PHH Mortgage Launches Proprietary Reverse Mortgage Product
PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT), has launched EquityIQ®, a proprietary reverse mortgage product. This new offering targets homeowners aged 55 and above, providing a fixed-rate loan with a maximum amount of $4 million.
The product features include no upfront or ongoing mortgage insurance, no monthly servicing fees, and requires a full draw of available proceeds at closing. EquityIQ® complements PHH's existing Home Equity Conversion Mortgage (HECM) product line and will be available through the company's wholesale network under the Liberty Reverse Mortgage brand.
With an estimated $14 trillion in senior home equity, the product aims to help senior homeowners access their home equity for personal and financial needs. Eligible properties include single-family homes, condominiums, townhomes, multi-family properties (2-4 units), and planned unit developments.
PHH Mortgage, una filiale di Onity Group Inc. (NYSE: ONIT), ha lanciato EquityIQ®, un prodotto proprietario di mutuo inverso. Questa nuova offerta è rivolta ai proprietari di casa di età pari o superiore a 55 anni, offrendo un prestito a tasso fisso con un importo massimo di 4 milioni di dollari.
Le caratteristiche del prodotto includono l'assenza di assicurazione ipotecaria anticipata o continuativa, nessuna commissione mensile di gestione e la necessità di un prelievo completo dei fondi disponibili al momento della chiusura. EquityIQ® integra la linea di prodotti Home Equity Conversion Mortgage (HECM) esistente di PHH e sarà disponibile attraverso la rete wholesale dell'azienda sotto il marchio Liberty Reverse Mortgage.
Con un patrimonio immobiliare stimato di 14 trilioni di dollari nelle case dei senior, il prodotto mira ad aiutare i proprietari anziani ad accedere al valore della loro casa per esigenze personali e finanziarie. Le proprietà ammissibili includono case unifamiliari, condomini, case a schiera, immobili multifamiliari (2-4 unità) e sviluppi pianificati.
PHH Mortgage, una subsidiaria de Onity Group Inc. (NYSE: ONIT), ha lanzado EquityIQ®, un producto exclusivo de hipoteca inversa. Esta nueva oferta está dirigida a propietarios de viviendas de 55 años o más, ofreciendo un préstamo a tasa fija con un monto máximo de 4 millones de dólares.
Las características del producto incluyen la ausencia de seguro hipotecario inicial o continuo, sin cargos mensuales por servicio y requiere un retiro completo de los fondos disponibles al cierre. EquityIQ® complementa la línea de productos Home Equity Conversion Mortgage (HECM) existente de PHH y estará disponible a través de la red mayorista de la empresa bajo la marca Liberty Reverse Mortgage.
Con un patrimonio estimado en viviendas para personas mayores de 14 billones de dólares, el producto busca ayudar a los propietarios senior a acceder al valor acumulado de su vivienda para necesidades personales y financieras. Las propiedades elegibles incluyen casas unifamiliares, condominios, casas adosadas, propiedades multifamiliares (2-4 unidades) y desarrollos planificados.
PHH Mortgage는 Onity Group Inc. (NYSE: ONIT)의 자회사로서, 독자적인 역모기지 상품인 EquityIQ®를 출시했습니다. 이 신상품은 55세 이상 주택 소유자를 대상으로 하며, 최대 400만 달러 한도의 고정 금리 대출을 제공합니다.
제품 특징으로는 선불 또는 지속적인 모기지 보험료가 없고, 월별 서비스 수수료가 없으며, 클로징 시 이용 가능한 자금을 전액 인출해야 합니다. EquityIQ®는 PHH의 기존 주택 자산 전환 모기지(HECM) 상품 라인을 보완하며, Liberty Reverse Mortgage 브랜드로 회사의 도매 네트워크를 통해 제공될 예정입니다.
약 14조 달러에 달하는 고령자 주택 자산을 기반으로, 이 상품은 시니어 주택 소유자가 개인적 및 재정적 필요를 위해 주택 자산에 접근할 수 있도록 돕는 것을 목표로 합니다. 대상 부동산은 단독 주택, 콘도미니엄, 타운홈, 다가구 주택(2-4가구) 및 계획 개발 단지가 포함됩니다.
PHH Mortgage, une filiale de Onity Group Inc. (NYSE : ONIT), a lancé EquityIQ®, un produit de prêt hypothécaire inversé propriétaire. Cette nouvelle offre cible les propriétaires âgés de 55 ans et plus, proposant un prêt à taux fixe avec un montant maximal de 4 millions de dollars.
Les caractéristiques du produit comprennent l'absence d'assurance hypothécaire initiale ou continue, aucune frais mensuels de service, et exigent un retrait complet des fonds disponibles à la clôture. EquityIQ® complète la gamme existante de prêts Home Equity Conversion Mortgage (HECM) de PHH et sera disponible via le réseau de distribution en gros de la société sous la marque Liberty Reverse Mortgage.
Avec un patrimoine immobilier estimé à 14 000 milliards de dollars chez les seniors, ce produit vise à aider les propriétaires âgés à accéder à la valeur de leur logement pour des besoins personnels et financiers. Les propriétés éligibles incluent les maisons individuelles, les condominiums, les maisons en rangée, les immeubles multifamiliaux (2-4 unités) et les lotissements planifiés.
PHH Mortgage, eine Tochtergesellschaft von Onity Group Inc. (NYSE: ONIT), hat EquityIQ® eingeführt, ein firmeneigenes Umkehrhypothekenprodukt. Dieses neue Angebot richtet sich an Hauseigentümer ab 55 Jahren und bietet ein Festzinsdarlehen mit einem Höchstbetrag von 4 Millionen US-Dollar.
Zu den Produktmerkmalen gehören keine Voraus- oder laufenden Hypothekenversicherungen, keine monatlichen Verwaltungsgebühren und die Verpflichtung, die verfügbaren Mittel bei Vertragsabschluss vollständig abzurufen. EquityIQ® ergänzt die bestehende Home Equity Conversion Mortgage (HECM)-Produktlinie von PHH und wird über das Wholesale-Netzwerk des Unternehmens unter der Marke Liberty Reverse Mortgage erhältlich sein.
Mit einem geschätzten Senior-Hausvermögen von 14 Billionen US-Dollar zielt das Produkt darauf ab, älteren Hauseigentümern den Zugang zu ihrem Eigenkapital für persönliche und finanzielle Bedürfnisse zu erleichtern. Zulässige Immobilien umfassen Einfamilienhäuser, Eigentumswohnungen, Reihenhäuser, Mehrfamilienhäuser (2-4 Einheiten) und geplante Wohnanlagen.
- Expansion into proprietary reverse mortgage market with higher loan limits ($4M)
- No mortgage insurance or monthly servicing fees, reducing customer costs
- Access to $14 trillion senior home equity market potential
- Broader customer base with lower age requirement (55+)
- Product diversification beyond traditional HECM offerings
- Full draw requirement at closing limits flexibility for borrowers
- to primary residences only
- Ongoing costs for borrowers (taxes, insurance, HOA fees, maintenance)
Insights
PHH Mortgage expands its reverse mortgage portfolio with a proprietary product targeting higher-value properties and younger seniors, complementing its existing government-backed offerings.
PHH Mortgage's launch of EquityIQ® represents a strategic expansion of their reverse mortgage business. This proprietary product differs significantly from their existing government-backed Home Equity Conversion Mortgages (HECMs) in several key areas.
The new offering targets a broader demographic by lowering the minimum age to 55 years (versus 62 for traditional HECMs) and accommodates higher-value properties with loan amounts up to $4 million. By eliminating both upfront/ongoing mortgage insurance and monthly servicing fees, PHH has positioned this product to appeal to affluent seniors with substantial home equity.
The company is specifically targeting the senior home equity market, which they quantify at approximately
Distribution will occur through PHH's wholesale network under their Liberty Reverse Mortgage brand, indicating this is primarily a B2B offering rather than direct-to-consumer. This leverages their existing distribution channels and partnerships.
The executive statements from both the Chief Lending Officer and Chief Growth Officer frame this as an expansion opportunity that complements their existing reverse mortgage business. By offering both government-backed and proprietary products, PHH can now serve a wider range of potential borrowers across different property values and age brackets.
The product specifications - including fixed-rate structure, full draw requirement at closing, and eligibility for various property types - align with industry standards for jumbo reverse mortgages while maintaining key consumer protections like the counseling requirement.
WEST PALM BEACH, Fla., April 22, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that the Company has launched a proprietary reverse mortgage product known as EquityIQ®. The product will be available through the Company’s wholesale network and marketed under PHH’s reverse mortgage product brand, Liberty Reverse Mortgage.
“For more than two decades, we've leveraged our reverse mortgage expertise to help our partners and homeowners safely access reverse mortgage products and establish ourselves as an industry-leading reverse mortgage lender and servicer,” said Andy Peach, Executive Vice President and Chief Lending Officer. “We understand our customers' needs and the many benefits of a reverse mortgage. With an estimated
“Our release of the EquityIQ product is the latest example of how PHH continues to provide new opportunities for its partners to grow their businesses,” said Rich Bradfield, Executive Vice President and Chief Growth Officer. “We believe EquityIQ can be a valuable option for our wholesale partners and their clients, and we look forward to continuing to expand our product options to meet our customers’ needs.”
EquityIQ® Product Information
- Available to homeowners at least 55 years old (unless restricted by state law)
- Private (not insured by the Federal Housing Administration), jumbo reverse mortgage; allows homeowners to access more available funds as compared to a traditional HECM
- Fixed-rate loan with a maximum loan amount of
$4 million - No upfront or ongoing mortgage insurance and no monthly servicing fee
- Full draw of available proceeds required at closing
- Eligible property types include single-family, condominium, townhomes, multi-family property (2-4 units) and planned unit development
- All applicable parties must receive counseling from a PHH-approved housing counseling agency
- Available for primary residence only and borrower is required to continue paying property taxes, homeowners insurance, HOA fees and maintenance costs
For Information on becoming a wholesale partner please visit https://partner.libertyreversemortgage.com.
1 Source: NRMLA/RiskSpan Reverse Mortgage Market Index quarterly release as of March 31, 2025
About Onity Group
Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.
PHH Mortgage and Liberty Reverse Mortgage are equal housing lenders.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and “project” or conditional verbs such as “will”, “may”, “should”, “could” or “would” or the negative of these terms, although not all forward-looking statements contain these words, and includes statements in this press release regarding the anticipated benefits of the EquityIQ product to PHH’s wholesale partners and clients and the ability of PHH to continue expanding product options.
Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. In the past, actual results have differed from those suggested by forward looking statements and this may happen again. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, changes in market conditions, the industry in which we operate, and our business, the actions of governmental entities and regulators, developments in our litigation matters, and other risks and uncertainties detailed in our reports and filings with the SEC, including our annual report on Form 10-K for the year ended December 31, 2024. Anyone wishing to understand Onity Group Inc.’s business should review our SEC filings. Our forward-looking statements speak only as of the date they are made and, we disclaim any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise.
For Further Information Contact:
Dico Akseraylian, SVP, Corporate Communications
(856) 917-0066
mediarelations@onitygroup.com
FAQ
What are the key features of PHH Mortgage's new EquityIQ reverse mortgage product (NYSE: ONIT)?
How does PHH's EquityIQ differ from traditional HECM reverse mortgages?
What property types are eligible for PHH Mortgage's EquityIQ reverse mortgage?
What is the target market size for PHH's new EquityIQ reverse mortgage product?
