Economist: TRID is Not Affecting Housing Market Potential DSNews by: Brian Honea January 19, 2016 While November’s substantial decline in existing-home sales was largely attributed to the impact of the TRID, or “Know Before You Owe” mortgage rule, which went into effect on October 3, one economist said the CFPB’s controversial rule is […]
Tag: Reverse Mortgage
FHA Revises Reverse Mortgage Program to Protect Non-Borrowing Spouses From Foreclosure
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 […]
Confusion Over Loan Terms, Foreclosure on Non-Borrowing Spouses Top List of Complaints to CFPB
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 […]
New FHA Policy Provides Foreclosure Alternative on Reverse Mortgages
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 […]
