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hecm policy 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

NEW HECM Rules Announced

Shannon Hicks
HUD Announced New Finalized HECM Rules for 2017 HUD announced their finalized rules enacting several policy changes to the Home Equity Conversion Mortgage (HECM) program which will go into effect later this year. What do these changes hold in store for interest rate caps, disclosure requirements, and new loan assignment

HECM Changes: For Better or Worse?

Shannon Hicks
Do Recent HECM Changes Help or Hurt our Industry & Consumers? Certainly one could argue that the recent changes to the federally-insured reverse mortgage have improved the reputation of the program in the eyes of financial planning professionals and the media alike. While additional consumer protections are admirable, do the

The Shrinking HECM?

Shannon Hicks
Challenges to HECM Growth & Measuring Success Reverse mortgage endorsement volumes have continued their slide after a brief recovery. Despite the increased acceptance of the press and financial planning community and the ever-growing need of soon to be retirees, the Home Equity Conversion Mortgage industry finds itself challenged to grow.

More HECM Changes Coming…

Shannon Hicks
[vimeo id=”167351240″ width=”625″ height=”352″] More Changes for HECM on Horizon from HUD If you think the dust has finally settled in the wake of numerous HECM changes, think again. HUD announced their intention to codify recent program changes while also adding new consumer protections to the federally-insured Home Equity Conversion

HECM: A Mortgage or Social Program?

Shannon Hicks
Is the federally-insured reverse mortgage a social program or a mortgage loan? The question should be addressed as it goes to the heart of recent program changes, restrictions and requirements. While few argue the HECM program is a social program many often lament that the loan no longer serves the

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