Comments on: EverBank Rolls Out LIBOR Reverse Mortgage Products

By: Patricia Bloom

Patricia Bloom — Thu, 20 Mar 2008 16:38:50 +0000

I don’t understand how the various rates listed relate to the customer/reverse mortgage holder. I am now looking to refinance with EverBank formerly BNY.
Main purpose is to have more available cash for home maintenace, repairs etc.

This loan does not sacrifice the homeowner’s equity as has been misstated by the media.

By: Greg Gulliford

Greg Gulliford — Thu, 14 Feb 2008 18:32:12 +0000

From the client perspective, what is it they should know about the Libor products versus the T-bill products?

By: Anonymous

Anonymous — Thu, 14 Feb 2008 14:38:44 +0000

There is higher demand and higher pricicng (read: more $$) in the secondary market for LIBOR Products. All of this has been disguised as LIBOR rates being more stable over the long term but the reality of it is economics. This is a similar shift that the forward market experienced about 6-7 years ago when Wall Street changed its preference from Treasury based ARMs to Libor ARMs.

By: admin

admin — Thu, 14 Feb 2008 14:38:18 +0000

My bad, there are 5, I updated the post.

By: Counter

Counter — Thu, 14 Feb 2008 14:28:15 +0000

So are there 4 different margins or 5?

1.00%, – one
1.125%, – two
1.25%, – three
1.375% – four
and 1.50%. – five

By: Joe Schultz

Joe Schultz — Thu, 14 Feb 2008 11:30:45 +0000

Is there any liquidty problems selling CMT based reverse product into the securities markets? Are originators holding these products in portfolio or is there a demand for these assets in the overall financial markets?

Joe

By: Jack Payne

Jack Payne — Thu, 14 Feb 2008 02:48:38 +0000

Why is it that reverse mortgages are still so universally misunderstood? A major problem for the promoters.