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Market Opportunity
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Indymac Bank is proud to offer you a full line of Reverse Mortgage products.
With over 36 million senior homeowners and over $3 Trillion in available home equity, adding this product
to your offering will help you rapidly expand your opportunities and create new sources of revenue.
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Customer/Consumer Benefits:
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Pay off existing liens or mortgages − eliminate monthly obligations
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Provide additional monthly income for medical expenses and home repair
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Create a cash reserve for emergencies or special needs
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Can be used for estate planning and wealth management
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Features:
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Borrowers retain full ownership of their home
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No income, asset, or employment requirements
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No monthly payments required. Repayment is not required until the last remaining borrower passes away or no longer occupies the property as his/her primary residence
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Proceeds are tax-free income1 that can be payable as monthly
payment, lump sum, line of credit, or any combination of these options
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Loan origination and closing costs may be financed into the loan
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Non-recourse loan means borrower(s) will never owe lender more than the appraised value2 of the home
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When the loan is repaid, all remaining equity will go to the borrower
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Determining Loan Amount
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Loan proceeds available to the borrower are based on:
· Age of homeowner(s)
· Home value or FHA regional limit
· Current interest rates
· Regional location of home
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Click here to find out how to submit Reverse Mortgage loans.
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If you are an approved Indymac customer and would like to originate Reverse Mortgages, complete our short
Reverse Mortgage Request and an Indymac Representative will contact you.
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If you are new to Indymac and are interested in becoming an approved customer, click here to begin the process.
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NOTE: You must be trained and certified to begin transacting reverse mortgages. For questions regarding training, contact your Indymac Bank Sales Professional.
You can locate their name and contact information by logging into e-MITS and viewing the "My Personal Sales Contact" box at the top of each page. |
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View our FAQs if you have any additional questions regarding Reverse Mortgages.
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