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.
If a borrower uses water from a well on the property instead of public water, then tests must be conducted to make sure that the well water is fit for drinking.
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.