Reverse Market Insight (RMI) has expanded its Reverse Qualifier tool to model Smartfi Choice proprietary reverse loans, allowing users to track proceeds, costs, and compensation alongside Home Equity Conversion Mortgages (HECMs). The integration brings a new layer of comparison for lenders and borrowers evaluating non-government-backed options.
Smartfi Choice, a proprietary reverse mortgage product, now appears within the same analytical framework as federally insured HECMs. This gives originators the ability to run side-by-side scenarios on loan amounts, fees, and payout structures without switching platforms.
The expansion reflects a growing push for technology that simplifies reverse mortgage shopping. As proprietary products gain traction among homeowners with higher home values, tools like RMI's could accelerate adoption by making cost and benefit trade-offs more transparent.
For lenders, the update reduces manual calculation time and standardizes compliance checks across product types. Borrowers, however, still depend on originators to present these comparisons accurately — a dynamic that consumer advocates say requires ongoing oversight.
Some industry observers caution that adding proprietary products to qualification tools may inadvertently steer borrowers toward options that maximize lender compensation rather than borrower benefit. RMI has not disclosed whether its tool highlights such conflicts of interest.