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Monthly Archives: June 2009
HUD Inspector General Working with McCaskill to Combat Fraud
Kenneth M. Donohue, inspector general for the Department of Housing and Urban Development, told a U.S. House of Representatives financial services subcommittee that he is working with Sen. Claire McCaskill and the Senate Special Committee on Aging to address fraud … Continue reading
MetLife Releases Study on Reverse Mortgages
As more seniors tap into their home equity to deal with the growing uncertainties of retirement, a report released by the MetLife Mature Market Institute calls for a comprehensive approach to educate and protect seniors on how to use home … Continue reading
HUD Updates Condo Approval Process
There could be a rush of reverse mortgage applications for condominiums in the next few months as the Federal Housing Administration eliminates spot loan approval for unapproved condo projects and potentially thousands of approved projects will need to be recertified. … Continue reading
HUD Secretary Says HECM Program Could Change
Housing and Urban Development Secretary Shaun Donovan told a Senate appropriations subcommittee today he is open to making changes to the Federal Housing Administration’s reverse mortgage program in order to lessen the risk to the FHA insurance fund. His comments … Continue reading