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.
Extension applies to senior borrowers affected by COVID-19.
Lender tells partners it won't fund loans that haven't already closed.
RMI report shows HECM loans in September at lowest point in 2.5 years.
Decline comes after previous month’s 10-year high