This week, all Treasury-based HECM’s with a margin of +186 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +121 or less. Using these margins, the initial note rate on a LIBOR HECM would be 187 bp less than that on a Treasury HECM.
The rates as of 10/7/08 are:
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.