This week, the Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced the 2019 conventional loan limit for single-family properties will be $484,350, an increase … more FHFA Raises Conventional Loan Limit to $484,350; HECM Limit Still Unknown
Resources
HECM Second Appraisal Protocols Become Automated Effective November 30
Today, the Federal Housing Administration announced in FHA Info #18-47 that effective tomorrow, Friday, November 30, 2018, the protocols that had been in place on an interim basis for … more HECM Second Appraisal Protocols Become Automated Effective November 30
FHA Publishes FAQ For HECM Collateral Assessment Policies
In response to questions raised by NRMLA and its members, the Federal Housing Administration published a list of Frequently Asked Questions to help clarify its new collateral risk … more FHA Publishes FAQ For HECM Collateral Assessment Policies
HUD Awards $47 Million In Housing Counseling Grants
The U.S. Department of Housing and Urban Development this week awarded $47 million in housing counseling grants to non-profit counseling agencies across the country that will be used … more HUD Awards $47 Million In Housing Counseling Grants
A New Proprietary Product Option for Your Reverse Mortgage Clients
Finance of America Reverse this week introduced HomeSafe® Second, the first-ever second lien reverse mortgage and the latest addition to its proprietary HomeSafe suite of products. In an … more A New Proprietary Product Option for Your Reverse Mortgage Clients
Key HECM Regulations and Resource Materials
The following section lists the primary regulations pertaining to the FHA’s Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.
Why Transportation Costs Should Be Part of the Borrower Conversation
By Edward Seiler, PhD For older adults, determining the best place to live includes both affordability and location. The two considerations are not independent. We all need access … more Why Transportation Costs Should Be Part of the Borrower Conversation
One Reverse Jumps Into the Proprietary Arena
This week, One Reverse Mortgage’s President and CEO, Gregg Smith, announced his company’s new proprietary product, Home Equity Loan Optimizer (HELO). The product is currently available through One … more One Reverse Jumps Into the Proprietary Arena
Form HUD-9902 Counseling Data Due July 31
In a listserv announcement sent on July 3, the Department of Housing and Urban Development reminded housing counseling agencies (HCAs) to submit their third quarter Form HUD-9902 performance … more Form HUD-9902 Counseling Data Due July 31
Reverse Mortgage Assistance in Puerto Rico
The non-profit HOPE Now Alliance has organized free counseling for families in Puerto Rico who were impacted by Hurricane Maria and need help with their reverse mortgages. Counselors … more Reverse Mortgage Assistance in Puerto Rico