"In the last year, we saw the number of traditional loan officers that participate in reverse go up by 60% year over year. We had to scale the entire platform, from the LOS to the CRM."
"We have a full suite of reverse products and all of the mainstay, proprietary products that are available in the marketplace. We offer all of them on a nondelegated principal agent basis."
"We're gaining share; in March we were 100 basis points better on market share, probably one of the fastest-growing lenders. So we're pretty happy with the progress, but we have a ton of work to do."
In the past 18 months, Rate has transformed its reverse mortgage division from a passive operation to a growth-focused business. The company doubled its business in 2024 compared to the previous year. Training traditional loan officers led to a 60% increase in participation in reverse mortgages. Rate has scaled its platform and improved market share significantly. The company offers a full suite of reverse products through strong relationships with multiple investors, focusing on 55-plus lending without developing proprietary products.
Read at www.housingwire.com
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