Liberty Reverse Mortgage Releases Proprietary Jumbo Loan

Liberty Reverse Mortgage Releases Proprietary Jumbo Loan,

Liberty Reverse Mortgage announced today the release of its first proprietary Reverse Mortgage product. The Liberty Preferred(TM) loan gives Reverse Mortgage originators the opportunity to provide their clients a jumbo alternative that can be used for home purchase and higher home values.

“As our wholesale business continues to expand, having a growing suite of products is critical to give our Broker Partners flexibility in serving the increasing needs of the senior client base,” said Jesse Passafiume, Vice President of Wholesale and Correspondent Lending for Liberty. “The Liberty Preferred(TM) loan is just one of many products we will be rolling out in the coming months. Our new partnerships are providing the horsepower we need to accelerate product development.”

The Liberty Preferred(TM) features include:
– Home purchase option
– No mortgage insurance premium
– Loans on homes up to $4 million in value
– Aggressive premium pricing allowing Brokers to offset borrowers’
closing costs.

Found here.

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Written by News & Feeds on November 26th, 2007 with comments disabled.
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