Industry expert, author, and founder of Understanding Reverse contributed a column to Housing Wire’s Reverse Mortgage Daily that reveals two often overlooked facts about the HECM’s expected rate used to determine the federally insured reverse mortgage’s principal limit.
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[HUD/FHA]
HUD is seeking public feedback for planned changes to the loan origination documents for FHA-backed Home Equity Conversion Mortgages. [Listen for details]Â [Federal Register Post]Â
Other Stories:Â
[California Mortgage Relief] Time is running out for California reverse borrowers needing assistance with property charges.
[HUD] HUD announces the sales of notes for vacant HECM properties where all borrowers have passed away.Â
[Housing Wire]
U.S. Senator Mike Braun wrote a letter to Ginnie Mae’s president asking for policy solutions to prevent a collapse of the secondary market HMBS program. [Listen for details]Â
Other Stories:Â
[Reverse Market Insight] Our monthly segment of RMI’s Market Minute.
[Journal Courier]Â Is downsizing worth it for retirees?
[Cleveland.com]
Unable to afford healthcare in retirement? Here are some options retirees should consider in addition to a reverse mortgage. [Listen for details]Â
Other Stories:Â
[Redfin] Home listings surge in biggest increase in 3 years: Asking prices drop.
[CNBC]Â No Rate Cut: The Fed holds rates steady after hot inflation report.
[Kiplingers]
Six financial professionals from Kiplinger Advisor Collective submit questions homeowners should consider before getting a reverse mortgage. Spoiler alert- they’re actually fair-minded..
Other Stories:
[Atlantic Black Star Journal] Yet another potentially misleading reverse mortgage foreclosure story.
[National Mortgage News] Nation’s largest mortgage lender shutters mortgage origination platform.
HSomR
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[Housing Wire]
One Bay Area county approved reduced fees for accessory dwelling units (ADUs) to help ease the housing crunch for those in transition, especially seniors. Â
Other Stories:
[Richmond Biz Sense] A judge determines former Live Well CEO’s criminal restitution.
[Housing Wire]Â Traditional mortgage demand drops to a record low.
[Housing Wire]
A suspected fraudster who may have defrauded multiple elderly victims was arrested thanks in part to an alert reverse mortgage professional.
Other Stories:
[Reverse Market Insight] RMI’s Jon McCue returns to explain the latest reverse mortgage trends in our monthly installment of the Market Minute.
[Housing Wire] Fairway Independent Mortgage’s reverse mortgage division is making big changes in its strategy and key staffing.
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[FHA/HECMWORLD]
After a long delay the most recent FHA Single Family Production report was released earlier this month revealing November HECM application activity.Â
Other Stories:
[BankRate] Is the housing market going to crash in 2024? Here’s what the experts are saying.
[Motley Fool] No Soft Landing: Citi Bank’s chief economist sees an impending recession.
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[PR Wire India]
Sometimes it’s okay to be second, as in 2nd Place, in retirement.
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Other Stories:
[Housing Wire] Some reverse originators report a strong start to 2024
[Market Watch]Â Should my 87 year-old mom owing $425K on a $1M home get a reverse mortgage?
