EquityPower Private Reverse Mortgage
Nationwide Equities is excited to offer their wholesale partners a private reverse mortgage that can power up business—introducing EquityPower!
EquityPower can offer your clients higher loan limits, less costs, and more flexibility, while increasing your business and maximizing your profits!
Why choose EquityPower?
Frequently Asked Questions
EquityPower is our private reverse mortgage program, while ReversePower covers everything that falls under a traditional reverse mortgage or Home Equity Conversion Morgage.
A Home Equity Conversion Mortgage (HECM) is a traditional FHA reverse mortgage. The EquityPower reverse mortgage is our private reverse mortgage product that can exceed the benefits of a HECM. Here are some ways how:
- Can accept borrowers as young as 55 years old* (seven years younger than the HECM)
- EquityPower allows for higher loan limits leaving borrowers with more money than the HECM allows.
- EquityPower reverse mortgages do not charge any mortgage insurance premiums, which can save borrowers thousands each year!
- HECM’s require all condominiums to be FHA-approved, which can be extremely difficult to obtain. Condominiums that are not FHA-approved can still qualify for an EquityPower loan.
*North Carolina and Texas borrowers must be 62 or older.
Unlike other lenders, who can take WEEKS to review your paperwork before approving you as a wholesale partner, we can get you up and running in 24 hours or LESS!
After you’ve made initial contact, you will speak with a member of our wholesale team. They will send you our wholesale partner package directly and go over any questions you may have. Once we receive the completed version back, it will be reviewed by Senior Management. This can as little as one business day.
After you’ve been approved as a wholesale partner, you will receive logins to our LOS, ReverseVision, and can start submitting loans! You will receive a daily rate sheet and program updates as needed. You will also receive access to our partner portal, which you can find an archive of important bulletins, marketing materials, and more!
We can customize your wholesale training depending on your needs. We offer a unique customized wholesale experience that caters to anyone from reverse veterans to “forward” loan officers with the occasional reverse client.
On-demand training materials are useful guides will also be available for wholesale partners in their portal.