What We Do - American Pacific Reverse Mortgage

Direct Lending
Education
Turnkey Processing
Follow up support

We are a direct lender and that structure allows us access to an array of options; this provides for better control of the total process and allows us to better guide you along the way.

One of the more important aspects of being a Mortgage Loan Originator is to fully understand each client’s unique situation. If this is the case, we aim to direct our client to other resources that may be better suited to them and their unique circumstance.

We do the “heavy lifting”. We work closely with our clients to make sure that the process is done correctly and as seamlessly as possible. In this area there is nothing like the experience and level of service that our team brings!

Once you receive your funds we are here to answer any questions and to help if any problems or further questions should arise. It is our job to be consistently “in the loop” when it comes to our products and your satisfaction.

Reverse Mortgages have helped thousands of seniors remain in their homes and create a more solid financial foundation. At APRMG we make it as easy as possible for you to obtain a Reverse Mortgage that works for you. We are here for you every step of the way, helping you understand and customize a loan that meets your unique situation. We know this type of decision can at times be overwhelming; we encourage you to seek advice and counsel from those you trust, whether it be family, an attorney, a financial planner, a tax specialist or other trusted professional. The following steps are here to help guide you and give you an idea of what to expect throughout the process of obtaining a reverse mortgage.

The Steps to Obtain a Reverse Mortgage

Our passion is education. One of the more important aspects of being a mortgage loan originator, is to fully understand each client’s unique situation. Whether a Reverse mortgage is right for you, we aim to direct out client to other resources that may be better suited to them and their unique circumstance.

Counseling sessions generally take 1-2 hours and are done over the phone.

Upon completion of Reverse Mortgage counseling, it is time to schedule an appointment with one of our knowledgeable Reverse Mortgage Specialists who will guide you through the paperwork package. The application can be done in person with a Reverse Mortgage Specialist or via mail.

Once we have received your signed and dated counseling certificate and have completed the application process, we will coordinate for an appraiser to go out to your home. The appraiser will follow a process to determine the value of your home. At this time we also open escrow to order a title report and ensure that there are no Federal or State tax liens on the property. It usually takes 1-2 weeks to receive a completed appraisal and title report.

Once we have received all of the preliminary reports, inspection reports, and reviewed the loan package for completeness and compliance, we submit the loan for review and approval from the underwriter (the person who approves the loan). The underwriter then goes into a review process and may request further documentation.

When your loan receives a final approval we will set up a signing appointment at the Title Company or a Mobile Notary who will go to a location convenient to you. Signing the final loan documents takes about an hour. Once the documents are fully executed they will be returned to APRMG for funding. By law, refinance loans have a three-day right of rescission to cancel the loan. After the three-day “waiting” period, funds are disbursed and recorded with your County.