preview

The Licensee Case Summary

Satisfactory Essays

The Licensee funds the origination and purchase of reverse mortgage loans through three warehouse credit lines totaling $210,000,000The Licensee had sufficient remaining credit on each line at the end of every 2015 quarterly reporting period. The Licensee securitizes all loans upon completion of the securitization; the warehouse line is paid in full, with the residual balance transferred to the Licensees operating account. If for any reason, the investors decline to purchase a warehouse loan, the Licensee is obligated to liquidate the loan from the warehouse line by using its own funds.. The Licensee liquidity is sufficient.

Get Access