Sun West Announces Zero Fee Reverse Mortgage
by Finance
Sun West Mortgage Institution announced it’s gift improved pricing and a no fee take back mortgage starting May 27, 2010.
The new goods allows wholesale customers to frame a override mortgage with all or any mix of putting into play, origination, mortgage guaranty incentive (MIP), and designation protection fees to offer consumers with a HECM produce that most excellently fits their needs said the performers in a account to brokers.
Wholesale customers can fabricate the commodity by sliding the dials in SWMC’s LOS (see representative below).

The move by SWMC is the latest energy by wholesaler lenders to fight after Bank of America started crediting the unmixed upfront MIP fee for brokers on the rigid proportion rank program.
SWMC is providing more conformity to brokers than BofA which told RMD in an email “since we don’t guidance a dealer’s origination fee, we accept oblation a place one's faith for the MIP is the superlative way to make sure that value is delineated back to the buyer.”
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