Reverse Mortgage Rates – July 8, 2008

This week, because of the floor used in finding Principal Limit Factors (PLF’s), all Treasury-based HECM’s with a margin of +156 or less will give the same maximum PLF’s as will all LIBOR-based HECM’s with margins of +88 or less. Using these margins, the initial note rate on a LIBOR HECM will be 57 bp less than that on a Treasury HECM. LIBOR HECM should have some traction!

Our prediction last Monday was correct. A monthly-adjusting Treasury HECM+150 will pay the average HECM borrower $2,750 more this week. That’s up $5,500 over the last two weeks.

Ibis software handles many different indices. The rates of today are:

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Reverse Mortgage Rate Updates are brought to you by Jerry Wagner & Ibis Reverse Mortgage Software – The Industry Standard Since 1995. This is not just a slogan — six of the top 10 reverse mortgage originators plus NRMLA and the AARP use Ibis Software for their websites, retail and wholesale businesses. Lenders use Ibis RMO — loan origination modules, and Ibis Quick Quote — bilingual consumer calculators for your website. We also provide Ibis RMA — a complete counseling package for HUD-Approved reverse counselors.

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  • Can you contact me via email to allowing Hawaii USA Federal Credit Union access to becoming lenders in order to sell U.S. mortgages with Generation Mortgage.

    If you have any questions regarding this message, feel free to cantact me at:

    Tel: (808) 534-4303
    Fax: (808) 522-1271

    Thank you,

    Tom Ohashi

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