Nationwide Equities launches ReverseReach tool to aid mortgage brokers

Nationwide Equities has introduced ReverseReach, a new tool designed to assist mortgage brokers and loan officers in uncovering reverse mortgage opportunities within their existing customer databases and referral networks, HousingWire reported.

The tool targets originators who may not specialize in reverse mortgages but have past customers who are older and equity rich, potentially qualifying for reverse mortgage products. It aims to make identifying these opportunities simple and efficient, even for those new to reverse mortgages.

ReverseReach allows mortgage professionals to input a borrower's financial and property details to quickly assess whether pursuing a reverse mortgage is worthwhile. It serves as a preliminary identification tool rather than a full underwriting engine.

Additionally, brokers can connect with a live underwriter through the program to discuss the file and explore potential loan structures, providing further support in the origination process.

Nationwide Equities has shifted focus towards proprietary reverse mortgage production, with recent data showing significant reverse mortgage originations and endorsements, including their private-label EquityPower product designed to offer higher loan proceeds than traditional Home Equity Conversion Mortgages.