Partner Post | April 2022 | RMF

Partner Post | April 2022 | RMF

Y E A R 1 | V O L 1 | A P R I L 2 0 2 2 PARTNER PPoosst R E V E R S E M O R T G A G E F U N D I N G P A R T N E R N E W S L E T T E R

877-820-5314 | PARTNERS.REVERSEFUNDING.COM

CALENDAR OF EVENTS

Monday, April 4th Reverse Mortgage 101 - 11:00am ET

Tuesday, April 5th Qualifying the Reverse Mortgage Borrower: Credit Analysis - 11:00am ET

Wednesday, April 6th Tango Reverse Basics 12:00pm ET

Thursday, April 7th HECM for Purchase Origination - 2:00pm ET

Monday, April 11th Expanding your HECM for Purchase Business 2:00pm ET Tuesday, April 12th Everything you need to know about non-Borrowers - 1:00pm ET Wednesday, April 13th Understanding Income Shortfalls and Unsatisfactory Credit 11:00am ET Thursday, April 14th The Math Behind the HECM - 2:00pm ET Monday, April 18th All About Equity Elite - 11:00am ET Tuesday, April 19th Qualifying the Reverse Mortgage Borrower: Income Analysis - 11:00am ET Wednesday, April 20th All You Want to Know About LESAs - 11:00am ET Thursday, April 21st When the Deal is Not Plain Vanilla - 12:00pm ET

WELCOME

A Message from Reverse Mortgage Funding…

Hello and thank you for checking out the inaugural edition of what will be a regularly appearing publication from your friends here at Reverse Mortgage Funding's (RMF) wholesale division. Each month, we’ll deliver insightful articles, sales tips, industry news and other content aimed at helping you expand your reverse mortgage business. Whether you’re an industry veteran or new to offering reverse mortgages, count on us to deliver fresh content that’s relevant to originators working with the older homeowner demographic.

Monday, April 25th Reverse Mortgage 201 - 10:00am ET

We love feedback, so please share your thoughts, as well as any ideas you may have for topics you’d like us to cover in future editions. Enjoy!

Tuesday, April 26th Selling a Solution - 2:00pm ET Wednesday, April 27th HECM Product Overview - 11:00am ET Thursday, April 28th If You’re Talking Too Much You’re Losing - 11:00am ET

Mark O'Neil National Sales Leader

Partner Training Calendar

PARTNER POST

THE POWER OF REVERSE MORTGAGES: BE YOUR CLIENTS ’ SUPERHERO

For many , personal heal th has jumped to the top of the pr ior i ty l i st as we cont inue to nav igate the pandemi c . Yet the cost of heal th- related care — espec ial l y as we age — can be daunt ing. Bes ides doing al l they phys i cal l y can do to stay heal thy , your older c l ients al so need heal thy f inances to sustain a comfor table ret i rement . What i f you could help f ind a way to manage thei r debt , supplement a f i xed income and l i ve a more rewarding l i festy le af ter they leave the workforce? Older homeowners have more than $10 tr i l l ion in equi ty locked in thei r homes . But i t ’ s poss ible they ’ ve never heard of a reverse mor tgage or s impl y lack an understanding about how i t works . Change the course of thei r ret i rement ! By shar ing the benef i ts of reverse mor tgage loans , you could help ease some of thei r f inanc ial worr ies to enjoy happier , heal thier ret i rement years .

Keep reading for ideas how to make that happen.

PARTNER POST

REVERSE MORTGAGES AND YOUR CLIENTS’ HEALTH WHAT ’ S THE CONNE C T I ON ?

Large medical bills Medical prescriptions In-home or long-term care Home modifications to safely age in place The purchase of a new home to better fit their changing needs, and so much more By leveraging their home equity, they can reduce the burden of healthcare costs and ensure that funding is there if and when they need it to cover:

Did you know that out-of-pocket health costs for older Americans covered by Medicare will consume up to 50% of the average Social Security income by 2030? And considering all the health-related variables that are beyond our control, this creates a challenge for older Americans who are crunching the numbers to figure out a realistic retirement savings to cover healthcare costs.

Determining what’s “enough” depends largely on their plans:

Are they relying on family members to provide care? Can they afford nursing home care? Would they rather have in-home care as they age? Do they have long-term care insurance to supplement their Medicare coverage? Many individuals will find themselves in need of a viable financial solution — and a reverse mortgage loan can help.

The monthly median cost of a home health aide: $5,148

Find out why home health aides are in such high demand.

The means to age with one less worry

Seventy-five percent of adults age 50+ want to remain in their home through retirement. A reverse mortgage from RMF can be a game- changing financial tool for older homeowners who want to age in place.

Click HERE to play video

REVERSE INSIDER PARTNER PO T

Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and support in their remaining years. HELP CLIENTS WEAVE HOUSING WEALTH INTO THEIR FINANCIAL PLAN

Even in the best of times, taking steps to prepare for retirement isn’t easy. Add in the COVID-19 crisis, and planning for the next phase can get even more difficult.

The economic fallout of the pandemic — job loss, volatile financial markets and low interest rates — has left many people feeling financially insecure. Help your clients adjust their financial strategy to cover their future needs, while tapping into a new avenue to grow your business! Even with a well-planned budget, the unexpected can happen. According to Genworth, the monthly median cost of a home health aide is $5,148. With a reverse mortgage loan, there’s not necessarily a need for your client to spend down their savings or draw on invested assets to afford the services they need *. Though Medicare may cover part of the costs for at-home medical care, it doesn’t reimburse families for personal care. And unlike Medicare supplemental insurance, there are no restrictions on the number or type of services provided to reverse mortgage borrowers, including:

Meal preparation House cleaning Dressing, bathing and grooming assistance Transportation The management of daily medications Companionship

Reverse mortgages have the potential to dramatically improve the quality of life of your clients. And at RMF, we’re the experts in the reverse mortgage industry. Reach out to your Account Executive with any questions on how to expand your client base with this unique opportunity. Reverse Mortgage in Action! MarketWatch’s “Help Me Retire” section highlights ordinary people struggling with how to make ends meet in retirement. A recent submission showcases a good use case for a reverse mortgage!

Read about it here.

PARTNER POST

3 TIPS TO EXPAND YOUR VISIBILITY IN THE HEALTHCARE SECTOR

Fol low these t ips to bui ld more bus iness in the heal thcare space:

Ask to leave your card and some market ing mater ial s at the f ront desk of these fac i l i t ies in your area. Of fer to speak wi th indi v idual s who may need help planning out payment opt ions . (Note: the home secur ing a reverse mor tgage must be the pr imary res idence of el igible borrowers . An extended nurs ing home stay may therefore impact el igibi l i ty) . Volunteer your expert ise to local rehabi l i tat ion faci l i t ies . Rehabi l i tat ion i s a cruc ial par t of recovery , but al so very cost l y . And in most cases , the need for these serv i ces i s unexpected, leav ing indi v idual s unsure of how to pay for necessary t reatment . Int roduce yoursel f and your bus iness to the in- take or of f i ce manager . Make sure they have your contact informat ion on hand when di scuss ing poss ible payment opt ions wi th pat ients . Be avai lable to f ield cal l s and even meet wi th pat ients .

Develop a relat ionship wi th your local hospi tal . Many have a home heal thcare di v i s ion that aids in set t ing up shor t - and long- term care plans . For fami l ies , the costs can be overwhelming. What can you do? Become a reference point for the hospi tal , of fer your serv i ces and help tal k pat ients through how a reverse mor tgage can al lev iate some of thei r f inanc ial st ressors . Work wi th local nursing homes . Many pat ients seek nurs ing home serv i ces af ter a prolonged hospi tal stay , acc ident or chroni c i l lness . Al though many nurs ing homes of fer except ional care, the high costs can be overwhelming — wi th an average annual cost of $92,376 for a pr i vate room.

If you need help creating materials for ventures like these, our Marketing Materials Library already has a flyer that you can personalize for your business, and so much more. Reach out to your Account Executive to discuss other possible marketing options.

Getting involved with groups within an industry is a great way to network. Here are some in the home healthcare space to consider: · National Association for Home Care & Hospice · Home Care Association of America · Home care associations in your state

PARTNER POST

Great news ! Research shows that broadening reverse mor tgage el igibi l i ty to borrowers age 55 or older in select states has increased the market oppor tuni ty by 2.7 mi l l ion el igible households . That ’ s why we ’ ve expanded el igibi l i ty wi th our innovat i ve Equi ty El i te sui te of products , avai lable exc lus i vel y f rom RMF as the lender . Since 1961, t radi t ional reverse mor tgages , al so known as Home Equi ty Convers ion Mor tgages (HECMs ) , changed the game for homeowners who wanted to leverage thei r valuable home equi ty . But HECMs have l imi tat ions on who can borrow, how much and whi ch proper t ies are el igible. THE REVERSE MORTGAGE MARKET HAS EXPANDED! GET MORE CLIENTS ON BOARD WITH EQUITY ELITE® † ® ‡

PARTNER POST

Wi th RMF ’ s propr ietary product , you can expand your bus iness even fur ther wi th Generat ion X, of fer ing f lex ible reverse mor tgage opt ions to homeowners searching for addi t ional sources of funds as they approach ret i rement . And we do i t wi th honesty and integr i ty , prov iding helpful , turn-key guidance and peace of mind throughout the whole lending process . What sets Equi ty El i te® apart? I f you have c l ients age 55 or older in select states who own or are planning to purchase a home, Equi ty El i te® may al low them to tap into more of thei r home ' s equi ty , sooner rather than later , and wi th lower upf ront costs and fewer rest r i ct ions .

El igibi l i ty begins at age 55 in select states . Unl i ke the HECM, Equi ty El i te® i s avai lable to homeowners as young as age 55, depending on where they l i ve. Access to more funds . Equi ty El i te® borrowers can access up to $4 mi l l ion in home equi ty§ — so i t can be more sui table for those wi th higher -valued homes . Lower upfront costs . Equi ty El i te® has no upf ront or ongoing mor tgage insurance premium, whi ch can mean lower c los ing costs than a HECM. Equi ty El i te® ZERO. A s i ster product , Equi ty El i te® ZERO of fers the benef i ts of Equi ty El i te® but of fers a lender credi t to be appl ied towards most c los ing costs . More condos qual i fy. In cont rast to HECMs , Equi ty El i te® i s avai lable to owners and buyers of non-FHA-approved condos , whi ch expands c l ient el igibi l i ty . Gain a compet i t i ve edge in the market and wr i te more bus iness . RMF i s dedi cated to get t ing loans processed qui ck l y and seamless l y wi thout cut t ing any corners . Contact your Account Execut i ve to get star ted. Here ’ s a recap of key di f ferences between a t radi t ional reverse mor tgage and Equi ty El i te®:

Stay up-to-date on all things home healthcare related by subscribing to HOME HEALTHCARE NOW, THE INTERPROFESSIONAL JOURNAL FOR HOME ARE AND HOSPICE CLINICIANS, click here to sign up or explore the latest issues in home healthcare.

PARTNER POST

ALL THE MARKETING RESOURCES YOU NEED TO SUCCEED WITH REVERSE MORTGAGES

Our range of support materials can help you educate prospective borrowers, as well as business professionals who work with older adults. Log in to the portal to check them out.

Professionally-designed marketing materials that can be customized with your company name and contact info, including flyers, postcards, brochures and seminar kits Training and tip sheets designed to help you build lead-generating relationships with financial advisors, builders and realtors Training on ethical advertising practices, including guidance from the National Reverse Mortgage Lenders Association (NRMLA) “dirty dozen” unethical practices to avoid Marketing materials and tips exclusively for banks and credit unions High-quality videos geared to help your audience better understand the HECM products you offer As an approved RMF partner, you have access to a wide range of effective marketing tools and strategies that can give you a competitive edge, including: Reverse mortgages are growing even more attractive to potential borrowers! Starting January 1, 2022, the highest maximum claim amount for Home Equity Conversion Mortgages (HECMs) has increased to $970,800. With the HECM limits increasing, we’ve updated the Marketing Materials Library on our Partner Portal to better support you in promoting yourself, your business and reverse mortgages.

Visit https://partners.reversefunding.com/ to learn more.

Ready for Next Month's Partner Post? You can expect to find it in your email inbox in early May. Thank You for Reading!

Equity Elite Reverse Mortgage (“Equity Elite”) is Reverse Mortgage Funding LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Equity Elite is available to qualified borrowers who also may be eligible for FHA’s HECM program or are seeking loan proceeds that are higher than FHA’s HECM program limit. Equity Elite currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state. Upon a maturity event, any non-borrowing individuals with an ownership interest in the property, including non-borrowing spouses, will have a short period of time (for example, 30 days from a due and payable letter or an alternate time specified by the loan servicer if extensions are available under the circumstances) to purchase the property from the estate or, if the non-borrower inherits the property, pay the loan in full using any sources of funds available to them. Any non-borrowing individual, including a non-borrowing spouse, should have a plan to pay off an Equity Elite reverse mortgage upon the borrower’s death or any other maturity event. If the non-borrower is unwilling or unable to purchase the property or pay the loan in full, there is no protection for the non-borrower (including a non-borrower spouse) to maintain an interest in the home or to continue residing in the home past the maturity event and the non-borrower may be evicted upon foreclosure. The FHA HECM program has protections in place for certain non-borrowing parties, so a reverse mortgage applicant with certain non-borrowing parties should strongly consider a FHA-insured HECM loan (see HECM guidelines or ask an RMF representative for details). Under the Equity Elite reverse mortgage loan program, a maturity and/or default event occurs when the last surviving borrower no longer lives in the home as his or her primary residence for at least 12 months, the property charges (including taxes, insurance, or any other property charges) are not paid, required repairs are not completed or the property is not maintained, or any other maturity and/or default event, as specified in the Security Instrument, occurs. *As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance and maintenance.

NOT FOR CONSUMER US E .

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