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Despite Improvements a Call for HECM Structural Changes

Shannon Hicks
 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 Hicks
 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 Hicks
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.

HECM Changes: Two risks remain

Shannon Hicks
 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

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