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SmartFi targets forward loan officers to expand reverse mortgage adoption
SmartFi partnered with Reverse Mortgage Insight to integrate its Choice proprietary program into RMI’s tech platform, aiming to bring reverse mortgages to a wider originator audience.
SmartFi Home Loans is pursuing reverse mortgage growth by shifting beyond the industry’s traditional reliance on reverse specialists, according to HousingWire. The lender says it wants to “grow the pie” by equipping forward-centric loan officers with the tools and education to offer reverse mortgages to clients.
SmartFi is targeting forward loan officers while continuing to support reverse-focused originators, using technology to simplify the origination process for newcomers. As part of that push, the company is integrating its Choice proprietary reverse mortgage program into Reverse Mortgage Insight’s platform through a recent partnership.
HousingWire reports SmartFi’s approach also includes building an internal partner portal designed to help forward loan officers run reverse mortgage numbers quickly and understand the product mechanics for borrowers. SmartFi’s Kim Smith, senior vice president of wholesale lending, said reverse mortgages are structured so rates can be less impactful than in traditional forward mortgages.
Smith also tied growth potential to SmartFi’s proprietary program, saying Choice in the current rate environment can offer higher loan amounts than the traditional HECM program. She added that, while the reverse mortgage market does not appear to have a demand problem, the company sees distribution and education gaps it is trying to close.