The number of households headed by a person aged 80 and over will more than double to nearly 17 million between 2021 and 2040. However, the United States … more The Challenges Caring For An Aging Population
Industry News & Reference
HUD Updates HECM Servicing Policies
The Federal Housing Administration implemented numerous servicing policy changes that are designed to improve the HECM program’s financial stability and overall performance. Details were provided in Mortgagee Letter … more HUD Updates HECM Servicing Policies
HECM Loan Limit Increasing to $1,149,825 in 2024
The Federal Housing Administration has just announced that it will increase the maximum claim amount for Home Equity Conversion Mortgages in calendar year 2024 from $1,089,300 to $1,149,825 … more HECM Loan Limit Increasing to $1,149,825 in 2024
Study: Retirement Investors Inaccurately Predict Life Expectancy
Jackson National Life Insurance Company, in partnership with the Center for Retirement Research at Boston College, published a study on how retirees and financial professionals perceive retirement risk … more Study: Retirement Investors Inaccurately Predict Life Expectancy
Health of HECM Program Remains Positive In FY23
For a third consecutive year, the Home Equity Conversion Mortgage portfolio had a positive economic value. That’s according to the Department of Housing and Urban Development’s 2023 Annual … more Health of HECM Program Remains Positive In FY23
Closing the Retirement Coverage Gap
The Center for Retirement Research at Boston College published its 2023 Small Business Retirement Survey to better understand why smaller firms do or do not offer retirement savings … more Closing the Retirement Coverage Gap
FHA Connection Updated to Accommodate ADU Processing
The enhancements to FHA Connection follow the recent publication of Mortgagee Letter 2023-17, which updated Financial Assessment guidelines to permit income from Accessory Dwelling Units to be used … more FHA Connection Updated to Accommodate ADU Processing
FHA Proposes Update to HECM Assignment Claims Eligibility
The Federal Housing Administration posted a new draft mortgagee letter to the Drafting Table that would expand the assignment eligibility criteria to include HECMs that are due and … more FHA Proposes Update to HECM Assignment Claims Eligibility
Updated HECM Handbook Has Arrived
NRMLA’s leadership, committees, and outside counsel are all carefully reviewing the HECM section of the Single-Family Housing Policy Handbook 4000.1 that the Department of Housing and Urban Development … more Updated HECM Handbook Has Arrived
HUD Proposed Rule Expands Counseling Delivery Options
The Department of Housing and Urban Development published a proposed rule in the Federal Register this week that would amend HUD’s regulations to allow housing counseling agencies to use alternative communication … more HUD Proposed Rule Expands Counseling Delivery Options
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