April 24th, 2008 |
by admin |
published in
1st Reverse, Bank of America, Countrywide, EverBank, Financial Freedom, Gold Reverse, LLS, Products
As the credit crunch spreads into the proprietary reverse mortgage business, it is beginning to cause issues for both originators and borrowers with dwindling options for these products. Welcome to the land of the Double Application.
Many loan originators have begun having to originate two reverse mortgages at the time of application never knowing if one […]
February 25th, 2008 |
by admin |
published in
EverBank, Financial Freedom, LLS, News, Products, Reverse Mortgage
We’ve already seen this happen with reverse mortgage products that are based on the CMT. Lenders release HECM products with lower margins to compete and eventually the lower margins start to disappear because of market conditions.
Lender Lead Solutions was the first reverse mortgage lender to come out with a LIBOR product and then we saw […]
February 13th, 2008 |
by admin |
published in
EverBank, News, Products, Reverse Mortgage
As the industry continues to shift from CMT to LIBOR based reverse mortgage products EverBank Reverse Mortgage recently announced the release of their LIBOR based HECM product. The product will offer seniors five different margins of 1.00%, 1.125%, 1.25%, 1.375% and 1.50%.
We started seeing LIBOR based reverse mortgages a few months ago and according to […]
