Automatic Website Traffic RSS

FHA Revises HECM Servicing Requirements – NMP

In the new requirements, FHA-approved HECM servicers can use alternative supporting documentation in lieu of previously required materials that often resulted in delayed claim processing.For example, ... read more

FHA clarifies certification requirements to streamline HECM lending - HousingWire

FHA clarifies certification requirements to streamline HECM lending Proposes updates to annual and loan-level docs, does away with "jumbled legalese" May 9, 2019, 4:02pm by Jessica Guerin ... read more

FHA issues extensive new reverse mortgage servicing updates - HousingWire

The Federal Housing Administration (FHA) on Thursday published new Home Equity Conversion Mortgage (HECM) servicing guidance in response to industry feedback. In Mortgagee Letter (ML) 2023-23, FHA ... 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

HUD Revamps HECM Rules for Efficiency - National Law Review

Last week, the Department of Housing and Urban Development (HUD) revised multiple regulations and requirements related to servicing Home Equity Conversion Mortgages (HECMs, more commonly known as ... read more

FHA Reverse Mortgage Loans - Investopedia

These loans are not government-insured but can have higher lending limits than the FHA’s current 2025 HECM limit of $1,209,750. Another type of reverse mortgage is the single-purpose reverse ... read more

FHA eases document requirements for reverse mortgage insurance claims

The relaxed requirements, which take effect immediately, are designed to give servicers of Home Equity Conversion Mortgages more options when filing claims and speed up the payment process, the FHA ... read more

Eligibility Requirements For A HECM Borrower And Measuring Available Credit

Let's review what the basic requirements to become an eligible HECM borrower are. Reverse mortgages use their own jargon, and it is important to understand the meaning of three key terms: (1 ... read more

Just Approved: FHA allows “drive-by” appraisals for HECM reverse mortgage because of COVID-19 - SFGATE

Just Approved: FHA allows “drive-by” appraisals for HECM reverse mortgage because of COVID-19. Updated Sep 7, 2020 12:28 p.m. Nancy Rothstein. Mortgage loan originator: ... read more