The political consideration of the CBO’s HECM report The unexpected news of the Congressional Budget Office’s report on reforming the HECM program created quite a splash among industry watchers. As the initial shock of the government watchdog’s recommendations sinks in, some are reading between the lines. One of the
The number of allgeged ‘foreclosures’ have raised the eyebrows of lawmakers tasked with overseeing HUD's budget and the HECM program...
Are More Rule Changes Needed or Does Data Need to Be Reexamined? The new year is upon us and we can leave 2016 in the rear view mirror, with the exception of HUD’s pending reverse mortgage rules. Are additional HECM reforms truly needed to strengthen the HECM program? In the
[ad#Network Funding] Without Congressional Authority FHA is Faced with Hard Choices [vimeo id=”71124155″ width=”625″ height=”352″] HUD would prefer to take the surgeon’s approach making fine tuned adjustments to the federally-insured reverse mortgage or HECM program. Presently it is left with the axe of harsh change unless Congress acts to give
For future reverse mortgage borrowers qualifying may become problematic. In a recent article in the New York Times “Rules for Reverse Mortgage Borrowers May Become More Restrictive” Christopher Mayer describes the likely approach...
The powerful lobying group AARP with it’s 38 million plus members has incredible clout in Washington DC. In a recent Senate hearing before lawmakers they suggested six changes to the federally insured reverse mortgage program.
The newly introduced “HECM Stabilization Act of 2013”, or Senate Bill 469, would give FHA the Congressional authority to make sweeping changes to the federally-insured reverse mortgage program.