SunWest Continues to Play Important Role in Reverse Mortgage MBS Market

image 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, the Cerritos, CA based reverse mortgage lender fulfills a strategic role in supporting liquidity in today’s troubled credit markets.

SunWest is able to automate the 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 said a company statement

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.

Reverse mortgage lenders issued a record setting $8.538 billion of Ginnie Mae HMBS in 2009.  

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