Longbridge, PHH, Mutual of Omaha unveil new reverse liens

With tappable home equity near historic highs and a preference among a majority of baby boomers to remain in their homes, several reverse mortgage lenders have recently launched products to capture the greater opportunity in this part of the market.  

Demographic trends suggest a market primed for growth and current interest rate levels also make home equity loans appealing. The National Reverse Mortgage Lenders Association found tappable equity among homeowners 62 and older stood at almost $14 trillion at the end of 2024. At the same time, over two-thirds of the baby boomer generation born between 1946 and 1964 indicated they hope to age in place, according to Freddie Mac research, prompting businesses to turn their attention to the reverse mortgage market.  

While the Federal…