hecm changes

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

Researchers present HECM fixes last week

Shannon Hicks
 How do you fix the reverse mortgage and expand its availability? Researchers presented their ideas last week There’s no shortage of ideas when it comes to just how to strengthen the federally-insured reverse mortgage and expand its reach to older homeowners. Last Monday, the Brookings Institution hosted a symposium

Despite Scrutiny Some Changes Could Boost HECM Credibility

Shannon Hicks
Recently recommended servicing reforms may boost HECM image It’s a fact every salesperson and reverse mortgage professional must embrace- the vast majority of consumers inherently distrust salespeople. Will recent HECM changes help bolster the product’s legitimacy in the public eye? The irony is that every major purchase from buying a

HECM & Housing Finance Reforms

Shannon Hicks
A summary of recommended HECM changes In a statement issued last week we learned that the Department of Housing and Urban Development (HUD) in cooperation with the Treasury Department presented President Donald Trump with their plans for reforming the Nation’s housing finance system and the Home Equity Conversion Mortgage program.

BREAKING: Major HECM Changes Announced

Shannon Hicks
 HECM-to-HECM Refis Targeted, Appraisal Scrutiny & More Late last Thursday afternoon we received word that the Department of Housing and Urban Development (HUD) in cooperation with the Treasury Department presented President Donald Trump with their plan for reforming the Nation’s housing finance system and the Home Equity Conversion Mortgage

“One of the biggest drivers of losses in the HECM”

Shannon Hicks
The Urban Institute calls for loan servicing reform Despite the good news last month that the backlog of HECM assignments has been cleared, significant problems remain according to the Urban Institute. “Rather than continuing to narrow eligibility—and decreasing participation further—the FHA should focus on reducing costs. Addressing losses on assigned

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