Taking a conservative approach to writing reverse mortgages, Sun West Mortgage, Cerritos, Calif., prefers to be careful on the front-end and “aggressive” on the servicing side, according to Pavan Agarwal, vice-president of the family-owned firm. Agarwal, who joined the company right out of college, says Sun West is “proactive in servicing,” particularly when taxes come [...]

Financial Freedom announced to wholesale customers that it has enhanced its HECM Fixed Rate product by offering a lender paid credit to borrower closing costs on all refinance transactions.  The new product will be available starting June 3, 2010 and was designed to maximize flexibility for loan originators and provide better tools to capture interested reverse [...]

Sun West Mortgage Company announced it’s offering improved pricing and a no fee reverse mortgage starting May 27, 2010.
The new product allows wholesale customers to design a reverse mortgage with all or any combination of service, origination, mortgage insurance premium (MIP), and title insurance fees to provide consumers with a HECM product that best fits [...]

Sun West Mortgage Company is expanding to the Eastern part of the United States by opening a new office in Lake Mary, Florida. The new office will focus on wholesale production for both the forward and reverse mortgage business said the company.
The location will be staffed by Dennis Loxton and Dylan Rodriguez with plans to [...]

Pentagon Federal Credit Union (PenFed) and Sun West Mortgage Company (SWMC) announced a joint initiative that allows PenFed to offer reverse mortgage services to its members.
PednFed will initially market the Federal Housing Administration’s reverse mortgage program to its members in Washington, D.C., Maryland, and Virginia, with plans to roll it out nationwide after the pilot [...]

Sun West Mortgage Company today announced that it has crossed the $2 Billion mark in HECM Mortgage Backed Securities (HMBS).
Acting as a participation agent or an issuer, the Cerritos, CA based reverse mortgage lender fulfills a strategic role in supporting liquidity in today’s troubled credit markets.

The US Department of Housing and Urban Development announced its Mortgagee Review Board (MRB) is imposing civil money penalties against two FHA approved lenders in  Wisconsin and Connecticut for a variety of violations of FHA lending and marketing standards.
In addition, the MRB reached tentative settlements with four other lenders and issued two Letters of [...]