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Abandoned HECM Properties

Shannon Hicks
 Accounts of abandoned HECM properties highlight significant servicing problems for assigned loans “My mother passed 3 years ago and she had a reversed mortgage on her home that funds ran out several years ago. All documents were sent to the servicing company (death certificate, copy of the trust) in 2016. Since


Shannon Hicks
 Sometimes even professionals get it wrong Even experienced reverse mortgage professionals can find themselves explaining the key features of the HECM incorrectly to homeowners and professionals. What are the commonly misunderstood features?

BREAKING: HECM Lending Limit Increased

Shannon Hicks
 HECM lending limits increased for the 4th consecutive year Tuesday, December 3rd FHA released Mortgagee Letter 2019-20 announcing the new maximum claim amount (or lending limit) for Home Equity Conversion Mortgages. The new limit of $765.600 is in effect for the calendar year 2020 and represents a nearly $39,000

Despite Improvements a Call for HECM Structural Changes

Shannon Hicks
 While the FY 2019 FHA Report shows significant improvement in the HECM program’s value, FHA calls more ‘structural changes’ [Download transcript] As we gather around the table this Thanksgiving there’s one thing to be grateful for: FHA’s most recent report to Congress showing a showing significant improvement in the uses cookies to improve user-experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Cookies View Policy

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