Automatic Web Traffic Generator

FHA Revises HECM Servicing Requirements

The Federal Housing Administration (FHA) has revised requirements for Home Equity Conversion Mortgage (HECM) servicers when they assign FHA-insured reverse mortgages to the agency for claim payment. ... read more

HECM Financial Assessment Streamlined With FHA Policy Shift

In Mortgagee Letter 19-01, released by the agency on Friday, FHA revises documentation requirements for the financial assessment of prospective borrowers and allow the use of vendors to verify ... read more

FHA takes steps to relieve balance sheet stress for reverse mortgage issuers

In a mortgagee letter, the agency updated guidelines for servicers when submitting a HECM to the Department of Housing ... the insurance to come through. Now, the FHA has taken steps to change that, ... read more

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 ... read more

FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

The amendments to HUD's Home Equity Conversion Mortgage (HECM ... not require FHA approval. Mortgagees must prepare a detailed Extension Request on their company letterhead. The request must include ... read more

FHA Gives Answers on New Reverse Mortgage Financial Assessment Updates

A week after updating its Financial Assessment and Property Charge guidelines ... revised growth rate for the Servicing Fee Set-Aside and updated Property Charge Guide) take effect for HECM case ... read more

FHA's Galante Asks Congress For Increased Authority To Hold Lenders Accountable

A Look at the Federal Housing Administration's 2012 Actuarial Report ... FHA programs, and there were substantial improvements in lender compliance, and a number of settlements with lenders and ... read more

FHA makes changes and additions to its reverse mortgage program

The Home Equity Conversion Mortgage The FHA’s ... agents provide servicing throughout the life of the HECM. Servicing includes sending you account statements, disbursing loan proceeds, and making ... read more

FHA Tackles New HECM Changes

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 ... Requirements The ... read more

It Just Got Easier to File an FHA HECM Claim

Yesterday, October 22, 2018, the Department of Housing and Urban Development (HUD) revised its requirements for lenders submitting Home Equity Conversion Mortgage (HECM) loans that have reached 98% of ... read more

Reverse mortgage industry reacts to FHA’s hint at future policy changes

But while no major changes were announced, Montgomery suggested that additional adjustments may be on the horizon, hinting at rules that would help FHA better track non-borrowing spouses and improve ... read more

Servicing News; FHA and VA Update; US Bank Exits Wholesale

"The long-standing alignment of tax payments with servicing cash flows is an integral feature ... Ginnie Mae began disclosing the HECM Loan MIP Rates based on the FHA policy change per Mortgagee ... read more