Tagged: Home Equity Conversion Mortgage (HECM)

Endorsements rise month over month, but flat annual volume and growing proprietary competition reshape opportunity for LOs

Ruling clarifies that unused HECM funds are contingent assets protected under homestead law, with implications for lenders, servicers, and originators

HUD has raised the FHA forward and reverse mortgage loan limits to reflect higher home prices and preserve access to insured mortgage credit across both low- and high-cost housing markets

The Mortgage Bankers Association has urged the FHA and Ginnie Mae to modernize and overhaul the HECM and HMBS programs to expand senior access, cut costs, and restore market liquidity

PHH has agreed to sell reverse mortgage servicing rights, comprised of approximately 40,000 Ginnie Mae HECM loans, with an unpaid principal balance of $9.6 billion, as PHH becomes the subservicer for the reverse MSRs under a three-year agreement

Older Americans face 'combined crisis of housing affordability, accessibility, and availability'

New measures could boost H4P adoption rate and offer borrowers potential savings with inclusion of premium pricing.

Announces plan after acquiring Cherry Creek Mortgage, a top 10 HECM lender.

The plan helps senior homeowners with FHA-insured HECMs who are behind on required property charge payments due to effects of the COVID-19 pandemic.