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FHA Eases Requirements for HECM Claim Payments

In an effort to streamline ... the FHA can achieve more timely claims payments to the servicers. “Streamlining the HECM claim payment process makes us more responsive to participating lenders and help... read more

FHA Issues New Requirements

In a move to streamline and speed up the payment process for home equity conversion mortgage (HECM ... Brian Montgomery. The FHA said that its new claims payment requirements would ensure that lenders ... read more

FHA Revises HECM Servicing Requirements

The Federal Housing Administration (FHA) has revised requirements for ... “Streamlining the HECM claim payment process makes us more responsive to participating lenders and helps continue our effort t... read more

Federal Housing Administration (FHA) Section 232 Healthcare Mortgage Insurance Program: Partial Payment of Claims

SUMMARY: This rule amends the regulations governing FHA's Section ... state licensing requirements. END FOOTNOTE One process well-established and long used in HUD's multifamily housing programs is acc... read more

FHA Announces New Loan Limits to Take Affect January 1

Borrowers with existing FHA insured mortgages may continue to utilize FHA’s Streamline refinance program regardless of their ... known as the Home Equity Conversion Mortgage (HECM), will continue to h... read more

FHA Program Status, Evolution, Updates, and Lender Changes

Effective immediately, for all partial claim ... FHA and VA products for Veterans and eligible Borrowers with FICOs from 500 - 549 or with no FICOs scenarios. Similar to the standard FHA and VA progra... read more

FHA Reverse Mortgage Appraisal Guidelines

HECM allows senior citizens to access their paid-off, or nearly-paid, home's equity. Borrowers can supplement their income with installment payments from the lender ... HUD creates underwriting guidel... read more

New and Proposed FHA & VA changes - HECMs In The News

So yes, the FHA ... HECM is paid in full, foreclosed on, or a Deed-in-Lieu (DIL) is executed rather than until when the mortgage contract is terminated. It would include utility payments in the proper... read more

FHA's 2014 Loan Limits to Change in Nearly 650 U.S. Counties

Borrowers with existing FHA insured mortgages may continue to utilize FHA’s Streamline refinance program regardless of their ... known as the Home Equity Conversion Mortgage (HECM), will continue to h... read more

FHA Publishes Responses to Comments on Rule Delaying Foreclosure on Non-Borrowing Spouses

The Federal Housing Administration (FHA) responded in the Federal Register on Wednesday to comments on the alternative path to claim payment ... requirements for surviving non-borrowing spouses (or an... read more

HUD Publishes Additional Guidance Regarding HECM For Purchase

There have been loads of questions regarding the HECM for ... cease making payments on the previous mortgage. According to ML 09-11, the maximum claim amount is used to determine the principal limit a... read more

House Financial Services Subcommittee on Insurance, Housing and Community Opportunity Hearing

The original HECM demonstration allowed HUD to originate 2,500 loans under the program. The intent of the program was to provide FHA mortgage insurance on ... arrears subject to possible HUD claim pay... read more