen our
brand awareness among the conference’s participants, which include many
of the nation’s largest, most respected homebuilders as well as leading
economists and personal finance professionals,” said Jean Noble, Chief
Marketing Officer of RMF. “Our presence at this marquee event will serve
to help these parties understand and appreciate how a Home Equity
Conversion Mortgage for Purchase loan can increase the buying power of
older Americans, providing them with the financial flexibility to
purchase the home they really want, including the amenities they need or
HECM for Purchase, nicknamed “H4P,” is a federally insured loan program
specifically designed to help people age 62 and older purchase a new
primary residence that better fits their needs. With an H4P loan, older
Americans have the flexibility to purchase a new home by combining a
one-time investment of available funds—typically about half the purchase
price—with the loan’s proceeds to complete the transaction. The home the
buyer purchases secures the H4P loan, which does not require monthly
mortgage payments2 throughout its life. Interest and fees are
simply added to the loan balance so that it increases over time, rather
than decreasing.3 The borrower can also make partial
prepayments in any amount at any time without any pre-payment penalty.
“With an H4P loan, homeowners are no longer forced to live in a
residence or location they have outgrown,” added Ms. Noble. “This
program provides older Americans with the freedom to relocate to a new
home of their choosing – whether it’s closer to their family and
friends, easier to maintain, or in a climate that better suits their
lifestyle – without having to tap into their nest egg.”
The survey will be conducted online in two phases using a consumer
research panel maintained by Home Innovation Research Labs, a
wholly-owned, independent subsidiary of the NAHB. The first phase will
use screening questions to identify recent home buyers (who purchased a
home in the last three years) and prospective home buyers (those
expecting to buy a home in the next three years). The second phase will
involve a detailed questionnaire sent to the recent and prospective
buyers identified in phase one.
1 This material has not been reviewed, approved or
issued by HUD, FHA or any government agency. The company is not
affiliated with or acting on behalf of or at the direction of HUD/FHA or
any other government agency.
2Borrower is responsible for property taxes,
homeowners insurance and property maintenance. A HECM is a home-secured
debt payable upon default or a maturity event.
3An H4P loan becomes due when the last borrower
passes away; if the homeowners decide to sell the home; if the borrowers
leave the home for 12 consecutive months; or if the homeowners fail to
pay property taxes, homeowners insurance, any homeowners association
fees, and for the upkeep of the property (default events).
About Reverse Mortgage Funding LLC
Reverse Mortgage Funding LLC (NMLS ID #1019941) was established in July
2012 and is led by industry veterans Craig Corn, Robert Sivori, and
David Peskin. These executives have an average of more than 15 years of
experience in building and, most importantly, growing firms in the
industry. The company is headquartered in New Jersey, with corporate
offices in New York and California and field offices throughout the U.S.
Learn more by calling (877) 820-5314 or visiting www.reversefunding.com.
For Reverse Mortgage Funding LLC