Sun West Mortgage Company (SWMC) announced it has acted as a participant agent for Ginnie Mae’s HMBS program for more than $6 billion in reverse mortgages.
As participation agent, SWMC handles all of the Ginnie Mae specific reporting and remitting requirements through its ReverseSoft origination platform.
“Securitization is the key in today’s markets, leading to attractive investor yields while increasing liquidity in the capital markets. Through ReverseSoft, Sun West facilitates a seamless securitization solution for all scales of originators from private mortgage bankers and regional community banks to state and federally chartered banks,” said Pavan Agarwal, executive vice president, Sun West Mortgage Company.
The platform is able to handle the process of formatting loan data for transmission to the issuer’s document custodian and for delivery to Ginnie Mae through GinnieNET said SWMC.
ReverseSoft was recently integrated into SunSoft, which is SWMC’s platform that manages reverse and forward mortgages.
