The article, "Reverse Mortgage Reform 2013 (Updated HECM Guidelines)" starts off by telling a bit about the home equity conversion
mortgage : "For most people, the only way to make use of the equity you've built up in your home is by selling or refinancing and pulling equity out at closing.
Gain a better understanding of the FHAs Home Equity Conversion
Mortgage product and recent changes;
Company Looks to Broaden Market by Repositioning Home Equity Conversion
Mortgages With New Comprehensive App Planning Tool
2338 would also prohibit seller-funded down-payment programs, lift the cap on Home Equity Conversion
Mortgages (HECMs), institute a one-year moratorium on the implementation of risk-based premiums and prohibit for two years any increase of the multifamily mortgage insurance premium that would make it higher than the premium in place in October 2006.
Also known as Home Equity Conversion
Mortgages (HECMs), reverse mortgages allow homeowners aged 62+ to convert a portion of their home equity into cash while they continue to live at home for as long as they're able.
1852), which would create 40-year FHA-insured mortgages, institute risk-based premiums, allow zero down payments for first-time borrowers and lift the cap on Home Equity Conversion
At a recent Senate Banking Committee hearing, Housing and Urban Development (HUD) Secretary Shaun Donovan proposed both immediate, interim steps and longer-term changes to reduce losses and permanently strengthen the FHA's Home Equity Conversion
Mortgage (HECM) program.
Lender Lead Solutions, Melville, New York, announced its introduction of a Home Equity Conversion
Mortgage (HECM) based on the London interbank offered rate (LIBOR) index, making it the first reverse-mortgage lender to announce a product based on the LIBOR index instead of the Constant Maturity Treasury (CMT) index.
NEW YORK -- Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced that its Pricing and Reference Data business is now providing daily independent evaluations for fixed-rate reverse mortgage-backed securities (HMBS) issued under the Government National Mortgage Association (GNMA) Home Equity Conversion
Mortgage (HECM) program.
Federally-Insured Reverse Mortgages -- These are often referred to as Home Equity Conversion
Mortgages (HECM) and are backed by the U.
Demand for the FHA's Home Equity Conversion
Mortgage (HECM) loans, or reverse mortgages, is increasing and is expected to continue to rise as the baby boom generation enters its retirement years, according to a study by HUD's Office of Policy Development & Research (PD & R).
95% of reverse mortgages are Home Equity Conversion