Automatic Website Traffic RSS

Reverse mortgage program remains threat to FHA’s financial health

WASHINGTON — The mortgage industry is closely watching the Federal Housing Administration’s reverse mortgage program as the agency prepares to release its annual actuarial report sometime this month, ... read more

FHA Commissioner: HECM Program Health is Encouraging

In late 2018, the reverse mortgage portion of the FHA’s MMI Fund showed that the program continued to drag on the overall government-backed portfolio, according to an annual actuarial review. read more

What do HUD’s reverse mortgage changes mean for FHA mortgage ...

So when the FHA says it “is committed to ensuring its mortgage insurance programs remains viable and effective in the long term for all parties involved, especially our taxpayers,” the health ... read more

Propriety Reverse Mortgage Products Could Eclipse FHA's HECM Program in ...

New mortgage products focused on home equity release for seniors primed for a market boost as sales falter with the government's HECM. read more

FHA needs $1.7B to cover reverse mortgage losses - USA TODAY

Older Americans can borrow against their homes in the reverse mortgage program FHA had big losses as many borrowers took lump-sum payments and later had financial difficulties The agency has ... read more

Just Approved: FHA reverse mortgage program helps retiree stay home

The FHA Reverse mortgage program is available to homeowners over the age of 62. They can live out their days in their own home, mortgage free. read more

FHA puts new limits on reverse mortgage program for seniors

Limits on the amounts they can draw down, higher insurance fees and rigorous financial vetting of applicants are likely to make fewer seniors eligible for reverse mortgages. read more

FHA reverse mortgage applicants may be affected by limits on payouts ...

Reporting from Washington — Declining home values have put a serious squeeze on the Federal Housing Administration’s reverse mortgage program for seniors 62 and older. read more

FHA to Tighten Mortgage Programs - WSJ

The Federal Housing Administration said it will tighten mortgage standards for certain homeowners and limit the amount of money that can be borrowed through its popular reverse-mortgage program as ... read more

FHA cuts reverse mortgage program - Boston Herald

Declining home values have put a serious squeeze on one of the mortgage market’s most popular and fastest-growing financing concepts: the Federal Housing Administration’s reverse mortgage ... read more

Reverse mortgage losses threaten taxpayers, borrowers, FHA says

The single family insurance program has been generally self-sustaining since 1934 with the exception of a $1.7 billion infusion in 2013, which was largely because of reverse mortgages, officials said. read more