ORANGE, Calif., Nov. 13, 2017 /PRNewswire/ -- All Reverse Mortgage® is pleased to introduce its new loan optimizer tool: ARLO™.
In October 2017, FHA changed the parameters by which reverse mortgage principal limits are calculated. The changes have influenced the reverse mortgage marketplace such that borrowers who shop for and find the best rates available will receive higher loan amounts. Today, savvy homeowners who seek competitive interest rates will not only accrue less interest on the money they borrow through a reverse mortgage, but they will also have more cash available to them via their initial line of credit under the new loan parameters.
To meet these needs, ARLO™ (All Reverse Loan Optimizer) was "born".
ARLO is the most sophisticated reverse mortgage consumer pricing engine currently available. It allows a prospective borrower to accurately receive quotes on a full array of reverse mortgage plans, and it includes everything needed to drill down to the best reverse mortgage for the prospective borrower's individual goals.
This web-based tool offers an industry-first, side-by-side amortization comparison, as well as interest rates and accurate closing costs for a prospective borrower's home—in real time!
ARLO can also show you which loan program performs best over time, whether it is a product that provides the greatest amount of funds or one that carries a lower outstanding loan balance after a set number of years. Because there are multiple amortization schedules available to borrowers from the start, they can see how a reverse mortgage line of credit will grow in each circumstance in order to weigh the costs and rewards of each one.
"ARLO helps borrowers by empowering them with the ability to make informed decisions with complete, accurate information in a side by side comparison of both current and future costs and benefits of different programs and options." -CEO Michael G. Branson
"I believe this is a win for the consumer, while also supporting the needed solvency of the reverse mortgage program. When a consumer secures a reverse mortgage loan with favorable rates, the homeowner will retain a greater equity position over the life of the reverse mortgage loan. This provides additional options for borrowers or their estate/heirs, mitigating additional risk to the FHA MMI fund," said Cliff Auerswald, president of All Reverse Mortgage®.
All Reverse Mortgage® is already seeing a substantial increase in conversions and has plans for ARLO's next release, in which the platform will integrate with the company's online application and credit approval processes.
All Reverse Mortgage® is a family owned reverse mortgage company based in Orange, Calif. All Reverse Mortgage receives roughly 40,000 monthly visitors to its website at https://reverse.mortgage/ and continues to innovate, educate and price lead. As reported by industry analyst Reverse Market Insight, All Reverse Mortgage® is a top-20 national lender with loan volume up 80% year-to-date.
All Reverse maintains an A+ exemplary rating by the Better Business Bureau and are proud members of the National Reverse Mortgage Lenders Association. As a NRMLA member we abide by a Code of Ethics & Professional Responsibility in which we pledge to serve all borrowers with integrity.
All Reverse Mortgage
SOURCE All Reverse Mortgage