Reverse Mortgage Regulations


The following section contains links to FHA mortgagee letters, the Code of Federal Regulations, and the HUD HECM Handbook, so that you are kept informed of the rules governing the HECM and Fannie Mae Home Keeper programs.


HUD


MMI Fund Sees Strong Two-Year Recovery November 20, 2014

In its 2014 Annual Report to Congress on the Financial Status of the FHA Mutual Mortgage Insurance Fund, HUD reported an impressive two-year gain of $21 billion dollars from a 2013 negative value of $16.3 billion to a 2014 positive value of $4.8 billion.


HUD Publishes ML on Financial Assessment November 14, 2014

HUD has published two mortgagee letters that will help clarify the process for conducting financial assessments.


Federal Agencies Adopt Final "Skin in the Game" Securitization Rule October 27, 2014

Federal regulators issued the final Risk Retention Rule as required by the Dodd-Frank Act.

 

Other


Reverses Should Count Towards GSE's Housing Goals November 4, 2014

NRMLA submitted comments to the FHFA requesting that teverse mortgages be included among the types of mortgage assets that Fannie Mae and Freddie Mac can purchase in order to meet their annual affordable housing goals.


Nevada Supreme Court Rules on Unpaid HOA Dues November 4, 2014

On September 18, the Supreme Court of Nevada held that Nevada law gives a homeowners’ association (“HOA”) a super-priority lien on an individual homeowner’s property for up to nine months of unpaid HOA dues.


CFPB Should Delay HMDA Reporting for Reverses November 4, 2014

NRMLA asked the CFPB to delay further implementation of a proposed regulation that would require reverse mortgage companies to submit HMDA data until concerns raised by the industry are addressed.


NRMLA Supports Proposed QA Efforts October 27, 2014

NRMLA submitted comments last week to the Department of Housing and Urban Development supporting the Federal Housing Administration’s proposed Loan Quality Assurance Methodology.