HUD

Pending HECM Changes: The Industry Waits

Shannon Hicks
 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 Hicks
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

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

HECM Changes in 2019: Inspector General’s Report Provides Clues

Shannon Hicks
 Inspector General report points to specific risks In October HUD’s Office of the Inspector General released their report which telegraphs what changes to the HECM we may see in 2019. If you were to ask ten HECM professionals what their outlook was for 2019, you would likely get ten

NRMLA Recap: Commissioner speaks to industry- More Changes Coming

Shannon Hicks
 FHA Commissioner, Proprietary Reverse Mortgages, and Market Branding highlight 2018 NRMLA Annual Meeting Despite a year of setbacks for many, the 2018 National Reverse Mortgage Lenders Association Annual Meeting not only signaled a retooling of our industry but the course that lies before us.  [there is no video transcript

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