And Do Holdings Co., Ltd. Notice of Reverse Mortgage Guarantee Balance Exceeding 10 Billion Yen

And Do Holdings Co., Ltd.
Announcement of Reverse Mortgage Guarantee Balance Exceeding 10 Billion Yen
Financial Do Co., Ltd. (Headquarters: Osaka City, Osaka Prefecture), a consolidated subsidiary of And Do Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Masahiro Ando; hereinafter referred to as the Company), which operates a nationwide real estate business under the House Do brand , President and CEO: Kazuaki Tomita, hereinafter referred to as Financial Do) is pleased to announce that the balance of guarantees for reverse mortgage guarantees for financial institutions has exceeded 10 billion yen as of the end of September 2022.
[Image 1

Financial Do began full-fledged collateral evaluation and debt guarantee services for reverse mortgages in October 2017, and as of the end of September 2022, the guarantee balance was 10,002 million yen. In addition, we have partnered with 40 financial institutions such as banks and credit unions, and reverse mortgages guaranteed by Financial Do are available nationwide. We believe that such an expansion of the usage environment is increasing awareness of reverse mortgages among those seeking funds, leading to the promotion of their use.
In-house survey reveals anxiety about retirement funds among seniors According to the “Survey on housing and money after retirement” (June 2022, And Do Holdings Co., Ltd.) conducted by our company for the general public aged 50 and over nationwide, about 50% of seniors (aged 65 and over) I understand that there is anxiety about “living funds after retirement”.
[Image 2

Also, in another question, “Ideal and Reality of Retirement Funds”, the most ideal amount of retirement funds for homeowners was in the 10 million yen range, but the actual amount that is currently available is less than 10 million yen. This is the highest number, and it can be seen that many people are not ready for retirement funds.
[Image 3

When we asked homeowners what they know about making money for retirement, 41.7% of them were aware of the idea of ​​“selling their homes and real estate they own.” It can be seen that fundraising is on the horizon. However, the awareness of “reverse mortgage”, which is also a method of financing using home (loan with home as collateral), was relatively low at 18.2%. In the future, due to the increase in recognition of reverse mortgages, it is expected that the use of reverse mortgages will increase as a method of raising funds for retirement among homeowners.
[Image 4

■ As a reverse mortgage bank agent, we also actively handle “Rakuten Bank Reverse Mortgage”
In order to increase awareness and promote the use of reverse mortgages, we have started handling “Rakuten Bank Reverse Mortgage” as a bank agent with Rakuten Bank as our affiliated bank from June 20, 2022. We actively advertise. Along with expanding the guarantee business, we will work to improve recognition and understanding of reverse mortgages and expand opportunities for customers nationwide who are concerned about their retirement funds.
Going forward, we and Financial Do will work to grow the reverse mortgage guarantee business by realizing partnerships with many financial institutions. By providing these services, we will contribute to the revitalization of the Japanese economy.
■ Status of partnerships in the reverse mortgage guarantee business [partnerships with 40 financial institutions nationwide]
[Image 5d59395-104-b07de6176192e0650abc-4.png&s3=59395-104-ad17780cfdcd00333d3e9801b209d250-1052x560.png

Details about this release:

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: