LESA, or Life Expectancy Set Aside, is a fairly common practice. If a lender determines a borrower may have difficulty meeting the obligations of the loan, the borrower may be required to “set aside” a portion of the loan proceeds.

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Line of Credit

Reverse mortgages allow retired homeowners to tap into the...

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Loan Origination Fee

When you apply for a reverse mortgage, lenders must conduct...

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What is a Lender Credit?

What is a Lender Credit?

Many banks and mortgage lenders often offer borrowers lender credits to help pay for closing costs. Here we’ll discuss lender credits in...

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