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FHA Commissioner Outlines Recent Updates and Discusses New Policy Initiatives

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 borro... read more

HUD Clarifies Reverse Mortgage Changes, Bailout for FHA

In this week’s Reverse Focus podcast, Shannon Hicks discusses a recent article from ... in the line of credit is calculated over time. HECM changes to spark a reverse mortgage industry revival? FHA to ... read more

The Risks Of Reverse Mortgages

My last couple of posts, beginning with The Mortgage is Dead; Long Live the Reverse Mortgage, have extolled the virtues of the improved FHA HECM reverse mortgage ... In What's the Deal with Reverse Mo... read more

The Impact of FHA’s New Loan Limits

Clarifying this increase, HUD said, "FHA’s current regulations implementing the National Housing Act’s HECM limits do not ... property is located." These changes in FHA's floor and ceiling ... read more

New Reverse Mortgage Rules May ‘Trim’ Demand, HUD Updates Counselors

Shannon Hicks discusses recently updated guidance from the Department of Housing and Urban Development (HUD) regarding Home Equity Conversion Mortgage (HECM) counseling. The guidance arrives in the wa... read more

FHA Tackles New HECM Changes

the Federal Housing Administration (FHA) has announced new HECM program policies. Two Mortgagee Letters were published; a Mortgagee Letter announcing changes to the HECM program and a Mortgagee Letter ... read more

FHA, VA Updates; Ginnie Mae Overview

Ginnie Mae will consider potentially ... 2017; and The changes to the HECM Mortgage Insurance Premium Rates and Principal Limit Factors announced in Mortgagee Letter 2017-12 on August 29, 2017. While ... read more

More borrowers turn to proprietary reverse mortgages

For years, 95% of the reverse mortgage market has been dominated by the Federal Housing Administration’s HECM offering. This past year saw a wave of proprietary reverse mortgage loans hit the market a... read more

FHA Issues 2018 Annual Report to Congress Addressing its MMI Fund

the Annual Report noted that FHA has implemented a number of changes to strengthen its HECM program and will continue to monitor its performance. HUD’s press release is available here. The 2018 Annual ... read more

Ocwen Financial: Detailed History, Valuation, And The Road To Profitability

Ocwen will earn $1/sh 2017 EPS and the share price will rise to $6.75 There is an FHA private label portfolio refi opportunity ... 2012 Ocwen National Mortgage Settlement on page D13 - D14 discusses h... read more

Reverse mortgage industry reacts to David Stevens' criticism

In a recent LinkedIn post, Stevens blasted HECM lenders for “outrageous profits” and a “predatory sales approach,” saying that the product's issues kept him awake at night during his time as FHA commi... read more