Tag: Reverse Mortgage

CFPB Takes Action Against Reverse Mortgage Lender for Deceptive Advertising – Date April 27, 2021

Written by: Lloyd Rutherford, Staff Writer Advertising your services can be extremely complex when you are governed by financial services regulations.  Read this article to learn more about the practices that landed this lender in hot water with the regulators and what you can do to prevent issues like this in your own business. Rule […]

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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 HECM-Reverse Mortgage Updates – Moratorium Extension – HECM Fraud

Written by: Melinda Hipp, Staff Writer HECM Updates & Interpretation: FHA Extends Exterior Appraisals to October 31 – Extends Foreclosure Moratorium Until Year End The Department of Housing and Urban Development announced the re-extension of exterior-only appraisals for case numbers on HECM’s (Reverse Mortgages) assigned on or before October 31, 2020. Details were provided in Mortgagee […]

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FHA HECM-Reverse Mortgage Updates for August

Written by: Melinda Hipp, Staff Writer Each month our HECM expert brings you the latest updates for FHA-HECM loans.  If this is an area of interest for you, make sure that you stay up to date with the changes by reading this article. Rule Synopsis: HUD issued mortgage letter 2020-24 Temporary guidance for case numbers […]

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