Liberty Reverse Mortgage Releases Proprietary Jumbo Loan

Liberty Reverse Mortgage announced today the release of its first proprietary Reverse Mortgage product. The Liberty Preferred(TM) loan gives Reverse Mortgage originators the opportunity to provide their clients a jumbo alternative that can be used for home purchase and higher home values.

“As our wholesale business continues to expand, having a growing suite of products is critical to give our Broker Partners flexibility in serving the increasing needs of the senior client base,” said Jesse Passafiume, Vice President of Wholesale and Correspondent Lending for Liberty. “The Liberty Preferred(TM) loan is just one of many products we will be rolling out in the coming months. Our new partnerships are providing the horsepower we need to accelerate product development.”

The Liberty Preferred(TM) features include:
– Home purchase option
– No mortgage insurance premium
– Loans on homes up to $4 million in value
– Aggressive premium pricing allowing Brokers to offset borrowers’
closing costs.

Found here.

Sphere: Related Content


One Response to “Liberty Reverse Mortgage Releases Proprietary Jumbo Loan”

  1. John P. Says:
    January 4th, 2008 at 12:04 pm

    When it comes to deciding whether a Reverse Mortgage is a good investment or not, many senior homeowners don’t really understand their options. For some, a reverse mortgage is a way out of debt, or a way to pay for a child’s education. Others see a Reverse Mortgage as just another way for the bank to make money. The truth of the matter is, deciding whether a Reverse Mortgage is a good investment or not depends on the borrowers unique situation. This was definitely true for my aging parents, but it turns out, they made a good decision. My siblings and I had no interest in “inheriting” my parent’s house and so it made sense for them to get a reverse mortgage. Once my parents pass on, the bank will get the house and all is well. In the meantime, the bank is paying them a nice monthly income which helps them pay bills and also to take a few vacations per year. They used M&T Bank’s Reverse Mortgage, and the number there is: (888) 253-0712.

Leave a Comment