Longbridge’s Chris Mayer on reverse mortgage ideas abroad
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As refi market dries up, equity products continue to drive business for brokers
“We pay up to 2 1/2 points on our HELOCs,” he said. “We recently enhanced our HELOC to allow up to a $1 million HELOC, and 2.5% on a $1 million deal, that’s $25,000. You do four of those, that’s $100,000 a year.” He noted that homeowners are sitting on approximately $35 trillion in home…
