FHA

The 2019 HECM FHA Report to Congress

Shannon HicksNovember 18, 2019November 25, 2019

by Shannon HicksNovember 18, 2019November 25, 201911077

What you need to know about FHA’s Report to Congress on the Home Equity Conversion Mortgage [Download transcript] Each year reverse mortgage lenders, originators and other mortgage market participants eagerly await the release of the Federal Housing Administration’s report to Congress on the financial status of the Mutual Mortgage

Pending HECM Changes: The Industry Waits

Shannon HicksOctober 11, 2019October 11, 2019

by Shannon HicksOctober 11, 2019October 11, 201905107

Proposed changes linger after Congressional hearing As one commenter on HECMWorld put it ‘The HECM program got through the hearing all but unscathed’. Very true considering our long history of continued reductions in Principal Limit Factors and restrictions on how proceeds are distributed. That being said, we have several

Loan Limits: A ‘What If” Scenario

Shannon HicksSeptember 16, 2019September 17, 2019

by Shannon HicksSeptember 16, 2019September 17, 201901136

The potential removal of the HECM’s national loan limit presents disparities in neighboring counties The updated Housing Finance Reform Plan is ambitious in both its scope and impact on the housing industry and more particularly reverse mortgage industry participants. One of the proposed changes to the HECM (Home Equity Conversion

Examining the HECM’s Viablity

Shannon HicksApril 8, 2019April 8, 2019

by Shannon HicksApril 8, 2019April 8, 201911044

Truth be told, the HECM is not the only loan that is dependent on the government [Download transcript] The United States is in the mortgage business and in a big way. I have had to repeatedly remind myself that Uncle Sam’s reach in mortgage lending goes far beyond Home

Trump to HUD: Examine Viability of HECM Program

Shannon HicksApril 1, 2019April 3, 2019

by Shannon HicksApril 1, 2019April 3, 20195 2986

The HECM tops the list of Trump Administration’s HUD reforms [Download transcript] President Trump has directed HUD to examine the ‘viability’ of the Home Equity Conversion Mortgage and to take other steps to strengthen FHA and the housing GSE’s Fannie Mae & Freddie Mac…

Tip of the Iceberg: HECM Occupancy Abuses

Shannon HicksDecember 3, 2018December 2, 2018

by Shannon HicksDecember 3, 2018December 2, 20186 4331

HECM abuses when borrower no longer occupies the property pose risk to FHA’s MMI fund How quickly are HECM properties sold or called due and payable when the last borrower has died or moved out? More importantly, how many properties with a HECM are sitting on the books for years

FHA’s MMI Fund Report Explained

Shannon HicksNovember 19, 2018November 20, 2018

by Shannon HicksNovember 19, 2018November 20, 201801110

[Download full report] [View 1-minute video summary] [Full Actuarial Review] A look behind the numbers and factors that shaped the FHA MMI Fund Report to Congress A recap of FHA’s and HUD’s media conference call, an examination of HECM risks, and how the value of the fund is calculated.

From Dependency to Diversification

Shannon HicksNovember 13, 2018November 12, 2018

by Shannon HicksNovember 13, 2018November 12, 20182 799

Not too many years ago there was a time when the typical reverse mortgage professional could confidently build their business on a singular loan; the Home Equity Conversion Mortgage. That business model has become increasingly difficult to sustain in recent years. While some continue to succeed only offering the federally-insured

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The 2019 HECM FHA Report to Congress

Pending HECM Changes: The Industry Waits

Loan Limits: A ‘What If” Scenario

Examining the HECM’s Viablity

Trump to HUD: Examine Viability of HECM Program

Tip of the Iceberg: HECM Occupancy Abuses

FHA’s MMI Fund Report Explained

From Dependency to Diversification

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