The financial health of the Home Equity Conversion Mortgage portfolio improved dramatically over the past year, ending Fiscal Year 2020 with a negative stand-alone capital ratio of negative … more FHA Annual Report: Economic Value of HECM Improves By $5.4 Billion
Reference Section
NRMLA Proposes Improvements to HECM Loan Docs
With input from the HUD Issues Committee, NRMLA submitted comments to the Department of Housing and Urban Development this week that recommended the FNMA-1009 be replaced by the … more NRMLA Proposes Improvements to HECM Loan Docs
Research Confirms HECM Reforms Have Reduced T&I Defaults
An analysis of HECM data confirms that Financial Assessment and upfront draw restrictions are having the desired effect of reducing tax and insurance defaults. That’s according to a … more Research Confirms HECM Reforms Have Reduced T&I Defaults
HMBS October 2020 Part II: HMBS Supply Rises, For Now
Outstanding HMBS rose by about $50 million in October, as payoffs rose and new issuance remained strong. Payoffs increased to $950 million, despite the continued fall of mandatory … more HMBS October 2020 Part II: HMBS Supply Rises, For Now
Father of 4% Rule Suggests Higher Withdraw Rates in Today’s Market
In a recent interview with blogger and financial advisor Michael Kitces, Bill Bengen, the “father” of the 4 percent rule, admitted that he advised his clients to withdraw … more Father of 4% Rule Suggests Higher Withdraw Rates in Today’s Market
HUD Issues Temporary Partial Waivers For Assignment Claims
The Federal Housing Administration issued two temporary partial waivers to its HECM servicing policies that allow mortgagees to be more flexible in submitting assignment claims. Details were provided … more HUD Issues Temporary Partial Waivers For Assignment Claims
HMBS October 2020: HMBS Issuers Haunted by Ghost of LIBOR
HMBS issuance totaled $879 million in October, marking another banner month overshadowed by the pending demise of LIBOR as an HMBS index. December 2020 will be the last … more HMBS October 2020: HMBS Issuers Haunted by Ghost of LIBOR
FHA Extends Exterior-Only Appraisals
The U.S. Department of Housing and Urban Development extended the option for exterior-only appraisals through December 31, 2020 for Traditional HECM, HECM-to-HECM Refinance, Rate and Term Refinance and … more FHA Extends Exterior-Only Appraisals
A Retirement Dashboard For the United States
To address the complexity of retirement finances, governments around the world have created online dashboards that offer tracking systems, unbiased financial advice, future income projections and other expanded … more A Retirement Dashboard For the United States
FHA Extends HECM Foreclosure Moratorium
HECM borrowers who have been impacted by COVID-19 and are facing foreclosure have been granted an extension to December 31, 2020 to request a six-month delay in having … more FHA Extends HECM Foreclosure Moratorium