HousingWireHousingWire
The current reverse mortgage industry market leader, Mutual of Omaha Mortgage, announced on Tuesday that it has launched a new proprietary reverse mortgage product, with initial availability in California and Florida.
The product line, known as SecureEquity, is available to homeowners as young as age 55. It offers adjustable- and fixed-rate options with a maximum loan amount of $4 million. This is roughly in line with other proprietary product offerings in the space from companies such as Finance of America (FOA), Longbridge Financial, University Bank, Smartfi Home Loans and Nationwide Equities.
“At Mutual of Omaha Mortgage, we understand the diverse financial needs of our clients,” said Alex Pistone, president of the company’s reverse division. “With SecureEquity, we are thrilled to introduce a product that not only reflects our commitment to our clients but also extends Mutual of Omaha’s legacy of trust built over 116 years.
“SecureEquity allows us to serve our clients beginning to end; from origination to servicing, ensuring a seamless experience.”
Terms of the product are broadly similar to those that govern the Federal Housing Administration‘s Home Equity Conversion Mortgage (HECM) loan. The borrower must remain in the home as their primary residence and continue paying property taxes, homeowners insurance, HOA fees and maintenance costs to keep the loan in good standing.
Following an initial consultation, the borrower can proceed to the application and qualification process. They must have the home appraised to determine a final loan amount in excess of FHA limits, and can then proceed to loan closing and funding. Monthly payments are not required for the product.
HousingWire’s Reverse Mortgage Daily (RMD) reached out to representatives of Mutual of Omaha Mortgage but did not receive a response.
In October 2024, the company also launched a broker protection program that offers company-approved brokers and principal agents with access to five core protections.
This includes a promise that the lender “will not solicit borrowers established within the broker network.” It will also exclude broker-network borrowers from the company’s outbound marketing campaigns.
In 2024, Mutual of Omaha became the leading HECM lender in the country on a per-unit basis. The company recorded 6,224 HECM endorsements in the 12-month period ending in February 2025, according to data compiled by Reverse Market Insight (RMI).
