Reverse Lender Unveils LIBOR 85

Lender Lead Solutions, a reverse mortgage services company based in Melville, N.Y., has announced an expansion of its Flex Margin Advantage line of reverse mortgages.The new LIBOR 85 product, which boasts an 85-basis-point margin over the London interbank offered rate, pays a premium to the broker and provides greater liquidity to the consumer, the company said. The new product "has comparable principal limits to the CMT 100 and CMT 150, but provides a lower margin on the interest index" than products based on the constant-maturity Treasury, said David Peskin, chief executive officer of Lender Lead Solutions. The Flex Margin Advantage product line enables brokers to structure rates and loan terms on monthly Home Equity Conversion Mortgage loans to better fit the needs of consumers, according to the company. The reverse mortgage lender can be found online at http://www.lenderleadsolutions.com.