A few weeks ago, Lender Lead Solutions announced the release of the first LIBOR based HECM product, with hopes to eliminate the pricing instability the market is experiencing with CMT based HECMs. “We believe the LIBOR 75 Flex Margin Advantage product is the best of both worlds,” said David Peskin, chief executive officer of Lender Lead Solutions. “The product offers attractive pricing to our brokers, better liquidity to consumers and less interest rate risk for lenders. Additionally, our LIBOR Flex Margin Advantage product offerings have staying power and consistency which, given the climate of the secondary market, is critical.”
Instead of having the usual “one size fits all” approach, LLS products all provide originators the flexibility to adjust margins accordingly to best fit each seniors needs. The new LIBOR Flex Margin Advantage product is no different. The suite offers margins from 75 to 200 on LIBOR based HECMs as well as a 65 margin which is available at a reduced payout. Along with the different margin choices, LLS is the first lender to offer borrowers the choice of a monthly or annual adjustable rate on the LIBOR based HECM.
LLS has been real busy ever since KBC decided to acquire the company back in August. Along with releasing the Prime Equity Advantage and the LIBOR Flex Margin Advantage, they recently announced the expansion of their television campaign with RMD readers favorite reverse mortgage spokesman, Robert Wagner. “Lender Lead Solutions has always thought out of the box in order to better serve the reverse mortgage industry by offering consumer education through its Senior Lending Network television campaign and now is on the cutting edge of product development,” stated Peskin.
With so much going on you would think that LLS would be done releasing new products, but according to Peskin, “The company expects to release several additional new products before the end of the year. This is a reflection of our desire and ability to anticipate and meet the needs of an ever changing marketplace. “ To read a full copy of the press release click the link below.