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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

FHA Chief Talks Financial Assessment Delay, Reverse Marketers Reshape Message

In this week’s Reverse Focus podcast, Shannon Hicks discusses ... changes as a way to help reshape public perception of reverse mortgages. FHA Chief speaks to reverse industry in New Orleans HUD updat... 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

How will FHA’s new HECM appraisal rules affect reverse mortgage lending?

The reverse mortgage program is no stranger to change. For years it has weathered ... As part of this guidance, new HECM loans will undergo a confidential risk assessment, which FHA will use to determ... 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

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 ... the lender would have had to re... 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 Commissioner Montgomery to Deliver NRMLA Keynote Address

FHA Deputy ... state of the HECM program.” Before Montgomery speaks, reverse mortgage professionals will have a lot to catch up on the first two days. A wide variety of topics are on the agenda — incl... read more

HUD Announces Additional Measures to Manage Risk in FHA’s Reverse Mortgage Program

This is part of the Department’s continuing effort to reform, strengthen and protect FHA’s Mutual Mortgage Insurance (MMI) Fund. “The changes being announced will realign the HECM program with its ori... read more

It’s been one year since HUD shook up the reverse mortgage industry

“I can tell you that the changes FHA made to the principal limit factors and the adjustments to the HECM insurance premium we instated in 2017 were designed to help, but did not – and were not intende... read more

HECM reverse mortgages are attracting the wrong crowd

It is clear from the tone of the Galante letter that HUD/FHA is looking into the question of other changes that may be needed in the HECM program to protect FHA's insurance reserve. The second article ... read more