FHA HECM Claims Reports
January 6, 2009
In this section, you will find information on HECM claims activity.
Exclusive HECM Endorsement Analysis
January 6, 2009
Following is a more detailed analysis of the monthly HECM data published by HUD prepared by Reverse Market Insight.
Monthly HECM Production
January 5, 2009
HECM endorsements in December totaled 9,761 loans (or 27,653 for the current fiscal year), compared to 8,007 a year ago in December (or 24,686 for the last fiscal year).
Get Your Customers the Information they Need with NRMLA Consumer Guides - New Reduced Prices
December 28, 2008
NRMLA has developed several information booklets for consumers that members can purchase at a discount to distribute to prospective clients. We recently reduced the pricing for our consumer booklet series for orders under 1000.
Member Alert: New Mortgagee Letter Imposes New Requirements on Appraisers
December 23, 2008
HUD published a new mortgagee letter which imposes new requirements on appraisers who want to remain on the official FHA Appraiser Roster.
FDIC Publishes Guidance on Reverse Mortgages
December 18, 2008
The Winter 2008 issue of the FDIC's newsletter, Supervisory Insights, features an article titled "Reverse Mortgages: What Consumers and Lenders Should Know."
MEMBER ALERT: HUD Updates NRMLA on Pending Mortgagee Letters
December 17, 2008
As part of our ongoing conversations with HUD, we want to alert you to a few new developments. HUD is indicating that new Mortgagee Letters (ML) regarding the HECM program are expected to be released soon.
HUD Clarifies Non-Recourse Policy in Mortgagee Letter
December 9, 2008
HUD published Mortgagee Letter 2008-38, which clarifies the definition of non-recourse and defines an “arms-length” transaction when the property is sold.
State Regulators Issue Examination Guidelines for Reverse Mortgages
December 8, 2008
The American Association of Residential Mortgage Regulators and the Conference of State Bank Supervisors released a comprehensive set of examination guidelines designed specifically for reviewing the business practices and operations of lenders and brokers selling reverse mortgage loans to seniors.
Member Alert: HUD Develops HECM Q&A Page
November 13, 2008
HUD created special Q&A pages for lenders to obtain additional information about HECM for Purchase and the new lending limits.
Press Release: HUD Increases Loan Limit for Reverse Mortgages and Lowers Lender Fees
November 7, 2008
HUD formally adopted a new single national loan limit of $417,000 for federally insured reverse mortgages and lowered the fees that lenders can charge.
MEMBER ALERT: HUD Publishes Mortgagee Letters Implementing New HECM Loan Limit and Fee Structure
November 6, 2008
This afternoon, HUD published Mortgagee Letters implementing the new HECM loan limit and fee structure.
HUD Reminder-Ordering of Counseling
November 6, 2008
HUD distributed the following email thru its counseling network.