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Equitable Bank Enhances Reverse Mortgage Process
Equitable Bank Enhances Reverse Mortgage Process Canada NewsWire TORONTO, Jan. 1...
About this update from Eqb Inc
[{"type":"text","content":"\n\n\n\nEquitable Bank Enhances Reverse Mortgage Process\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 14, 2020\n\n\n\nMakes Closing Process Significantly Easier and Less Expensive for Customers\n TORONTO, Jan. 14, 2020 /CNW/ - Today, Equitable Bank, Canada's Challenger Bank™, a wholly owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C) announced the launch of a new reverse mortgage closing process. \nThe result is a far more efficient process that maintains the integrity clients expect, but at a fraction of the cost and time. Borrowers will no longer need to retain two lawyers to close an Equitable Bank Reverse Mortgage. In this new process, clients in Alberta, British Columbia and Ontario can have Equitable Bank work directly with their independent lawyer to verify identification, register and fund the mortgage. \n\"At Equitable we continually challenge ourselves to find better ways to bring more value to our customers by removing complex and unnecessary traditional banking practices,\" says Paul von Martels, VP of Prime and Reverse Mortgage Lending, Equitable Bank. \"It's our ambition to bring the reverse mortgage solution into the retirement financing mainstream. Innovating the customer's experience and reducing the costs to originate are important steps in that journey.\"  \nReverse mortgages are becoming more mainstream in financial planning conversations for Canadian seniors. This is a logical outcome of an aging population seeking to access a primary source of wealth from home equity—to meet their financial, social, and health needs. As one of only two banks offering reverse mortgages, Equitable Bank's approach to this increased demand has been to make reverse mortgages more attractive to Canadians, through a combination of lower rates and better product features. And now, with an even more efficient process, Equitable Bank anticipates a growing number of Canadians using their home equity to age in place, comfortably.\nVisit https://www.equitablebank...