What is a Wells Fargo Reverse Mortgage Specialist?
Did you know that at Wells Fargo, the mortgage broker that focuses on Reverse Mortgages is referred to as a Wells Fargo Reverse Mortgage Specialist. Wells Fargo Reverse Specialist are available @ 877-291-4333M – F, 7 a.m. to 6 p.m., CT.
In order to be designated a specialist, not only must you own a license in your given state, but one must also complete substantial reverse mortgage training. With 7,000 loan officers on its payroll, Wells Fargo has seen plenty of originators who’ve made the switch to reverse products. About 75 percent of them successfully capitalize on the niche.
The Wells Fargo Reverse Mortgage Specialist differs from the traditional mortgage provider in several key areas. If you’re in underwriting and you move to the reverse market, be prepared to work with tools you haven’t used in a while: paper and pencil. “If you’ve underwritten traditional loans, the reverse mortgage is significantly easier, because there is no income, asset, credit, employment or asset requirement,” Antonio Moore explains. Instead, the loan is based on the borrower’s age and existing mortgage loans. “The reality is someone who has underwritten traditional loans will currently find the reverse mortgage somewhat frustrating. We don’t have a lot of the technology that the traditional market has created.”
Working for Wells Fargo in the Reverse Mortgage Department is demanding yet rewarding. I say this because as one of the biggest banks in America, job security is determined by performance and not as subject to layoffs and market changes.
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Wells Fargo Reverse Mortgage Department
The Wells Fargo Reverse Mortgage Department is not a national one, but rather a local one very similar to the retail banking arm of Wells Fargo. In fact there are several branches located throughout the country, but specifically in cities where Wells Fargo branches are located. Each Wells Fargo Reverse Mortgage Department offers the ability to accept loan applications right over the phone.
A few of the key departments that currently rank well in the search engines include:
Wells Fargo Reverse Mortgage Department
(503) 557-0500
14031 SE Rupert Dr, Milwaukie, OR 97267
Reverse Mortgage Department Of Wells Fargo
9530 SW 55th Ave
Portland, OR 97219-5052
(503) 246-3400
Zions Bank Reverse Mortgage
Zion Bank Reverse Mortgage Loans
General Information
Zions First National Bank is a subsidiary of Zions Bancorporation which operates through over 500 offices and 600 ATMs in 10 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. As a full-service bank, Zions offers commercial, installment and mortgage loans; trust services; foreign banking services; electronic and online banking services; automatic deposit and nationwide banking and transfer services; as well as the more familiar checking and savings programs.
Life seems to get more expensive every day. And, there’s no end in sight to the expenses. After all those years of house payments, yard work, and seemingly endless home improvements, isn’t it time to profit from that effort?
That’s where a Zions Bank Reverse Mortgage can save the day. It’s so flexible, you can completely tailor it to your own life – whether it’s extra income each month, or a handy line of credit for unexpected purchases. It’s the perfect way to get the extra money you need.
Enjoy Life The Way You Like
With a reverse mortgage from Zions Bank, you can have easy access to the equity reserve of cash you’ve built up in your home. As a result, you’ll have the funds to buy a new car, take that trip of a lifetime or anything else you have in mind.
Here’s the best news: You’ll still retain ownership of your home. Whether you choose later to sell it or stay in it for the remainder of your life, it’s totally your decision. Our reverse mortgage lets you keep your life just the way it is, only better.
Here’s How A Reverse Mortgage Works
They call it a reverse mortgage for a very good reason – it’s just opposite of buying a home. Here’s how: When you buy a home, you use a mortgage to turn your income into equity. With a reverse mortgage you turn your equity into income. You still retain ownership of your home. All it takes is a call to one of Zions Bank’s friendly loan officers. They’ll help you understand whether or not the reverse mortgage program is right for you. If it is, they’ll continue to help you every step of the way to make sure you’re 100% satisfied.
A Safe Way To Access Your Home’s Equity
For your safety and protection, reverse mortgages are insured and monitored by the federal government similar to a regular mortgage. We comply with federal laws and guidelines to ensure that our customers are completely protected.
In fact, a reverse mortgage is the safest of all mortgages – period! Remember, you retain the title of your property, you’ll never owe more than the value of your home and you’ll never outlive the loan or be obligated to make payments as long as you own and occupy the home. The U.S. Department of Housing and Urban Development guarantees it. You’ll also have the confidence of Zions Bank behind you. We’ve been helping people since 1873. We’re here to help you, too!
Fees & Charges
As with most mortgages, there are typical fees that apply to a reverse mortgage. Usually, these fees can be completely financed. Which means you won’t have to pay for them out of pocket. Once your Zions Bank Reverse Mortgage is in place, you won’t have to worry about any other fees or payments during the life of the loan.
Determining Eligibility
To participate in the Zions Bank Reverse Mortgage program, you and any joint borrower must be at least 62 years of age. You must own your home free and clear, or pay off any existing balance on your present mortgage. You can use a portion of the proceeds of your new reverse mortgage for this purpose. In addition, the home for which you’re receiving the reverse mortgage must be your principal place of residence. Call one of our loan officers for full details, and see if a reverse mortgage is right for you.
Work With A Bank You Can Trust
At Zions Bank we’re committed to helping you. We’re your local bank, and the people you’ll be working with are neighbors in your own community. When it comes to financial matters we’re a proven, safe choice