While other lenders have put restrictions on their reverse mortgage programs, Nationwide Equities is enhancing their EquityPower program and increasing its loan limits to $6 Million! Borrowers with jumbo home values can now access the highest loan limits in the industry by utilizing Nationwide’s private reverse mortgage, EquityPower.
“Our confidence that our economy will soon return, and return very strong is demonstrated by our increased loan limits,” says NWE CEO Paul Lamparillo.
NWE has seen particular success in high value areas including coastal California, as well as more inquiries based on the restrictions other lenders have recently placed, says company President Glenn Wallace.
“We are getting inquiries for higher values especially considering the other lenders have reduced their programs,” Wallace says. “And we are seeing a predominant amount of business in areas of California where the home values are high.”
EquityPower’s loan limit increase is sure to help those on the east coast as well, especially since the company announced its approval to conduct EquityPower business in New York.
To read Reverse Mortgage Daily’s article on this announcement, please visit this page.