Tag: Home Equity Conversion

FHA Mortgagee Letter 2021-11-Dated & FHA HECM Monthly Update

Written by: Melinda Hipp, Staff Writer Rule Synopsis FHA published ML Letter 2021-11 “Amendments to HUD’s Non-Borrowing Spouse Policy” for all HECM loans.  These changes implement additional protections for eligible non-borrower spouses. Interpretations & Update FHA Mortgagee Letter 2021-11 Following are the changes announced in this Mortgagee Letter: -For Case Number Assignments on or after […]

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FHA – COVID – 19 Extensions & HECM Updates – Mortgagee Letters 2021-05 & 2021-06

Written by: Melinda Hipp, Staff Writer Those of you working with HECM/Reverse Mortgages, here is your monthly update! New Reference Added – National Council on Aging – HUD Official Reverse Mortgage Guide Rule Synopsis FHA Extends COVID-19 Relief & Exterior-Only Appraisals through the end of June. HECM borrowers who have been impacted by COVID-19 and […]

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FHA Mortgagee Letter 2019-17- Home Equity Conversion Mortgage (HECM) Program – Condominium Requirements – Dated September 27, 2019

Written by: Tracey Rumsey, Staff Writer Those of you that work with reverse mortgages need to read through this important update along with previously written information on this subject which is linked in supporting resources. Rule Synopsis: Effective October 15, 2019 FHA will insure HECM loans on condominium loans provided: the lender ensures the HECM […]

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