Arizona’s top reverse mortgage lenders thru April 2007. Look for Wells Fargo’s lead to fall as the year goes on with Bank of America and Countrywide making noise at the party.
| Top Arizona HECM Lenders |
HECM
Loans
2007 |
| WELLS FARGO BANK NA |
487 |
| SUN VALLEY FINANCIAL OF UTAH I |
295 |
| FINANCIAL FREEDOM SENIOR FUNDI |
194 |
| SUN AMERICAN MORTGAGE CO |
145 |
| SEATTLE MORTGAGE COMPANY |
105 |
| WSB MORTGAGE SERVICES INC |
52 |
| FIRST MAGNUS FINANCIAL CORP |
51 |
| ACADEMY MORTGAGE LLC |
46 |
| AMERICAN ADVISORS GROUP |
42 |
| PRIME SOURCE MORTGAGE INC |
25 |
| FIRST NATIONS HOME FINANCE COR |
24 |
| FIRST MARINER BANK |
22 |
| AMERICAN MORTGAGE PROFESSIONAL |
22 |
| COMUNITY LENDING INC |
22 |
| AMERICAN SENIOR FUNDING CORPOR |
21 |
| AMWEST CAPITAL MORTGAGE INC |
20 |
| U.S. FINANCIAL MORTGAGE CORPOR |
18 |
| PRIME CAPITAL INC |
17 |
| OMNI HOME FINANCING INC |
13 |
| OPTION FUNDING INC |
12 |
| MORGAN FINANCIAL INC |
12 |
| APPROVAL FIRST HOME LOANS INC |
12 |
| PACIFIC REVERSE MORTGAGE INC |
11 |
| EQUIPOINT FINANCIAL NETWORK IN |
11 |
Written by charles dennis on June 8th, 2007 with no comments.
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If you are like me, the range of financial advise you have heard over the years when it comes to how to take proper deductions on your taxes ranges the gambit from writing off money given to the guy outside of the 7-11 to not having to pay the IRS any taxes because the laws are “allegedly” illegal. I came across a solid article that goes into detail of deducting interest accrued from a home equity loan that you may want to know about:
The state of California recently reviewed a sample of state tax returns which claimed large mortgage interest deductions and found that 75% of the tax returns had claimed excessive interest deductions. There are rules that limit how much interest you can deduct for your mortgage and other monies borrowed against your house. However, historically, only the extremely (more…)
Written by charles dennis on June 8th, 2007 with no comments.
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As with any burgeoning market, the entrants to capitalize on the market are numerous. SWBC is throwing their name in the reverse mortgage hat and getting ready to compete with the likes of BofA, Countrywide and Wells Fargo. Usually competition is good for consumers, tough on businesses. Consolidation may occur in ten years, but for now the pool will keep on growing.
Southwest Business Corp. (SWBC) has created a new Reverse Mortgage division at the local company.
The new division will help homeowners 62 and older supplement their income, SWBC officials say.
A reverse mortgage allows homeowners to convert part of the equity in their homes into cash without having to sell the home or add to their monthly expenses. (more…)
Written by charles dennis on June 8th, 2007 with no comments.
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