MDMC recently announced that they have completed their first agency delivery of almost 5,000 loans for over $500 million of reverse mortgages. As the demand for reverse mortgages continues to increase MDMC has expanded its reverse mortgage offerings to meet the growing need. MDMC is a national mortgage analysis firm headquartered out of Las Vegas, NV that provides due diligence and agency delivery services to companies throughout the country.
“We have successfully finished this first delivery on behalf of one of our clients and we are very excited to offer this additional service to the market,” said David Custer, portfolio analyst at MDMC. “We are also beginning work on a reverse delivery to another GSE. A number of the loans in both portfolios were also reviewed by our due diligence team, so we were able to service those clients in multiple ways.” MDMC began reviewing reverse mortgages in 2006 when they began to get interest from clients looking to purchase these loans on the secondary market.
“At MDMC, we continuously seek to expand our offerings to meet the needs of the market,” added Paul Raebel, portfolio analyst at MDMC. “The agency delivery of reverse mortgages just began this year and we are proud to be on the ground level of one of the newest areas of interest in the secondary market.” To see a copy of their press release click the link below.