Industry Changes

Despite Improvements a Call for HECM Structural Changes

Shannon HicksNovember 22, 2019November 25, 2019

by Shannon HicksNovember 22, 2019November 25, 20195 809

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

HUD Secretary committed to HECM changes

Shannon HicksSeptember 13, 2019September 13, 2019

by Shannon HicksSeptember 13, 2019September 13, 201901121

Secretary Ben Carson’s prepared remarks for recent Senate hearing confirm HUD’s mission to enact key HECM reforms While politicians squabble over the government’s role in making homeownership a reality, older homeowners who wish to use their home’s value to age in place were left out of the debate in

HECM & Housing Finance Reforms

Shannon HicksSeptember 9, 2019September 11, 2019

by Shannon HicksSeptember 9, 2019September 11, 20192 1118

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.

October changes?

Shannon HicksAugust 19, 2019August 19, 2019

by Shannon HicksAugust 19, 2019August 19, 20190783

Take the survey and make your best guess It’s that time of year when we hold our collective breath in the hopes that HUD will be gentle when it comes to enacting further changes to the Home Equity Conversion Mortgage. There have been reports that the Financial Assessment has reduced

HECM Changes: Two risks remain

Shannon HicksOctober 8, 2018October 5, 2018

by Shannon HicksOctober 8, 2018October 5, 20188 1687

The HECM’s philosophy shapes risk management measures & future reforms Few are asking an underlying question that will shape every effort to curb future losses or HECM claims against the Federal Housing Administration’s Mutual Mortgage Insurance Fund. That question is if the Home Equity Conversion Mortgage is a true