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Leading Reverse Mortgage Wholesale Lenders utilize AppraiserLoft for Appraisal Services

By AppraiserLoft Team | April 14, 2023

Eight of the top ten Reverse Mortgage Wholesale Lenders use AppraiserLoft as a preferred appraisal management company.

AppraiserLoft has dedicated itself to work with the nation’s leading reverse mortgage wholesale lenders over the past few years.  

AppraiserLoft’s current client list includes many of the industry leading reverse mortgage wholesale lenders including: Financial Freedom/OWB, James B. Nutter and Company, Generation Mortgage, Urban Financial, Genworth Financial, LiveWell Financial, Security One Lending and 1st Mariner Bank.

“We made a strategic decision in early 2007 to enter the reverse mortgage industry with zeal, and we have been fortunate to build such strong relationships during this time, “ said Aman Makkar, AppraiserLoft's founder and CEO.   “The majority of real estate vendors were focused on the forward lending side due to the heyday of the real estate boom.  On the other hand, we studied demographics and reverse lending statistics and realized the market was fairly untapped and in an upward trend.“  

A reverse mortgage loan is only available to a specific type of borrower.  The two main criteria are the borrower must be at least 62 years old and have at least 50% equity in the home.  Interestingly, over half of reverse mortgage loans are to borrowers between the ages of 70 to 79.

“The reverse mortgage borrower has a unique profile, therefore we ensure the appraisal process is handled with specific concern for the senior and their experience with the appraiser,” said Shane Copeland, Senior Vice President - Director of Sales.   “Understanding the senior borrower as well as the reverse mortgage loan process has helped us provide a high level of service which has also reflected positively on the lenders that we represent.”

As the reverse mortgage industry continues to grow over the coming years, AppraiserLoft is well positioned to handle their clients demand during this period.
 

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