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 Author: Scott Morgan February 2 A recent report from the Consumer Finance Protection Bureau that takes a look at consumer complaints in the reverse mortgage arena over a three-year period has identified seven main complaints about the process. Most of the complaints boil down to consumer confusion over the terms of a loan. The […]
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 […]
