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HECM Standard and HECM Saver Loans Must Close by December 31, 2013
(Applicable to Correspondent Channel)

Dear Licensed Partner,

As you may be aware, Housing and Urban Development (HUD) through its Mortgagee Letter 2013-27 dated September 3, 2013, eliminated the HECM Standard and HECM Saver programs effective for case numbers issued on or after September 29, 2013. Additionally, HECM Standard or HECM Saver loans that have been assigned a FHA case number prior to September 29, 2013, must close on or before December 31, 2013.

Such HECM Standard and HECM Saver loans closed in compliance with Mortgagee Letter 2013-27 will continue to be eligible for purchase by Sun West.

If you have any questions, please contact your Account Executive at (855) OK-SUNWEST or (855) 657-8693.

Sincerely,

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone: (800) 453-7884

This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) in California holds a Finance Lenders Law License (#6030119), a Finance Lenders Law Branch License (#603I424) for the Scottsdale, AZ Branch Office (NMLS ID 359295), a Finance Lenders Law Branch License (#603I428) for the Corona, CA Branch Office (NMLS ID 363427), a Finance Lenders Law Branch License (#603J810) for the Guaynabo, Puerto Rico Branch Office (NMLS ID 516931), and a Finance Lenders Law License (#603K256) for the Cerritos, CA Branch Office (NMLS ID 1031622) approved by the California Department of Business Oversight, Phone: (866) ASK-CORP, and a BRE Real Estate Corporation License (#00793885), BRE Branch License Endorsements for the Corona, CA (NMLS ID 363427) and Cerritos, CA (NMLS ID 1031622) Branch Offices approved by the California Department of Real Estate, Phone: (877) 373-4542. Please refer to www.swmc.com and www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 18303 Gridley Road in Cerritos, CA 90703, Phone: (800) 453-7884.

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