Automatic Website Traffic RSS

HUD: Falling HECM Volume, Principal Limits Reflect Latest Program Changes

Looking at HECM volume for the fiscal year through August 31, 2018, endorsement numbers were down from approximately 55,000 loans to 45,000 loans from the same period ending in 2017, and ... read more

Impact of the Economic Crisis on the HECM Program

The U.S. Department of Housing and Urban Development (HUD) endorsed its first HECM loan in 1989 and has endorsed over 525,000 loans since, with about 400,000 of those endorsements occurring ... read more

HUD Updates MIP for HECM Program – NMP

HUD Updates MIP for HECM Program. Aug 29, 2017. By Phil Hall. The Department of Housing and Urban ... reduced from the prior schedule for all borrowers from 1.25 percent,” the HUD announcement added. ... read more

How HUD Could Rejuvenate The HECM Program - Forbes

This article proposes changes in HUD policies that would support an enhanced HECM that is part of an integrated retirement plan. Such integration will generate the following benefits: Larger ... read more

Reverse mortgage professionals weigh in on 2024’s new HECM limit - HousingWire

“HECM volume fell 33% from 2021 to 2023, even though HUD raised the MCA 18% in 2022 and 11% in 2023. It is unlikely raising it another 5.6% for 2024 will help lenders originate more HECMs. read more

Changes May Be Coming To Reverse Mortgage Rules, But What Do They Mean? - Forbes

HUD Secretary Ben Carson delivered written testimony in September, which noted:. 1. A recommendation that Congress amend HECM's loan limit structure to “reflect variation in local housing ... read more

HECM to Undergo Major Changes – NMP

Big changes to reverse mortgages this month. What will HUD impose? Will they combine the Standard and Saver loans? If so, what will that mean? Are you waiting to see? HECM, HUD, Congress, Senate ... read more

Recent changes in the HECM reverse mortgage program - Daily Herald

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 wondering whether they should ... read more

HUD revamps reverse mortgage program fees to stem losses

This new fee structure will go into effect Oct 2. "Given the losses we’re seeing in the HECM program, we have a responsibility to make changes that balance our mission with our responsibility to ... read more

Impending Changes in the HECM Reverse Mortgage Program - Sarasota Herald-Tribune

The good news is that the impending changes are modest and should not deter anyone from taking an HECM. Increase in Upfront Mortgage Insurance Premiums Borrowers pay two insurance premiums on an HECM. read more