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Press Release
Sun West: Reverse Mortgage Satisfaction Continues To Be High
Go Back - Home > Press Releases > Cerritos, CA - July 23, 2008

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]. A reverse mortgage meets an important need among seniors by allowing them to tap this home equity and supplement their income.

Traditional mortgages rely heavily on credit history and income to qualify an applicant. With a reverse mortgage, the only requirements are that seniors are 62 or older and own and live in their home. The loan isn't due until the last borrower leaves the home. Borrowers can never owe more than the value of their home.

"A reverse mortgage is one of the greatest things to help people in their later years enjoy quality in their lives," says Alpha Williams, a reverse mortgage borrower from Southern California. Once Ms. Williams took out her loan, she was able to eliminate her monthly mortgage payments and take a long awaited vacation. Williams is part of a growing number of seniors who have benefited from a reverse mortgage, and adds that the loan "allows you to stop, breathe and enjoy."

The reverse mortgage presents an exciting opportunity for many seniors who wish to secure their financial peace of mind. Interested seniors should talk to an experienced lender to learn more about the federally insured reverse mortgage program. Sun West Mortgage has over 27 years of experience in the mortgage banking industry, with an ongoing commitment to educate and enrich the lives of seniors.

For a free informational package on the Reverse Mortgage program, contact Sun West Mortgage Company at 800-453-7884.

About Sun West Mortgage Company Inc.

Sun West Mortgage Company Inc., currently licensed in 45 states, is an FHA, VA, Freddie Mac, Fannie Mae and Ginnie Mae approved full-service mortgage banker. It is an approved Ginnie Mae HMBS Issuer, Servicer and Master Servicer. Sun West has been serving its nationwide client base since 1980. Its diversified loan programs include FHA Reverse Mortgages, FHA Single Family and Multi Family, VA, Conventional and Home Equity mortgages. Sun West is one of the few direct lenders to provide in-house underwriting, funding, and servicing for reverse mortgage products. Based in California and doing business nationally, Sun West is dedicated to offering exceptional customer service coupled with integrity, reliability, strength and stability.

About ReverseSoft®

ReverseSoft Online is on 27 years of FHA lending and mortgage technology experience. It combines a high-speed underwriting engine based on a rich library of rules with the flexibility and scalability to integrate it with third party systems.

Learn more about:
Sun West Mortgage Company [NMLS ID 3277] at http://www.swmc.com
ReverseSoft Online at http://www.reversesoftonline.com
Reverse Mortgage Calculator at http://www.SimpleHECMCalculator.com

Sydney Fernandez
Phone: (800) 453-7884
Fax: (562) 924-6057
Email: media@swmc.com

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Consumer Home Loan Mortgages

Consumer Home Loan Mortgages

SWMC offers a wide range of residential home loan mortgage programs to suit different situations such as a purchase, refinance, a property rehabilitation loan or a reverse mortgage at the competitive interest rates.

FHA Purchase at 96.5% Financing, Streamline (Interest Rate Reduction) Refinance, and Cash-Out Refinance, 203(k) Rehabilitation Loan, 203(k) Streamlined Rehabilitation Loan, and the Home Equity Conversion Mortgage (Reverse Mortgage) and USDA Rural Housing mortgages.

If you are a Veteran, Sun West offers you VA guaranteed mortgages for Purchase Loans at 100% Financing, Cash-Out Refinance, and Streamline Interest Rate Reduction Refinance Loans (IRRRL).

You can use our simple mortgage calculator tools to find out your monthly payment, the house you can afford, your refinance options, or the home equity you may be able to access through a reverse mortgage (HECM).

As a full-service mortgage bank, Sun West is one of the few approved direct lenders to provide in-house origination, processing, underwriting, closing, funding, and servicing. Based in California with active presence across the country, Sun West is dedicated to offering exceptional service coupled with integrity, reliability, and experience.
Read More About Consumer Home Loan Mortgages >>
 
Mortgage Partner Services

Mortgage Partner Services

You can become a partner with Sun West as a Wholesale Mortgage Broker or a Correspondent Lender. If you are a mortgage banker, ask us about our Warehouse Lending program.

In addition to residential mortgage lending, Sun West also offers FHA multifamily, healthcare facilities, commercial and portfolio lending services.

As a partner you have access to SunSoft™ - Sun West's state-of-the-art mortgage loan origination and servicing software. Built on over 30 years of lending and mortgage technology experience, SunSoft is compliant with federal and state requirements.

Sun West is approved by Ginnie Mae as an Issuer, Servicer and Participation Agent. This rare approval enables us to issue securities backed by the full faith and credit of the United States. Consequently, Sun West is able to offer its partners and borrowers the competitive interest rates in the market.
Read More About Wholesale Lending >>

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Mortgage Partner Resources

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Press Releases

Press Releases
  • 05/15/2012: Sun West Mortgage Company Partners with EGIA to Introduce the FHA PowerSaver Loan Program Read More..
     
  • 12/16/2011: Sun West Mortgage Company and the Cerritos Sheriff Station team up to supply little boys and girls toys this holiday Read More..
     
  • 10/03/2011: Sun West Mortgage Increases Its Reach in New Jersey Read More..
     
  • 4/22/2011: Variable Servicing Margins on Different Participations of the Same Loan for HMBS Issuers Announced by Sun West Mortgage Read More..
     
  • 2/16/2011: Sun West Mortgage Company Crosses $6 Billion Mark in Ginnie Mae HECM Mortgage Backed Securities Read More..
     
  • 10/26/2010: Capital Markets Cooperative and Sun West Mortgage Company Creates New Strategic Alliance Read More..
     
  • 7/14/2010: Sun West Mortgage Issues Green Building Guidelines For Multifamily Projects Nationwide Read More..
     
  • 3/18/2010: Pentagon Federal Credit Union and Sun West Mortgage Announce First in the Nation Approach to Reverse Mortgage Initiative Read More..
     
  • 1/28/2010: Ginnie Mae Hope for Homeowners Securities Issued by Sun West Mortgage Read More..
     
  • 1/28/2010: Sun West Crosses $2 Billion Mark in Ginnie Mae HECM Mortgage Backed Securities Read More..
     
View All Press Releases >>
 
Lender Alerts

Lender Alerts
  • 05/16/2012: Introducing SWMC Express: Reduced Overlays and Faster Reviews! Read More..
     
  • 04/18/2012: Reduced FHA Streamline Overlays Read More..
     
  • 04/17/2012: Same Day Underwriting For Fha Streamlines. Submit Your Streamlines Now. All Other Products: 48 Hours Or Less Read More..
     
  • 04/11/2012: Webinar Invitation Streamline Loan Delivery and Purchase with Sun West Read More..
     
  • 04/04/2012: SWMC Service Alert Read More..
     
  • 04/04/2012: SWMC Early Lock Desk Closure Notification Read More..
     
  • 03/22/2012: Additional Reduced Overlays for FHA Streamlines Read More..
     
  • 03/15/2012: SWMC Presents "FHA 203k" Read More..
     
  • 02/22/2012: Sun West Announces Relaxed Guidelines for FHA Streamline Refinances Read More..
     
  • 02/07/2012: SWMC Product Guidelines - FHA Jumbo Update Read More..
     
View All Lender Alerts >>
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Notice to prospective vendors, service providers, brokers, dealers, trading counter-parties, and corporate partners:
The only persons authorized to enter into contracts on behalf of Sun West Mortgage Company, Inc. are the company's President and Chief Executive Officer.

You may call our corporate office at +1 (800) 453-7884 or e-mail contracts@swmc.com to verify the execution of any contract.
 

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the New Hampshire Banking Department as a Mortgage Banker (License # 13604-MB) [(603) 271-8675]; is a licensed lender in Utah (License# 7477238) with a branch license in South Jordan, Utah (NMLS ID 776241) [(801) 530-6297]; and is licensed as a Mortgage Banker in Wisconsin (License# 212942BA) [(608) 261-7578]; is a licensed Mortgage Lender and Servicer in Puerto Rico (License# IH-138) with a branch license in Guaynabo, Puerto Rico (NMLS ID 516931) [(787) 723-8403]; has a Consumer Loan License in Washington (CL-3277) [(360) 902-8703]; is a licensed Mortgage Lender in the District of Columbia (MLB3277) [(202) 442-7821]; and licensed as a Residential Mortgage Lender in Wyoming (License# MBL-1902) [(307) 777-6483]; is exempt from licensing as a Wholesale Lender in Nevada [(775) 684-7060]; is a licensed lender in Vermont (License# 6060) and a licensed Loan Servicer (License# 3277-1) [(802) 828-3307]; is a Residential Mortgage Loan Broker licensee in Missouri (License# 11-1881-S) [(573) 751-4243]; is licensed by the Hawaii Department of Financial Institutions as a Mortgage Loan Originator Company (HI-3277) having a Branch Office (Mortgage Loan Originator Company Branch License HI-719250) in Kapaa, HI (NMLS 719250) [(808) 586-2820]; is a licensed Mortgage Lender in Georgia (License# 22591) [(770) 986-1633]; has a Mortgage Company License (License# MC.0025065) in Kansas [(785) 296-2266]; is a licensed lender in Delaware (State Bank Commissioner License# 9970) [(302) 739-4235]; is a First Lien Mortgage Lending licensee with Indiana Department of Financial Institutions (License# 11272) [(317) 232-3955]; licensed Broker by the Virginia State Corporation Commission as (License# MC-4999) [(804) 371-0484]; licensed by the Arizona Department of Financial Institutions registered in Arizona as Sun West Mortgage USA Company, Inc. DBA Cal State Funding and licensed as a Mortgage Banker (License# 0909624), a branch in Chandler, AZ (NMLS ID 167400) and Scottsdale, AZ (NMLS ID 359295) [(602) 771-2800]; registered in New Mexico under the Mortgage Loan Company and Loan Broker Act (License# 03201) doing business as Sun West Mortgage USA, Inc. [(505) 476-4908]; a registered Texas Mortgage Banker (NMLS ID#359295) [(877) 276-5550]; is licensed in Alaska as a Mortgage Broker and Lender (License# AK3277) [(907) 269-4594]; Licensed by the Mississippi Department of Banking and Consumer Finance (License# 603/2008) [(800) 844-2499]; a South Dakota Licensed Mortgage Lender (License# ML.04740) [(605) 773-3421]; is licensed as a Supervised Lender in Maine (License # SLM9710) [(207) 624-8539]; a mortgage lender in West Virginia (License# ML-23946) [(304) 558-2294]; is a licensed mortgage lender in Maryland (License# 17740) [(410) 230-6155]; registered in Ohio under the Mortgage Broker Act Mortgage Banker Exemption (MBMB.850093.000) with a branch (NMLS ID 447576) in Westerville, Ohio (License# MBMB.850093.001). [(614) 728-8400]; by the Department of Corporations as a California Finance Lender (License #6030119) with a Branch Office in Corona, CA (NMLS ID 363427) [(866) ASK-CORP] and is licensed by the Department of Real Estate (License #00793885) [(877) 373-4542]; is licensed in Idaho as a Mortgage Broker and Lender (License# MBL-6742) [(208) 332-8002]; is licensed as a Mortgage Banker and Mortgage Servicer by the Arkansas Securities Commissioner (License# 40431) [(501) 324-9265]; is a licensed Residential Mortgage Originator in Minnesota (License# MN-MO-40020564) [(651) 296-6657]; is a licensed Mortgage Lender and Servicer in South Carolina (License# MLS-3277) [(803) 734-2020]; is a licensed Mortgage Banker in Pennsylvania (License# 21829) [(717) 787-7334]; an Oregon Mortgage Lender Licensee (License# ML-4599) [(503) 378-4140]; is a North Dakota licensed Money Broker (License# MB101661) [(701) 328-9932]; is registered as a First Mortgage Broker, Lender and Servicer in Michigan for first (License# FR0016085) [(877) 999-6442]; is licensed in New York as a Mortgage Banker-NYS Banking Department (License# B500897) [(212) 709-3847]; is licensed as an Illinois Residential Mortgage Licensee by the Office of Banks and Real Estate, Mortgage Banking Division, (License# MB.6760356) [(312) 793-1955]; is licensed by Florida’s Office of Financial Regulation with a Mortgage Lender License (License# MLD266) [(850) 410-9895]; registered by the Tennessee Department of Financial Institutions under the Residential Lending, Brokerage and Servicing Act (License# 3552) [(615) 253-6714]; the Connecticut Department of Banking (Registered in Connecticut as Sun West Mortgage Company, Inc. dba Cal State Funding, Mortgage lender (License# 19683) [(860) 240-8275]; is licensed in Oklahoma as a Mortgage Broker (License# MB001619) [(405) 521-3653]; is a licensed Mortgage Banker in Iowa (License# 2007-0093) [(515) 281-4014]; Sun West Mortgage Company, Inc. (NMLS ID 3277) has a Consumer Credit License in Alabama (License# 21015) [(334) 242-3452]; is a licensed lender in New Jersey (License# 9400980) with a branch office in Denville, NJ (NMLS ID 454915) by the New Jersey Department of Banking [(609) 292-7272]; is licensed as a Residential Mortgage Lender in Louisiana (License# 2713) [(225) 925-4660]; is licensed as a Mortgage Loan Company by the Department of Financial Institutions in Kentucky (License# MC71444) [(800) 223-2579 ]; is a licensed Mortgage Banker in Nebraska as dba Cal State Funding, Inc. (License# 1908) [(402) 471-2171]; by the Colorado Department of Law Uniform Consumer Credit Code, holding a Supervised Lender’s License (989559) and a Mortgage Company Registration [(303) 866-4527]; is licensed as a Mortgage Lender in Montana (License# 3277) [(406) 841-2928]; is a registered third party servicer in Massachusetts (Registration# LS3277) [(617) 956-1500];

In all states, the principal licensed office of Sun West Mortgage Company, Inc. (NMLS ID 3277) is 18303 Gridley Road in Cerritos, CA 90703; (800) 453-7884.