AmStar Financial Services Inc., Miami, has announced plans to launch a reverse mortgage warehouse facility to serve small Federal Housing Administration correspondents originating FHA-insured Home Equity Conversion Mortgages. AmStar said it has reached an agreement in principle with Value Financial Mortgage Services whereby AmStar would use Value's platform to provide the infrastructure necessary for the launch. Value will commit up to 50% of its future production to the facility, AmStar said. AmStar can be found on the Web at http://www.amstarweb.net.
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