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
A new final rule (Docket No. FR-5457-F-02) from the Federal Housing Administration streamlines inspection requirements for FHA single-family mortgage insurance by eliminating the FHA Inspector Roster. According to … more FHA Eliminates Inspector Roster
Effective for case numbers assigned on or after January 6, 2018, properties encumbered by a PACE obligation can be paid off using HECM proceeds. “Clarification is provided to … more PACE Liens Now Considered a Mandatory Obligation
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HUD’s Office of the Inspector General issued an “Integrity Bulletin” today warning reverse mortgage lenders that they have identified instances of fraudulent appraisals being used to increase HECM … more Member Alert: HUD’s Inspector General Publishes Alert On HECM Refinancings
Following is a question submitted by one of our members on proper disclosure of the service fee set-aside. The answer was provided by Dan Mooney, head underwriter at HUD’s Santa Ana Homeownership Center, in Santa Ana, CA.
Recently, a NRMLA member asked whether FHA will insure reverse mortgages made on homes located on tribal lands. The following answer was provided by Daniel Mooney, a senior underwriter at HUD’s Santa Ana Homeownership Center, in Santa Ana, CA.
The following article written by title insurance executive Chris McLucas examines common issues that a title company should be prepared to handle in completing a reverse mortgage transaction.
Following is an article that explains some of the issues you need to be aware of when working with a client who lives in a manufactured home.
In states like Florida and California with large senior populations, an increasing number of elderly homeowners are placing all or most of their assets—including their home—into a trust for tax and estate planning purposes.