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
To say that HUD’s most recent changes to the Home Equity Conversion Mortgage were met with mixed reviews would be the understatement of the decade.
Stabilizing the HECM program? HUD signaled more potential changes for FY 2019.
In the wake of being blindsided by the most recent HECM changes, industry leaders are calling for stability...
New Report Separates & Exposes HECM Liabilities HUD’s most recent actuarial review and net value of the Home Equity Conversion Mortgage sent shockwaves through the reverse mortgage industry last week. **Listen to this week’s podcast for the latest reverse mortgage news stories** The 2017 Fiscal Year actuarial review of the
The good & the bad from recent HECM changes Sudden industry product changes are always coupled with challenges. Reverse mortgage professionals are seeing first-hand the impacts that HUD’s October surprise will have on borrowers seeking to refinance and payoff their mortgage and those seeking to purchase a home with a
HECM ‘line of credit’ growth still beneficial but more realistic Recent changes to the Home Equity Conversion Mortgage enacted on October 2nd have reduced the ongoing FHA insurance premium substantially and led to many lenders reducing their loan margins to soften the blow of reducing lending ratios or PLF factors.
While the mortgagee letter was brief the potential impacts are considerable. Here are some impacts to anticipate and plan for in the wake of the most recent overhaul of the federally-insured reverse mortgage.