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FHA Eases Requirements for HECM Claim Payments

“Streamlining the HECM claim payment process makes us more responsive to participating lenders and helps continue our effort to put the program on a more financially viable path,” FHA Commissioner Bri... read more

FHA Issues New Requirements

In a move to streamline and speed up the payment process for home equity conversion mortgage (HECM) claims, the Federal Housing Administration (FHA) announced on Monday that it was revising the requir... read more

Construction and Data Validation Products; FHA, VA, HECM Changes

Iberiabank Corp and two subsidiaries agreed to pay $11.69 million to resolve allegations they submitted false claims for ... Equity Conversion Mortgage (HECM) Limits. Effective Thursday, November 30, ... read more

Reverse mortgage securities market shrinks

Reverse mortgage volume has taken ... occur when a loan reaches 98% of its maximum claim amount, at which time the issuer purchases the HECM out of the HMBS and assigns the active HECMs to HUD to rece... read more

Trump is ignoring the law to keep the shutdown from causing him political pain

One day after the head of the Mortgage Bankers Association pressured a high-ranking government official to restart income verifications for mortgages because it was hurting the industry, IRS announced ... read more

Trump’s offer of temporary protection for immigrants to end shutdown is a ‘non-starter,’ say Democrats

But the President also sprinkled his speech with his hardline immigration rhetoric and made questionable claims about how the wall would ... some of whom fear they may not be able to make mortgage, re... read more

New York Mortgage Trust - Bigger Cushion For The Fat Yield

Generally speaking, they are leveraged spread investors, funding their portfolio at one rate (often in the repo markets) and investing at a higher rate (in the mortgage markets). Any change in the ... read more

HUD Updates MIP for HECM Program

In a statement issued by HUD, the department noted that the initial mortgage insurance premium (MIP) will become two percent of the maximum claim ... Carson announced the changes on Twitter. “Given th... read more

RMF Announces New HECM Choice Reverse Mortgage Payment Plan Options

Following the release of a new Home Equity Conversion Mortgage, the “HECM Choice” in December, Reverse Mortgage Funding announced this week it has expanded the product to offer all payment plans at lo... read more

Reverse Mortgage Changes

The most popular version of the loan is the FHA insured Home Equity Conversion Mortgage, also called the HECM. For people considering this type of loan the Federal Housing Administration has made some ... read more

Spanish PM announces legal changes to make banks pay mortgage tax

The Spanish government has reacted to the Supreme Court’s decision to make borrowers bear the cost of a controversial mortgage fee by announcing that it will change the law so that “Spaniards will nev... read more