The Federal Housing Administration published a draft mortgagee letter on the Single-Family Drafting Table that would improve FHA’s ability to make prompt payments in the event of mortgagee … more FHA Seeks Feedback On Draft Mortgagee Letter Related to HECM Borrower Payments
Loan Servicing
Joint Statement On Completing the LIBOR Transition
The Consumer Financial Protection Bureau issued a joint statement with four other federal regulatory agencies, and state bank and credit union regulators, as a reminder that use of … more Joint Statement On Completing the LIBOR Transition
NRMLA Suggests Ways to Improve HECM Assignment Process
In comments submitted to the Department of Housing and Urban Development this week, NRMLA offered recommendations to make the assignment process for HECM reverse mortgages more efficient and … more NRMLA Suggests Ways to Improve HECM Assignment Process
FHA Proposes Changes to HECM Assignment Claims Submission Process
By Weiner Brodsky Kider and NRMLA staff On April 4, 2023, FHA posted a draft Mortgagee Letter (ML) that would make changes to the HECM Assignment Claim Type 22 submission … more FHA Proposes Changes to HECM Assignment Claims Submission Process
Servicing Corner: Does the 95 Percent Rule Apply to Non-Borrowing Co-Owners?
Weekly Report periodically publishes the “Servicing Corner” to educate readers on the most commonly asked questions that loan officers ask about HECM servicing guidelines. NRMLA received the following … more Servicing Corner: Does the 95 Percent Rule Apply to Non-Borrowing Co-Owners?
HUD Publishes LIBOR Transition Final Rule
The Department of Housing and Urban Development published a final rule today that replaces the London Interbank Offered Rate (LIBOR) as an approved index for new and existing adjustable-rate forward … more HUD Publishes LIBOR Transition Final Rule
Urban Institute Offers Solutions For Improving HECM Program
The Urban Institute published an op-ed this week that proposes policy changes to the Home Equity Conversion Mortgage program to guarantee its long-term financial stability and to avoid … more Urban Institute Offers Solutions For Improving HECM Program
Protecting Your Clients From Wire Fraud
Email hacking and wire fraud, with the intent to misdirect wired funds, is a growing concern. With the help of our servicer and title company members, NRMLA has … more Protecting Your Clients From Wire Fraud
HUD Establishes COVID-19 HECM Property Charge Repayment Plan
The Department of Housing and Urban Development established a new repayment plan option for HECM borrowers who continue to suffer financially from the impacts of the COVID-19 pandemic … more HUD Establishes COVID-19 HECM Property Charge Repayment Plan
Compu-Link Officially Takes Over as HUD’s Contract Subservicer
NRMLA was notified this morning by HUD’s Tulsa Servicing Center that Compu-Link has officially taken over as the Department’s contract subservicer for assigned HECM reverse mortgages. Mail is … more Compu-Link Officially Takes Over as HUD’s Contract Subservicer
[Page 1 of 8 ]