Sun West Mortgage Company Releases Simple HECM
October 29th, 2007 | by admin Published in Products, Reverse Mortgage, Sun West | 2 Comments
Sun West Mortgage Company recently released their new LIBOR based HECM product, the Simple HECM™. We’ve already seen LIBOR based HECM products from Lender Lead Solutions and Financial Freedom but the Simple HECM is a little bit different than the rest.
The Simple HECM is a lot like LLS’s LIBOR Flex Advantage product in the respect that they both offer different margins, but the Simple HECM offers a few more margin choices. Below you can see the different margins available:
Other than the LIBOR based pricing and different margins available the Simple HECM has the same guidelines as the CMT based HECM. To find out more about the program and SWMC click the link below.
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October 31st, 2007 at 7:20 am (#)
Sun West program seems good. Their service is wonderful.
February 3rd, 2008 at 3:13 am (#)
I agree with this post 101% and I have had great experiences with my clients with Simple HECM product.
Simple HECM offers more choices than any other product in the reverse mortgage market today. I have been originating reverse mortgages for the last 7 years but I have never seen my clients taking as much liking as to Sun West’s Simple HECM. I have already originated 11 reverse mortgages with Simple HECM Program alone since learning about it.
The greatest benefit in favor of Sun West is its technology. The Simple HECM calculator is powered by an artificial intelligence engine, which is an integral part of Sun West’ software system, ReverseSoft. The user only needs to input a few simple property facts, and the AI engine computes the optimal LIBOR margin, closing costs and required cash-out to create a custom loan product as per the requirement of my clients.
The system is completely free. Sun West provides you all the training on reverse mortgages. Underwriting turn around time has always been less than 24 hours and the service has been the best on each of my originations. What more one can ask for?
I would highly recommend everyone to try their product once. My figures have certainly gone up just because of the benefit I have had through customizing the reverse mortgage for my clients.
Feel free to write me comments and do let all know of your experiences with Simple HECM and how it helped your clients with their homeownership needs.
Manish Brown