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FHA Commissioner Talks HECM Program Benefits to Seniors, Potential Changes

Because of the government-insured nature of the Home Equity Conversion Mortgage (HECM) program, many of the biggest and most influential changes to it come from the federal government ... read more

FHA Commissioner Outlines Recent Updates and Discusses New Policy ...

These include a new product option for FHA’s Home Equity Conversion Mortgage (HECM), changes to our Mortgage Insurance Premiums (MIPs), and new credit score and down payment requirements for FHA ... read more

Exclusive: FHA Commissioner discusses working with the reverse mortgage ...

In the second part of our exclusive sit-down with Julia Gordon, she talks about collaborations between FHA and reverse mortgage professionals and the trajectory of HECM program performance August ... read more

FHA Tackles New HECM Changes – NMP

As part of an ongoing effort to strengthen the Mutual Mortgage Insurance Fund and preserve the financial soundness of the HECM program, the Federal Housing Administration (FHA) has announced new HECM ... read more

FHA proposes earlier HECM claim submissions | JD Supra

FHA explained that the documentation changes would apply to HECM Assignment Claim Type 22, which “is an option that allows a HECM servicer to assign a mortgage that is in good standing to FHA in ... read more

HUD Seeks Comment on Proposed Notice to Change HECM for Purchase ...

Takeaway The Proposed Notice is an effort by the FHA to more closely align the HECM for Purchase program with its forward mortgage programs. read more

FHA Changes Appraisal Policy on HECM Properties – NMP

According to the FHA, the new policy is designed to reduce risks to its Mutual Mortgage Insurance Fund and protect the health of the FHA’s HECM program. In a 2017 evaluation, the Department of Housing ... read more

Propriety Reverse Mortgage Products Could Eclipse FHA's HECM ... - Forbes

New mortgage products focused on home equity release for seniors primed for a market boost as sales falter with the government's HECM. read more

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

As an update to Program Update 17-29, Lenox/WesLend will now be accepting loan submissions for FHA and VA files using 2018 loan limits. read more

Everything You Need to Know About HECM Loans - Yahoo

HECM loans also have a cap on how large they can be -- for 2022, the maximum FHA claim amount is $970,800. For homeowners who want to take out a larger reverse mortgage, another option is available. read more

How HUD Could Rejuvenate The HECM Program - Forbes

This article proposes changes in HUD policies that would support an enhanced HECM that is part of an integrated retirement plan. read more

Recent changes in the HECM reverse mortgage program

My inbox recently has been crowded with letters from seniors who are anxious about impending adverse changes in the HECM reverse mortgage program. Many of them were wondering whether they should ... read more