DSNews By: Brian Honea June 15, 2015 The Federal Housing Administration (FHA) on Friday announced revisions to its Home Equity Conversion Mortgage (HECM) program that will allow FHA-approved lenders to offer more options to eligible surviving non-borrowing spouses. The revisions announced Friday allow for the deferral of due and payable status for reverse mortgages, hence […]
DSNews By: Brian Honea Those affected by the U.S. Department of Housing and Urban Development (HUD)’s decision on Friday, June 12, to allow servicers to allow surviving non-borrowing spouses in HUD’s reverse mortgage program to stay in their home if the mortgage was originated prior to August 4, 2014, widely applauded the Department’s decision […]
DSNews BY: Brian Honea January 29, 2015 A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection […]
