HECM-to-HECM Refis Targeted, Appraisal Scrutiny & More Late last Thursday afternoon we received word that the Department of Housing and Urban Development (HUD) in cooperation with the Treasury Department presented President Donald Trump with their plan for reforming the Nation’s housing finance system and the Home Equity Conversion Mortgage
Despite improved HECM outlook, the CBO recommends four major changes to the reverse mortgage program In August 2016 AARP recommended the elimination of the HECM ‘line of credit’ While FHA recent reports show a positive financial outlook for the fiscal year 2020, the CBO issued a report today proposing
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
Challenges to HECM Growth & Measuring Success Reverse mortgage endorsement volumes have continued their slide after a brief recovery. Despite the increased acceptance of the press and financial planning community and the ever-growing need of soon to be retirees, the Home Equity Conversion Mortgage industry finds itself challenged to grow.