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More HECM Changes Coming…

Shannon Hicks
[vimeo id=”167351240″ width=”625″ height=”352″] More Changes for HECM on Horizon from HUD If you think the dust has finally settled in the wake of numerous HECM changes, think again. HUD announced their intention to codify recent program changes while also adding new consumer protections to the federally-insured Home Equity Conversion

New HECM Products Nixed

Shannon Hicks
There was a rush to market by a handful of lenders to offer fixed rate variant products which still fell within the guidelines of the federally insured reverse mortgage or HECM program. While FHA has not directly addressed these new products Ginnie Mae has.

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