Sun West Mortgage Company recently released their new LIBOR based HECM product, the Simple HECM™. We’ve already seen LIBOR based HECM products from Lender Lead Solutions and Financial Freedom but the Simple HECM is a little bit different than the rest.
The Simple HECM is a lot like LLS’s LIBOR Flex Advantage product in the respect that they both offer different margins, but the Simple HECM offers a few more margin choices. Below you can see the different margins available:
Other than the LIBOR based pricing and different margins available the Simple HECM has the same guidelines as the CMT based HECM. To find out more about the program and SWMC click the link below.