A long-term perspective of HECM endorsement volume Our nation’s capital is often referred to as the swamp in part for its political factions, bureaucratic battles and interagency turf wars. Recently two U.S. senators recently vowed to block any nominees for several key vacancies at the Department of Housing and Urban
The number of allgeged ‘foreclosures’ have raised the eyebrows of lawmakers tasked with overseeing HUD's budget and the HECM program...
Before any further changes or cutbacks are enacted, the source of ongoing HECM losses must be identified.
HECM Final Rule Changes Begin Tommorw- Part 2: Interview with RMI’s John Lunde HUD’s HECM Final Rules go into effect tomorrow (9/19/2017) and include in part: For fixed rate HECMs, only a full-funded LESA may be used. Partially funded LESA’s will distribute LESA funds two times a year to the
Follow up on two biggest questions on HUD’s changes to HECM We had over 700 participants in last week’s webinar discussing HUD’s dramatic changes to the HECM program. Two of the most popular questions are answered along with the surprising results of our in-session surveys.
Without any prior warning or industry comment, HUD formally announced an increase of upfront insurance premiums for all borrowers, regardless of initial distributions, to 2% upfront, and .5% for ongoing mortgage insurance premiums. The agency stated the need to ensure the continued economic sustainablity of the HECM program and its
Scammer sentenced, Carson talks reverse mortgages, Walter faces possible de-listing from NYSE In this week’s edition: HUD Secretary Ben Carson supports reverse mortgage program while speaking for the need for reform. The New York Stock Exchange puts Walter Investment on notice. US Postal Service nabs reverse mortgage scammer in a