Value Financial Closes HECMs for Purchase, Ready to Accept Retail and Wholesale Applications Now

HUD's new HECM for Purchase Program gives seniors the ability to acquire a home without having to make a monthly payment. However, very few Lenders have procedures in place to get these loans closed smoothly.

(PRWEB) April 10, 2009 -- Last October HUD and FHA announced a "HECM for Purchase" enhancement to the successful FHA HECM Reverse Mortgage Program. The enhancement went into effect January 1, 2009. Few lenders have offered this option because of confusion in its terms. Clarifications have been issued by HUD.

As a result, Value Financial has begun to originate and close both retail and wholesale HECMs for Purchase.

Reverse Mortgage Specialists who want to specialize in this niche are encouraged to contact Value Financial and discuss employment opportunities. Please email us at hr(at)valuefinancial.net.

HUD Correspondents who need a place to submit their loans for underwriting are also encouraged to contact Value Financial. Please email us at correspondent(at)valuefinancial.net.

You can view Value Financial's public web site at www.valuefinancial.net.

Value Financial is a top 20 DE Lender, originating over $100 million in reverse mortgages last year.

###