Reverse Mortgage Changes Launched!

by Michael Shohoney October 4, 2010 09:29
Today Math Corporation would like to announce that the changes required to be in effect on October 4 have been launched on our web site.  eZMathReverse has been altered to include the HECM Saver product.  The new principal rate factors have also been incorporated.  If you are writing reverse mortgage business, you need to be cognizant of the changes and make sure that you select the proper options when calculating those products.  Pay particular attention to the rates in effect for any standard HECM product.  If the loan is being written after October 3, you must use the new principal rate factors.  Also, you cannot write a HECM Saver unless it is originated after October 3.  As always, if you have any questions, contact us.