Lender Lead Solutions’ LIBOR-Based Reverse

Posted by Orb Staff on October 03, 2007 No Comments
Categories : Residential Mortgage

Lender Lead Solutions, a reverse mortgage services company based in Melville, N.Y., has introduced a Home Equity Conversion Mortgage (HECM) based on the London Interbank Offered Rate (LIBOR) index. This is the first reverse mortgage product based on the LIBOR index instead of the Constant Mature Treasury (CMT).

"The LIBOR-based HECM provides brokers added margin while giving them the flexibility to structure rates and loan closing costs to meet the individual needs of borrowers," says David Peskin, CEO of Lender Lead Solutions.

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