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FHA Announces Changes to HECM Claim Payments

FHA recently issued Mortgagee Letter 2018-08, announcing revised requirements for Home Equity Conversion Mortgage (HECM) servicers when they assign FHA insured reverse mortgages to the agency for clai... read more

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

Real estate trouble: Reverse mortgages deplete FHA insurance reserves

Unwilling to make new FHA-guaranteed loans and then being sued again under the False Claims Act, most large banks exited ... were overvalued by 3 percent or more, Montgomery announced that HECM revers... 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 ... 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 ... change the law so that “Spaniards will never again pay ... 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

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

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

Dad-of-two got £3,750 refund for £600 payday loan he couldn’t afford – are you one of the millions due money?

John Talbot, 38, from Peckham in London, was left struggling to pay the bills after ... Earlier this year, the FCA announced plans to crack down on "exceptionally high" rent-to-own products, as well a... 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

New and Proposed FHA & VA changes - HECMs In The News

So yes, the FHA has set out new rules to formalize recent improvements. The goal is to strengthen its Home Equity Conversion Mortgage (HECM) Program. "In addition to formalizing many of the structural ... read more