Specialized lending update: Reverse – pros and cons, OSFI, Alliance forms,

HomeEquity Bank on reverse mortgage pros and cons

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30 November 2021

HomeEquity Bank on reverse mortgage pros and cons The product type comes with unique advantages and drawbacks Client story: Bridging the gap with interim financing HomeEquity Bank's CHIP Open offered seamless solution for senior homeowner Mr. and Mrs. Shaw – Hamilton, ON - 103,000 The Shaw's found that their retirement savings weren't enough to fund the healthcare support required to age in place, despite having saved for years. Income Advantage was the solution. It allowed the Shaw's to access up to 55% of their home's value tax-free, helping them pay for in home health care support, so that they could age in place OSFI: Growing HELOC usage comes with considerable risk The superintendent said the rise of non-traditional products could substantially impact lenders Insurance fintech and Calgary brokerage cement alliance The partnership will allow consumers to find their desired mortgages and insurance rates simultaneously Growth through automation: how one firm supercharged its lending process How the tech product is driving a smoother origination and servicing process Toronto fintech rolls out reverse mortgage product for Ontario This marks the first time a fintech has entered the Canadian reverse mortgage market

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