Top news and stories from EWORLDWIRE http://www.eworldwire.com/ http://www.eworldwire.com/logos/logo40x60.gif http://www.eworldwire.com/ 40 60 (C) Copyright 2007 EWORLDWIRE Fri, 24 Oct 2008 10:50:21 -0400 http://www.eworldwire.com/pressreleases/19078 Sun West Mortgage completed issuance of $120 million in HECM Mortgage Backed Securities (HMBS) during the month of September, acting as Issuer to the transactions. The three HMBS pools comprised of Libor HECM, CMT HECM and Fixed-Rate HECM reverse mortgage products, respectively, and marked Sun West's debut as an Issuer to an HMBS transaction. "The reverse mortgage market is poised for rapid growth in the coming years. [EWORLDWIRE] Thu, 23 Oct 2008 10:51:11 -0400 http://www.eworldwire.com/pressreleases/18907 In July, 2008, Sun West Mortgage completed $150 million in issuances of Ginnie Mae HMBS Reverse Mortgage securities. Sun West, acting as Master Servicer to the transactions, has completed over $420 million total in HMBS Reverse Mortgage issuances. This is a significant percentage of the $648 million in Ginnie Mae HMBS Reverse Mortgage issuances since the program's inception on September 7, 2007. [EWORLDWIRE] Tue, 26 Aug 2008 12:04:23 -0400 http://www.eworldwire.com/pressreleases/18794 According to a 2007 AARP survey, borrower opinion of the reverse mortgage program continues to be outstanding. The survey reported that 93 percent of those polled said a reverse mortgage had a positive impact on their lives[1]. A significant portion of many seniors' assets is in their home equity. The 2005 American Housing Survey indicates that an average senior's home value is more than five times his or her annual income[2]. [EWORLDWIRE] Wed, 23 Jul 2008 12:15:01 -0400 http://www.eworldwire.com/pressreleases/18793 Sun West Mortgage is reporting a resurgence of interest in FHA's 203(k) rehab program. FHA endorsements of 203(k) loans have shot up 62 percent since May 2007[1], as buyers search for safe home repair financing in today's tight lending climate. The FHA 203(k) program is HUD's primary tool for the repair and rehabilitation of single and multifamily properties. [EWORLDWIRE] Wed, 23 Jul 2008 12:00:01 -0400 http://www.eworldwire.com/pressreleases/18737 ReverseSoft Online now features an enhanced My Pipeline, a sales management dashboard and tracking module. My Pipeline provides processors and loan officers with a view of the important aspects of their loan production. My Pipeline allows users to track leads all the way through to closed loans from a single screen, giving them a 'bird's eye view' of their sales flow. [EWORLDWIRE] Tue, 08 Jul 2008 12:31:54 -0400 http://www.eworldwire.com/pressreleases/18726 The rising costs of everyday items, such as gas and food, are creating financial hardship for many retired seniors. Meeting expenses such as mortgage payments, utility bills, and credit card bills can be difficult in a slowing economy, particularly for seniors. Many are seeking relief by opting for a reverse mortgage. A reverse mortgage may be the key to living comfortably in retirement, allowing seniors to pay for everyday expenses without worry. [EWORLDWIRE] Thu, 03 Jul 2008 18:11:14 -0400 http://www.eworldwire.com/pressreleases/18694 Maintaining independence is a goal for many seniors. Unfortunately, rocky market conditions and increasing prices of goods and services make it difficult for the nation's elderly to meet their financial obligations. A common solution for senior homeowners in this situation is to sell their home, or seek assistance from their children. A reverse mortgage may be an alternative to these options, because it allows elderly homeowners to maintain both their financial independence and their home. [EWORLDWIRE] Fri, 27 Jun 2008 13:18:01 -0400 http://www.eworldwire.com/pressreleases/18693 Educational costs represent a major expense to many families. In 2006 alone, Americans spent an average of $27,317 sending their children to private universities[1]. It is not uncommon for grandparents to help pay for these sizable costs. A reverse mortgage may be right for seniors who choose to help a loved one with tuition bills, because it provides tax-free cash that can be used for any purpose. Instead of making mortgage payments, the homeowner is paid by the lender in a reverse mortgage. [EWORLDWIRE] Fri, 27 Jun 2008 12:13:17 -0400 http://www.eworldwire.com/pressreleases/18637 Sun West Mortgage, working with a third-party issuer and servicer, recently completed $175 million in issuance of Ginnie Mae HMBS Reverse Mortgage securities. This complex transaction was managed by Sun West and executed through ReverseSoft - Sun West's proprietary reverse mortgage system. ReverseSoft interfaces with third-party issuer/servicer software with minimal effort. [EWORLDWIRE] Fri, 13 Jun 2008 16:18:49 -0400 http://www.eworldwire.com/pressreleases/18600 Sun West Mortgage Company is recording an excellent response to the release of its Branded Origination Calculator. With this feature, Sun West has enabled its partners to build brand identity and create a Web-based reverse mortgage storefront at an outstanding value. The Branded Origination Calculator is Sun West's Reverse Mortgage Calculator, customized for partners. Mortgage brokers can make this tool a part of their Web site, as well. [EWORLDWIRE] Wed, 04 Jun 2008 17:39:31 -0400 http://www.eworldwire.com/pressreleases/18599 Retirement poses a new set of challenges for seniors, such as dealing with less monthly income than they had when working. In this situation, medical costs, debt payments and unexpected emergencies can threaten their fiscal health. Often, they are forced to lower their standard of living or sell their home to deal with the financial stress of unplanned expenses. [EWORLDWIRE] Wed, 04 Jun 2008 14:04:51 -0400 http://www.eworldwire.com/pressreleases/18598 Based on an overwhelmingly positive response, Sun West Mortgage Company has added several Web-based seminars to its already comprehensive FHA and reverse mortgage training series. The release of these new tutorials continues to reflect Sun West's dedication to providing unbiased and thorough education to mortgage industry professionals. The new training sessions cover: .FHAs 203(k) Program, HUDs primary tool for the rehabilitation and repair of single family properties . [EWORLDWIRE] Wed, 04 Jun 2008 14:01:59 -0400 http://www.eworldwire.com/pressreleases/18563 Faced with a slowing economy and a difficult job market, many Americans are finding it more difficult to pay off their credit card balances. Unfortunately, senior citizens are often the hardest hit by credit card payments - especially those living on a fixed income with little savings. For many seniors who are struggling with debt, help is available in the form of a reverse mortgage. [EWORLDWIRE] Wed, 28 May 2008 14:10:53 -0400 http://www.eworldwire.com/pressreleases/18561 Many seniors would like to spend their retirement living in leisure. While retirement may allow seniors the time to travel, financial hardship often prevents many from doing so. A reverse mortgage, however, turns their home equity into cash that can be used for any purpose. The lender pays the borrower in a reverse mortgage, unlike a conventional mortgage, where the borrower makes monthly payments to the lender. [EWORLDWIRE] Wed, 28 May 2008 12:54:41 -0400 http://www.eworldwire.com/pressreleases/18540 Medical bills can be a worrying issue for seniors, especially for those with low to moderate income. For many, medical insurance alone is insufficient to cover the costs of health care. As a result, seniors faced with medical costs are often more concerned with their finances than their well-being. Fortunately, a reverse mortgage may bring peace of mind to elderly homeowners in this situation. With a reverse mortgage, borrowers receive loan advances instead of making monthly payments. [EWORLDWIRE] Wed, 21 May 2008 18:34:40 -0400 http://www.eworldwire.com/pressreleases/18507 With the release of its latest version of ReverseSoft Online, Sun West Mortgage Company introduces its lead management system, Call Capture. This feature is designed to meet the needs of a scalable call center and reduce the learning curve for loan officers entering the reverse mortgage industry. Call Capture is designed to meet the need for rapid lead qualification by prompting the loan officer with a minimal set of loan facts. [EWORLDWIRE] Thu, 15 May 2008 15:22:53 -0400 http://www.eworldwire.com/pressreleases/18494 Seniors nationwide are taking full advantage of the government-insured Reverse Mortgage program to finance home repairs and improvements. Today, low interest rates have resulted in maximizing the amount of proceeds that a borrower may receive under the HUD HECM loan program. "Senior homeowners' growing public awareness of reverse mortgages is causing many to get work done to their home now, instead of waiting," said Paul Scheper, a Certified Senior Advisor (CSA). [EWORLDWIRE] Tue, 13 May 2008 17:14:25 -0400 http://www.eworldwire.com/pressreleases/18255 As reverse mortgages are becoming increasingly popular, mortgage correspondents in the industry are finding it hard to attract and retain experienced processors proficient in reverse mortgages while keeping costs in check. Today, the bulk of the reverse mortgage loans originated is the FHA Home Equity Conversion Mortgage (HECM) loans. [EWORLDWIRE] Mon, 10 Mar 2008 11:40:20 -0500 http://www.eworldwire.com/pressreleases/18195 Sun West today announced the release of the Alert Agent(TM) in ReverseSoft(R). The Alert Agent sends a secure and interactive e-mail to which the recipient can respond and update data on the loan by clicking embedded buttons within the e-mail. Highlighting the inherent value of this feature, Pavan Agarwal, vice president, Sun West Mortgage Company, said, "A production manager’s toughest job is to be able to monitor and resolve the issues in the pipeline. [EWORLDWIRE] Wed, 20 Feb 2008 15:42:31 -0500 http://www.eworldwire.com/pressreleases/18194 Sun West today announced the release of the Alert Agent(TM) in ReverseSoft(R). The Alert Agent sends a secure and interactive e-mail to which the recipient can respond and update data on the loan by clicking embedded buttons within the e-mail. Highlighting the inherent value of this feature, Pavan Agarwal, vice president, Sun West Mortgage Company, said, "A production manager’s toughest job is to be able to monitor and resolve the issues in the pipeline. [EWORLDWIRE] Wed, 20 Feb 2008 13:03:57 -0500 http://www.eworldwire.com/pressreleases/18151 Sun West Mortgage Company Inc. today announced that industry veteran David Carey has joined the company as vice president. A professional with extensive senior-level leadership experience in federal agencies and private organizations, Carey comes from Fannie Mae (FNMA) where he served most recently as National Product Developer and Manager. At Fannie, Carey has been instrumental in growing the reverse mortgage portfolio to over $20 billion in a short span of six years. [EWORLDWIRE] Fri, 08 Feb 2008 15:43:20 -0500 http://www.eworldwire.com/pressreleases/18100 Sun West Mortgage today announced the release of a new product that enables lenders capture new business which many did not realize they already had. The latest release of its flagship reverse mortgage software, ReverseSoft(R), features an intelligent Import-a-Loan Wizard that automatically and seamlessly converts a loan application taken on a conventional, non-reverse mortgage system into a reverse mortgage loan. [EWORLDWIRE] Mon, 28 Jan 2008 13:46:29 -0500 http://www.eworldwire.com/pressreleases/18088 Sun West Mortgage Company Inc. successfully launched a comprehensive hands-on workshop on reverse mortgages. This unique four-hour workshop was attended by a wide range of mortgage professionals and was focused on training the participants with real-world scenarios. The workshop provided a simple yet powerful way to learn about reverse mortgage programs, products and tools available in the industry so they can become informed Advisors. The workshop, conducted on January 10 in Irvine, Calif. [EWORLDWIRE] Wed, 23 Jan 2008 14:00:39 -0500 http://www.eworldwire.com/pressreleases/18039 Sun West Mortgage Company, Inc. successfully launched its free comprehensive FHA and reverse mortgage web-based training series. These Web-based class sessions provide a convenient and interactive way to learn about FHA and reverse mortgage programs, products and origination techniques while addressing the nuances and identifying tools available in the industry. [EWORLDWIRE] Tue, 08 Jan 2008 15:35:28 -0500 http://www.eworldwire.com/pressreleases/18007 Sun West Mortgage Company Inc., one of the leading innovators in the reverse mortgage industry, recorded a phenomenal response to its Simple HECM(TM) product during the first week of December. With over 150 underwriting submissions received within the first week of its launch, Simple HECM has now become one of the most popular reverse mortgage products in the industry. The Simple HECM has advanced beyond yesterday's Constant Maturity Treasury (CMT) based HECM products. [EWORLDWIRE] Fri, 28 Dec 2007 16:01:33 -0500 http://www.eworldwire.com/pressreleases/16511 Sun West Mortgage Company, Inc., one of the leading innovators in the reverse mortgage industry, is proud to offer the HECM 100 and 125 to complement the traditional HECM150 product. These new HECM products allow Sun West's broker partners to remain competitive as the secondary market for reverse mortgages becomes more efficient. The HECM 100 and 125 are fully integrated into Reversesoft and are available immediately. [EWORLDWIRE] Thu, 22 Feb 2007 08:20:28 -0500 http://www.eworldwire.com/pressreleases/16510 Sun West Mortgage, one of the leading innovators in the reverse mortgage industry, is pleased to introduce its proprietary jumbo reverse product, Cash Keeper(SM). The product is already being originated on a limited basis and will be ready for mass production on March 20, 2007. Cash Keeper offers unparalleled choices to senior citizens. Designed specifically for high value home-owners, Cash Keeper offers variety of unique features. [EWORLDWIRE] Wed, 21 Feb 2007 20:07:04 -0500 http://www.eworldwire.com/pressreleases/16509 Sun West Mortgage, one of the leading innovators in the reverse mortgage industry, is pleased to introduce its proprietary jumbo reverse product, Cash Keeper(SM). The product is already being originated on a limited basis and will be ready for mass production on March 20, 2007. Cash Keeper offers unparalleled choices to senior citizens. Designed specifically for high value home-owners, Cash Keeper offers variety of unique features. [EWORLDWIRE] Wed, 21 Feb 2007 19:12:13 -0500