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Fha Changes Appraisal Policy On Hecm Properties | AutoTraffic
How will FHA’s new HECM appraisal rules affect reverse mortgage lending?
The reverse mortgage program is no stranger to change ... having an inflated property valuation. As part of this guidance, new HECM loans will undergo a confidential risk assessment, which FHA will us... read more
FHA to Mandate Appraisal Checks on Certain HECMs
In accordance with the mandate, FHA will assess appraisals on HECM originations to determine if a second appraisal is required. Under the policy, lenders are not permitted to approve or close a HECM b... read more
NRMLA Leaders Support New Reverse Mortgage Appraisal Rules
and that the appraisal change was the best of many solutions considered. The new policy was enacted after FHA reviewed 134,000 HECM appraisals with an AVM program, revealing that about 37% of appraisa... read more
Self-Employed UW Products; Appraisal and Valuation Updates
“Are we continually up-to-date on both federal and state regulations and changes ... FHA case numbers assigned on or after October 01, 2018 through September 30, 2019 FHA will perform a collateral ris... read more
Can This New Reverse Mortgage Alternative Help You?
Your home must also meet other FHA property guidelines and standards. Before the loan is approved, you must agree to consumer counseling and education as part of the overall HECM program. Changes made ... read more
FHA reverses course on ‘trailing spouse’ issue
For example, if heirs are actively involved attempting to refinance or sell the property ... lawsuits against HUD. The AARP cases (Bennett et al v. Donovan; Plunkett et al v. Donovan) are against HUD ... read more
FHA in “Fix-It Mode,” Stresses Commitment to Reverse Mortgages
After substantial Home Equity Conversion Mortgage program changes implemented ... because HECM properties tend to depreciate more than average properties, inflated appraisals among those properties ca... read more
Appraisal White Paper; Data Filter Product; Capital Markets News
Politics aside, it turns out that the tariff changes ... property sustained damage, all damage, regardless of the amount, must be repaired and the dwelling restored to pre-loss condition before the lo... read more
FHA plans to halve mortgage loan's 6% seller concession this summer
Seller concession rules allow buyers to look to the property seller to pay for some services and taxes connected with the transaction -- loan origination and local transfer fees, appraisals ... When F... read more
HUD Takes Action to Speed Resale of Foreclosed Properties to New Owners
With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of rec... read more
10 years later: How the housing market has changed since the crash
Pre-crash, buyers saw a good-faith estimate of their loan costs and, at the closing, a Truth-in-Lending statement and a HUD ... credit policies. "We have been underbuilding for years," says Dietz. "We ... read more
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FHA loan fallout extends its reach to reverse mortgages
As of April 1, reverse mortgages will change ... and a current home appraisal. Funds obtained from the reverse mortgage are tax-free. FHA insures the most popular reverse mortgage product called a Hom... read more
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