Reverse Mortgage Industry Encouraged by 2020 Lending Limit Increase

Reverse Mortgage Industry Encouraged by 2020 Lending Limit Increase

Last week, the Federal Housing Administration released a Mortgagee Letter (ML) detailing that the lending limit for government-backed Home Equity Conversion Mortgage (HECM) loans would be increasing for the fourth consecutive year in a row, to $765,600 beginning with case numbers assigned on January 1, 2020.