CERRITOS, Calif./EWORLDWIRE/Feb. 21, 2007 --- 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. The product offers higher principal limits than other jumbo reverse products with no cap on the loan amount or the home value.
Cash Keeper Highlights:
- Cash out, credit line, monthly payment for a term, or a combination of the three
- Monthly adjusting, 1-Month LIBOR
- Two margin options to choose from
- Unused credit line grows monthly at a rate of five percent per annum
- No FHA insurance requirements
- Closing costs can be financed into the loan
- Available for primary and secondary residences
Cash Keeper is fully backed by the cutting edge technology platform, Reversesoft(TM). Reversesoft is Sun West's integrated Web-based solution designed for origination, processing and servicing of Reverse Mortgage loans.
Speaking on this occasion, Hari Agarwal, president and founder of Sun West, said, "Cash Keeper fills a large gap in the current market place that was unaddressed until now. Our goal is to maintain our leadership position in the market through innovative mortgage products backed by state-of-the-art technology."
"In the next quarter, Sun West plans to introduce more proprietary products that will uniquely empower our broker-partners to service the needs of a wide range of senior homeowners," added Mr. Agarwal.
Sun West Mortgage Company, Inc. is a FHA, VA, Freddie Mac, Fannie Mae and Ginnie Mae approved full-service mortgage banker. Sun West has been servicing its nationwide client base since 1980. Its diversified loan programs include FHA Single Family and Multi-Family, VA, Conventional, Jumbo, Option ARMs, and Home Equity. Sun West is one of the few direct lenders to provide in-house underwriting, funding, and servicing for reverse mortgage products. Based in California but doing business nationally, Sun West is dedicated to offering exceptional customer service coupled with integrity, reliability, strength and stability. Learn more online at http://www.swmc.com.
(Top)