hecm changes

BREAKING- New Collateral Assessment may require 2nd appraisal

Shannon Hicks
   FHA’s New Collateral Risk Assessment will require a 2nd appraisal when determined that 1st appraisal is ‘inflated’ BREAKING- FHA announced today the enactment effective October 1st that all HECM loans must undergo a Collateral Risk Assessment to determine if the first appraisal is inflated or at market values. If

BREAKING: New Lending Limit Jan 1st

Shannon Hicks
$679,650 Lending Limit for HECMs after 1-1-2018 While only a small percentage of potential borrowers with high-value property values would qualify, there are a few important caveats you should keep in mind. One note, for more in-depth discussion I would recommend reading Jim Veale’s article in Reverse Mortgage Daily’s LinkedIn

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