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Sun West Crosses $2 Billion Mark in Ginnie Mae HECM Mortgage Backed Securities

Go Back - Home > Press Releases > Cerritos, CA - January 28, 2010

Sun West Mortgage Company today announced that it has crossed the $2 Billion mark in HECM Mortgage Backed Securities (HMBS). Acting as a participation agent or an issuer, Sun West fulfills a strategic role in supporting liquidity in today's troubled credit markets.

The complex securitization and bond accounting technology requirements of this unique security is delivered through ReverseSoft, Sun West's proprietary reverse mortgage system. ReverseSoft automates the intricate process of organizing and formatting the loan data, both for transmission to the issuer's document custodian and for delivery to Ginnie Mae through GinnieNET. In addition, the system's flexible design enables rapid integration with most industry standard reverse mortgage loan servicing software.

"Sun West has facilitated the securitization process for originators of every scale, from federally chartered banks to regional mortgage banks. Our partners love our technology because it eliminates the complexities of managing HMBS securitization, and, therefore, they can focus on serving the senior community," says Pavan Agarwal, executive vice president, Sun West Mortgage Company.

Interested parties may learn more by contacting Sun West Mortgage Company Inc. at (800) 453-7884.

ReverseSoft is a feature rich reverse loan origination and servicing system. It is exclusively available to Sun West's partners at no charge. Under this limited license, partners can originate loans, order vendor services and monitor their pipeline on a real-time basis.

To become a Sun West partner, mortgage bankers may send an e-mail to sales@swmc.com or call Anthony Toro directly at (626) 676-9609.

About Sun West Mortgage Company Inc.

Sun West Mortgage Company Inc., currently licensed in over 40 states, is an FHA, VA, USDA, 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, HUD Multifamily, 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 Sun West's flagship loan origination system for reverse mortgages. Built on 29 years of FHA lending and mortgage technology experience, it combines an intelligent work flow and a high-speed underwriting engine, based on a rich library of rules with the flexibility and scalability to seamlessly integrate 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

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.

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.

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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

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 >>

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 a licensed lender in Vermont (License# 6060) and a licensed Loan Servicer (License# 3277-1) [(802) 828-3307]; is registered as a First Mortgage Broker, Lender and Servicer in Michigan for first (License# FR0016085) [(877) 999-6442]; is a Residential Mortgage Loan Broker licensee in Missouri (License# 11-1881-S) [(573) 751-4243]; licensed Broker by the Virginia State Corporation Commission as (License# MC-4999) [(804) 371-0484]; is licensed in Idaho as a Mortgage Broker and Lender (License# MBL-6742) [(208) 332-8002]; is a licensed lender in Delaware (State Bank Commissioner License# 9970) [(302) 739-4235]; is licensed as a Mortgage Lender in Montana (License# 3277) [(406) 841-2928]; is licensed by Florida’s Office of Financial Regulation with a Mortgage Lender License (License# MLD266) [(850) 410-9895]; is a registered third party servicer in Massachusetts (Registration# LS3277) [(617) 956-1500]; 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]; has a Consumer Loan License in Washington (CL-3277) [(360) 902-8703]; registered by the Tennessee Department of Financial Institutions under the Residential Lending, Brokerage and Servicing Act (License# 3552) [(615) 253-6714]; 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]; is licensed by the New Hampshire Banking Department as a Mortgage Banker (License # 13604-MB) [(603) 271-8675]; a registered Texas Mortgage Banker (NMLS ID#359295) [(877) 276-5550]; a South Dakota Licensed Mortgage Lender (License# ML.04740) [(605) 773-3421]; is a licensed Mortgage Banker in Pennsylvania (License# 21829) [(717) 787-7334]; is a licensed mortgage lender in Maryland (License# 17740) [(410) 230-6155]; is a licensed Mortgage Lender in Georgia (License# 22591) [(770) 986-1633]; is a licensed lender in Utah (License# 7477238) with a branch license in South Jordan, Utah (NMLS ID 776241) [(801) 530-6297]; is licensed in New York as a Mortgage Banker-NYS Banking Department (License# B500897) [(212) 709-3847]; a mortgage lender in West Virginia (License# ML-23946) [(304) 558-2294]; 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 a licensed Mortgage Lender and Servicer in South Carolina (License# MLS-3277) [(803) 734-2020]; is licensed in Alaska as a Mortgage Broker and Lender (License# AK3277) [(907) 269-4594]; 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]; and is licensed as a Mortgage Banker in Wisconsin (License# 212942BA) [(608) 261-7578]; is a licensed Residential Mortgage Originator in Minnesota (License# MN-MO-40020564) [(651) 296-6657]; is licensed as a Residential Mortgage Lender in Louisiana (License# 2713) [(225) 925-4660]; has a Mortgage Company License (License# MC.0025065) in Kansas [(785) 296-2266]; is exempt from licensing as a Wholesale Lender in Nevada [(775) 684-7060]; Sun West Mortgage Company, Inc. (NMLS ID 3277) has a Consumer Credit License in Alabama (License# 21015) [(334) 242-3452]; is licensed as a Supervised Lender in Maine (License # SLM9710) [(207) 624-8539]; 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]; 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 Banker in Nebraska as dba Cal State Funding, Inc. (License# 1908) [(402) 471-2171]; is licensed in Oklahoma as a Mortgage Broker (License# MB001619) [(405) 521-3653]; 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 a North Dakota licensed Money Broker (License# MB101661) [(701) 328-9932]; is licensed as a Mortgage Loan Company by the Department of Financial Institutions in Kentucky (License# MC71444) [(800) 223-2579 ]; is a First Lien Mortgage Lending licensee with Indiana Department of Financial Institutions (License# 11272) [(317) 232-3955]; an Oregon Mortgage Lender Licensee (License# ML-4599) [(503) 378-4140]; 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 a licensed Mortgage Lender in the District of Columbia (MLB3277) [(202) 442-7821]; 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 Banker and Mortgage Servicer by the Arkansas Securities Commissioner (License# 40431) [(501) 324-9265]; is a licensed Mortgage Banker in Iowa (License# 2007-0093) [(515) 281-4014]; 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]; Licensed by the Mississippi Department of Banking and Consumer Finance (License# 603/2008) [(800) 844-2499]; and licensed as a Residential Mortgage Lender in Wyoming (License# MBL-1902) [(307) 777-6483];

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.